Shining3D Tech Co., Ltd. Releases Three-Year Verification Report: Received Government Subsidies of 74.9385 Million Yuan in 2025, Advancing BSE IPO

Image source: Verification report on non-recurring gains and losses of Shining 3D over the past three years

DentalGoodNews｜On April 13, 2026, Shining3D Tech Co., Ltd. (hereinafter referred to as "Shining3D", 830978) released the "Verification Report on Non-recurring Gains and Losses for the Recent Three Years," disclosing its Non-recurring Gains and Losses for the period from 2023 to 2025. The report shows that in 2025, the total amount of government subsidies included in the company's current profit and loss reached 74.9385 million yuan, a year-on-year increase of 56.85% compared to 47.7783 million yuan in 2024.

According to previous reports by DGN, Shining3D is currently in the suspended review stage of its IPO on the Beijing Stock Exchange (BSE), primarily due to the expiration of its financial reports. The verification report released this time was issued by Tianjian Certified Public Accountants. The report clearly states that its purpose is to serve as an essential document for Shining3D's public offering of shares to unspecified qualified investors and its listing on the BSE, indicating that the company is actively supplementing financial materials to apply for the resumption of the review.

Image source: Verification report on non-recurring gains and losses of Shining 3D over the past three years

Regarding the composition of subsidies, in 2025, the subsidies received by Shining3D were significantly tilted towards the R&D side. Among them, R&D expense subsidies amounted to 28.3019 million yuan, and funding for R&D investment from the digital economy echelon enterprises was 24.1998 million yuan. Additionally, it included special funds for the development of key industrial ecosystems amounting to 5.3058 million yuan.

Financial data shows that Shining3D's government subsidy amount has shown a growth trend over the past three years, increasing from 37.9915 million yuan in 2023 to 74.9385 million yuan in 2025. Combined with the company's previously released 2025 annual review report, its full-year Net Profit Attributable to Shareholders of the Parent Company reached 425 million yuan, a year-on-year increase of approximately 100%. The government subsidies in 2025 accounted for about 17.6% of its current Net Profit Attributable to Shareholders of the Parent Company.

Currently, Shining3D plans to raise 550 million yuan, of which approximately 29% will be invested in the "R&D Project for High-Precision Digital Implantology Technology." The disclosure of this Non-recurring Gains and Losses verification report not only enhances the transparency of the company's income composition but also provides objective evidence for the BSE to further review the sustainability of its profitability.