A-share subscription | Century Digital (920229.BJ) opens subscription for digital printers with a domestic market share of 27% in 2024

The Zhitong Finance App learned that on September 9, Century Digital (920229.BJ) began the subscription. The issuance price was 15.67 yuan/share, and the subscription limit was 467,500 shares, with a price-earnings ratio of 13.49 times. It belongs to the Beijing Stock Exchange, and Orient Securities is its sponsor.

According to the prospectus, Century Digital is centered on digital printing technology. Its main business focuses on industrial applications of digital textile printing, advertising signs, and digital printing of corrugated box packaging. It specializes in R&D, production and sales of digital inkjet printing equipment and related accessories and consumables such as digital inkjet printers, digital printers, and corrugated color box digital printers.

According to the “Certificate” issued by the Advertising Production and Display Professional Committee of the China Business Advertising Association, the company's digital printers (micropiezoelectric digital photo equipment) had a domestic market share of 27% in 2024, ranking first; according to the “2024 China Textile Digital Inkjet Printing Development Report” issued by the China Printing and Dyeing Industry Association, the installed capacity of digital heat transfer printing machines in China in 2023 was 6,400. According to the number of digital heat transfer printers sold by the company to the domestic market in 2023, the company's domestic market share is about 25%, ranking first in the industry; The first “roll-to-roll” corrugated color box digital printer launched in China was recognized as “the first (set) major technical equipment in Henan Province” in September 2025.

Currently, the application of digital printing technology is still mainly in traditional printing fields such as books, magazines, and photo albums, and in the field of advertisement printing, accounting for nearly 60%. The penetration rate in the textile printing field is low, accounting for less than 10%. In the future, as technology continues to advance and market demand grows, the application field of digital printing technology will expand further.

In recent years, as aesthetic differences and demand for unique individualization have grown, the DIY market has emerged. According to Fortune Business Insights data, the global handicraft market is US$1218.77 billion in 2025, and is expected to reach US$1,341.26 billion by 2026. More and more people are participating in DIY handicraft production activities. In the field of clothing, ironing machines can be used to personalize products such as T-shirts, sweatshirts, sportswear, etc., and can meet the small-batch order needs of trendy brand production, niche designer brand customization, and e-commerce platforms; in the field of home decoration, they can be used to stamp patterns on fabric products such as curtains, pillows, tablecloths, etc.; in the field of gift customization, they can efficiently complete pattern printing on clothing accessories such as canvas bags and cultural shirts. It is widely suitable for various scenarios such as holiday promotions, team building, and event commemorations.

According to “The Future of Packaging and Printing by 2029” published by Smithers, the current corrugated packaging printing process is still dominated by flexographic printing, accounting for more than 50% of the market share. Digital printing technology does not require plate making, can efficiently complete short printing tasks, can effectively solve problems such as urgent delivery and uncertain demand for corrugated packaging products, and has a high degree of individualization and customization advantages, which can meet the increasing demand for customization and small-batch packaging. Based on the above advantages, digital printing technology is entering the field of corrugated box packaging. In 2024, digital printing products in the corrugated packaging sector will account for only 1.1% of production, and it is expected that the next five years will continue to grow rapidly at a compound annual growth rate of 12.8%.

On the financial side, in 2023, 2024, and 2025, the company achieved operating income of about 571 million yuan, 569 million yuan, and 612 million yuan respectively; for the same period, net profit was approximately 498.781 million yuan, 57.2966 million yuan, and 53.5283 million yuan, respectively.