一天卖出一个亿！大卖靠小众品类冲刺上市

Core Viewpoint - xTool, a high-end consumer technology brand, has submitted its application for a mainboard listing, marking a significant step towards capitalizing on its growth and establishing itself as the first publicly listed consumer-grade laser engraving machine company in China [1][2]. Company Overview - Founded in 2021 and originating from Shenzhen, xTool has rapidly evolved from a STEAM education robotics focus to the consumer-grade laser equipment sector, creating a comprehensive ecosystem of "hardware + software + services" [3][5]. - The brand's product line includes laser engraving machines, cutting machines, and various printing devices, supported by the xTool Studio software platform and a user community called Atomm [5]. Financial Performance - xTool has demonstrated impressive revenue growth, with total revenue increasing from RMB 14.57 billion in 2023 to RMB 24.76 billion in 2024, representing a year-on-year growth of 70% [10]. - For the first three quarters of 2025, revenue reached RMB 17.77 billion, reflecting an 18.6% year-on-year increase, with a gross margin maintained at 56.0% [10]. Global Market Presence - The company has established a strong global presence, with 97% of its revenue coming from overseas markets, primarily from developed regions in Europe and North America [6][10]. - xTool's products are available in over 80 countries, and its independent sales platform has become a significant revenue driver, accounting for over 60% of total sales [7][10]. Competitive Positioning - Despite a high-end market positioning, xTool has achieved a 37% global market share in personal creative tools, with its laser engraving machines leading the segment with a 47% market share [11][12]. - The company has successfully launched a clothing printer that captured 12.7% of the global DTF market within months, indicating its ability to innovate and diversify its product offerings [12]. Investment and Funding - xTool has attracted significant investment, completing a $200 million Series D funding round led by Tencent, with participation from other notable investors, which supports its R&D and global expansion efforts [14]. - The upcoming IPO aims to raise funds for enhancing R&D, increasing global brand influence, and strengthening supply chain resilience [17]. Industry Outlook - The global market for technology-enabled personal creative tools is projected to grow from $6.8 billion in 2024 to $87 billion by 2035, indicating substantial growth potential [14]. - However, the company faces challenges such as rapid technological advancements and the need for effective supply chain management in a competitive landscape [14][17].