Xi an Bright Laser Tech Co Ltd

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Huayu Software and Bright Laser Technologies Receive Regulatory Warning Letters on Same Day; Chairmen of Both Companies Held Primarily Responsible for Violations

Huayu Software and Bright Laser Technologies disclosed on the same day that they had received warning letters from their respective securities regulatory bureaus, with the chairmen of both companies found to bear primary responsibility for the violations. Huayu Software changed its revenue recognition method for new government-enterprise digital intelligence business in 2025 from the gross method to the net method, resulting in downward adjustments to its first-quarter, half-year, and third-quarter 2025 operating revenues by 28.86 million yuan, 60.58 million yuan, and 67.46 million yuan respectively. The related information disclosure was inaccurate. The Beijing Securities Regulatory Bureau issued a warning letter to the company, its chairman and general manager Guo Ying, and its chief financial officer Diao Yuekai, and recorded the matter in their integrity files. Bright Laser Technologies, on the other hand, used idle raised funds for cash management with a maximum balance exceeding the amount approved by the board of directors, exposing internal control deficiencies in raised fund management. The Shaanxi Securities Regulatory Bureau issued a warning letter to the company, its chairman and general manager Xue Lei, former deputy general manager Liang Kejing, chief financial officer Wang Min, and former board secretary Cui Jingshu, and required the submission of a rectification report within thirty days. Both companies stated that they attach great importance to the matter and will learn from the experience, and that the relevant measures will not affect their daily operations and management.

Beijing Thunis… ▼Xi an Bright L… ▼

300271.CS · Regulation · Negative Received regulatory warning letter for inaccurate revenue recognition and information disclosure.

688333.CG · Regulation · Negative Received regulatory warning letter for internal control deficiencies in raised fund management.

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Space Economy▲

Commercial space 3D printing market size expected to exceed 15 billion yuan by 2027

Securities Times reporters have learned that leading domestic commercial rocket companies such as LandSpace, Galactic Energy, Space Pioneer, and Deep Blue Aerospace have already adopted 3D printing technology on a large scale to produce core components like engine thrust chambers and nozzles. Listed companies such as Farsoon Technologies and BLT have taken early positions in this track, and multiple enterprises are making moves through mergers and acquisitions or joint ventures. According to the 2026 China Commercial Space 3D Printing Technology Development Blue Book, the domestic commercial space 3D printing market size is expected to exceed 15 billion yuan in 2027 and surpass 30 billion yuan in 2030, with a five-year compound growth rate maintained above 35 percent. Currently, the penetration rate of 3D printing in scenarios such as satellite structural components and large-scale rocket body structures is expected to rise from the current 35 to 50 percent to over 60 percent. However, the industry still faces pain points such as high costs for high-end equipment and core consumables, and a lack of standard systems. 3D printing service providers like FalconTech have already achieved full-capacity production of equipment, and the printing cycle for components such as large rocket engine nozzles takes only about ten days.

Xi an Bright L… ▲Farsoon Techno… ▲

Space Economy ▲

About megatrends

Space Economy › Launch Services & Propulsion ▲Supply

Space Economy › Satellite & Spacecraft Manufacturing ▲Technology

688333.CG · Demand · Positive BLT is a listed 3D printing company that has taken early position in the commercial space 3D printing track, which is expected to grow rapidly.

688433.CG · Demand · Positive Farsoon Technologies is a listed 3D printing company that has taken early position in the commercial space 3D printing track, which is expected to grow rapidly.

飞而康 · Demand · Positive FalconTech (飞而康) is a 3D printing service provider mentioned as having achieved full-capacity production, benefiting from growing demand in commercial space.

Deep Blue Aerospace (深蓝航天) · Demand · Positive Deep Blue Aerospace is a leading commercial rocket company that has adopted 3D printing on a large scale for core components, benefiting from market growth.

Galactic Energy (Beijing Xinghe Power Equipment Technology Co., Ltd.) · Demand · Positive Galactic Energy is a leading commercial rocket company that has adopted 3D printing on a large scale for core components, benefiting from market growth.

Jiangsu Tianbing Aerospace Technology Co Ltd (Space Pioneer) · Demand · Positive Space Pioneer is a leading commercial rocket company that has adopted 3D printing on a large scale for core components, benefiting from market growth.

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