xTool向港交所提交上市申请书

Core Viewpoint - xTool has submitted an IPO application to the Hong Kong Stock Exchange, with Morgan Stanley and Huatai International as joint sponsors, aiming to strengthen its market position as a leading global brand in personal creative tools [1]. Group 1: Company Overview - xTool is a leading global brand in personal creative tools, focusing on providing professional and intelligent laser-based tools and material printers for individual consumers, small business owners, and retail brands [1]. - The company has received significant investments, including approximately $200 million in a pre-IPO (D round) funding led by Tencent, with participation from several top-tier institutions [1]. Group 2: Technology and Innovation - Approximately 56% of xTool's employees are involved in research and development, highlighting the company's commitment to innovation [2]. - xTool's technological advantage lies in the integration of precision optics, intelligent CNC control, and AI algorithms, creating a highly adaptable technology platform that accelerates product innovation [2]. - The core of xTool's intelligent experience is AImake, an AI-driven engine that connects creativity with smart manufacturing, continuously learning from user data to enhance performance [2]. Group 3: Market Performance and User Engagement - About 80% of xTool's users utilize their devices monthly, with 40% using them daily for physical creative projects, indicating strong user engagement [3]. - The company has over 210,000 active users participating in its Atomm online community, which has shared more than 40,000 works [3]. - xTool's revenue increased from 1.46 billion to 2.48 billion yuan from 2023 to 2024, representing a 70% year-on-year growth, with continued strong growth expected in 2025 [3]. - In June 2025, xTool launched its first apparel printer, capturing 12.7% of the global DTF market segment, ranking third globally based on GMV for the first nine months of 2025 [3].