[Edaily Reporter Shin Ha-yeon] On the 10th, Shinhan Investment Securities noted that demand for 3D printing is rapidly expanding in next-generation industries such as humanoids, space, defense, and data centers regarding #LinkSolution. The firm projected that if the proof-of-concept (PoC) projects currently underway transition to mass production during the third or fourth quarter of this year, it could serve as a catalyst for a stock price rebound. The firm did not provide an investment opinion or target price.

Choi Seung-hwan, an analyst at Shinhan Investment Securities, analyzed, "The transition of PoC projects to mass production within the third and fourth quarters of this year is crucial for a stock price turnaround," adding, "Given the high demand from clients, there is a strong possibility of securing orders early."

It is assessed that 3D printing has already established itself as a core process in the humanoid, space, and data center industries. Analyst Choi noted, “Boston Dynamics’ humanoid robot ‘Atlas’ has leg components manufactured via 3D printing, and China’s XPeng is utilizing 3D printing techniques to accelerate design speeds without the need for molds,” “In the space sector, additive manufacturing technology is being applied to SpaceX’s Falcon 9.”

In particular, regarding data center cooling, he explained that using 3D-printed copper plates can reduce the proportion of cooling costs in total power consumption from the current 30% to around 1%. Currently, Link Solution is conducting Proof of Concept (PoC) projects in parallel with global companies in the humanoid, aerospace, defense, and data center sectors.

China was identified as a key variable in the global 3D printing market. Researcher Choi noted, “China is treating 3D printing as a core means of localizing materials and components,” adding, “If non-Chinese companies expand their adoption of 3D printing, Link Solution is likely to be a major beneficiary.”

The construction of the country’s largest 3D printing foundry was also cited as a growth driver. He assessed, “Although the Daejeon plant is scheduled for completion in December 2026, considering clients’ urgent demand to secure production capacity (capacity) early, there is a high probability of securing mass production orders during the third or fourth quarter of this year, even before completion.”

He continued, “If clients’ proof-of-concept (PoC) projects transition to mass production, each project is expected to be worth hundreds of billions of won, up to 100 billion won or more,” adding, “We are already in a situation where we must worry about capacity shortages, and depending on whether contracts are secured, investment in a second plant could proceed ahead of schedule.”

He also emphasized that investors should focus on order momentum rather than Link Solution’s earnings for this year and next. Analyst Choi noted, “Full-scale mass production and a return to profitability are expected in 2027, following the plant’s completion at the end of 2026,” but stressed, “However, if orders are confirmed during the third or fourth quarter of this year, the stock price is likely to reflect these orders—a leading indicator—before earnings.”