Fulai New Material Surges significantly after launching US Unit to expand Haptic Sensing Business

Fulai New Material, a Chinese company known for its multifunctional coating composite films, saw a significant increase in its share value after announcing the establishment of a subsidiary in California to expand its operations in the North American market. The company’s shares, listed on the Shanghai Stock Exchange as SHA: 605488, rose by the maximum daily limit of 10 percent, closing at CNY40.40 (USD5.68) per share. This surge in stock price marks a remarkable 168 percent increase since the previous year.

The newly formed subsidiary, named Apex Sensing, was officially registered in San Francisco. Fulai aims to capitalize on its core technologies in the flexible sensing sector through this new venture. The primary goal of Apex Sensing is to provide local partners in North America with enhanced supply chain support and tailored solutions for haptic sensing products. By leveraging its expertise in this field, Fulai intends to collaborate with North American clients to bring innovative embodied intelligence technology to the market.

Fulai is well-known for its technical capabilities in flexible sensors, particularly its flagship product – electronic skin, which boasts impressive flexibility and advanced 3D force-sensing capabilities. These haptic sensors find applications in diverse sectors such as robotic touch, industrial inspection, healthcare, and new energy batteries. Despite facing a 20 percent decline in net profit, the company reported operating revenue of CNY1.33 billion (USD187.6 million) in the first half of the year, indicating a 15 percent year-on-year increase.

In a bid to ramp up production and meet growing demand, Fulai has successfully completed and launched its first pilot production line for flexible sensors. This milestone has significantly enhanced the company’s manufacturing capacity, enabling mass production and supply. It is worth noting that despite the progress in production capabilities, the flexible sensor project had not generated any revenue or profit as of February.

Fulai’s strategic move to expand its presence in the North American market through the establishment of Apex Sensing underscores its commitment to innovation and growth. By tapping into new geographical territories and forming strategic partnerships with local players, the company aims to consolidate its position as a leading provider of cutting-edge haptic sensing solutions. With a strong foundation in flexible sensor technology and a track record of technical excellence, Fulai is poised to make significant strides in the global market for sensory products and technologies.