A-share Subscription | Century Digital (920229.BJ) Opens for Subscription, with the domestic market share of digital printers reaching 27% from 2022 to 2024.

On September 9, Century Digital (920229.BJ) launched its subscription with an offering price of 15.67 yuan per share, a subscription limit of 467,500 shares, and a price-to-earnings ratio of 13.49 times, under the Beijing Stock Exchange, with Orient as its sponsor. The prospectus indicates that Century Digital focuses on digital printing technology, mainly engaged in the industrial applications of textile digital printing, advertising signage, and corrugated box packaging digital printing. The company specializes in the research, production, and sales of digital inkjet printers, digital printing machines, and digital printing devices for corrugated colored boxes, along with related accessories and consumables. According to a certificate issued by the Advertising Production and Display Professional Committee of the China Business Advertising Association, the company's market share for digital printers (micro piezoelectric digital photo equipment) in the domestic market reached 27% from 2022 to 2024, ranking first; based on the "2024 Development Report of Digital Inkjet Printing for Textiles" released by the China Printing and Dyeing Industry Association, the domestic installation volume of digital heat transfer printing machines in 2023 reached 6,400 units. Based on the number of digital heat transfer printing machines sold in the domestic market in 2023, the company's domestic market share is approximately 25%, placing it among the top in the industry. The roll-to-roll corrugated colored box digital printing machine, launched domestically, was recognized as the "first major technical equipment in Henan Province" in September 2025. Currently, the application of digital printing technology is still primarily concentrated in traditional printing fields such as books, magazines, and photo albums, as well as advertising printing, accounting for nearly 60%, while penetration in the textile printing sector remains low, at less than 10%. In the future, with continuous technological advancements and growing market demand, the application fields of digital printing technology will further expand. In recent years, with the increase in aesthetic differences and a pursuit for unique personalization, the DIY market has emerged. According to data from Fortune Business Insights, the global handicrafts market size is projected to reach USD 12,187.7 billion by 2025, and is expected to grow to USD 13,412.6 billion by 2026, with more people participating in DIY handicraft production activities. Heat transfer machines can be used in the clothing sector for personalizing products like T-shirts, sweatshirts, and sportswear, catering to the needs of trendy brands, niche designer brand customizations, and small batch orders from e-commerce platforms; in the home decor sector, they can be used for heat printing patterns on fabric products like curtains, cushions, and tablecloths, helping to create personalized home styles; in the gift customization sector, they can efficiently print patterns on accessories like canvas bags and cultural T-shirts, widely adaptable for various scenarios including holiday promotions, team-building customs, and event commemorations. According to a report by Smithers titled "The Future of Packaging Printing by 2029," the current corrugated packaging printing process still predominantly utilizes flexographic printing, holding more than 50% of the market share. Digital printing technology eliminates the need for plate-making, efficiently fulfilling short-run printing tasks, effectively addressing issues such as tight delivery times and unpredictable batch demands for corrugated packaging products, and offers high levels of personalization and customization, meeting the increasing demand for tailored and small-batch packaging. Based on these advantages, digital printing technology is entering the corrugated box packaging sector, with digital printing products accounting for only 1.1% of output in 2024, and expected to continue high-speed growth at a compound annual growth rate of 12.8% over the next five years. In terms of finances, the company achieved operating revenues of approximately 571 million yuan, 569 million yuan, and 612 million yuan for the fiscal years 2023, 2024, and 2025, respectively. During the same period, net profits were approximately 49.88 million yuan, 57.30 million yuan, and 53.53 million yuan.