Preliminary 3Q26 results: resilient earnings growth continues; positive on 3D printing

On 15 October after market close, Han's Laser announced preliminary 9M26 results, with net profit expected to rise sharply year over year and come in above BofAe's estimate, mainly on higher-than-expected revenue; 3Q26 net profit was largely flat quarter over quarter at the high end of the range. Newly signed orders in 9M26 grew strongly year over year, already accounting for a large share of estimated full-year 2026 revenue, driven by rising demand from PCB equipment, consumer electronics, new energy and semiconductor equipment. Management also noted demand recovery for general laser equipment, particularly lower-power applications such as automotive electronics, UV lasers and ultrafast lasers. The report is positive on 3D printing equipment, where potential design changes in new smartphones expected to launch in 2027 could create a meaningful new market and another growth driver for revenue and earnings in 2027. BofA reiterates Buy, citing the improving earnings growth track record a