消费级设备需求系列报告之一：从拓竹科技爆火，看新消费趋势

Investment Rating - The industry investment rating is "Overweight," indicating that the industry is expected to outperform the overall market [8]. Core Insights - The report highlights the rapid growth of the consumer-grade 3D printing industry, driven by factors such as overseas demand and the popularity of trendy products. For instance, the sales of the representative company, Tuo Zhu Technology, increased by 627% year-on-year during the 2025 618 shopping festival [2]. - The report emphasizes the importance of both technological advancements and ecosystem development in establishing a competitive edge in the market. Companies with comprehensive capabilities and strong ecosystem operations are likely to stand out [2]. - The consumer-grade market has significant growth potential, with strong demand not only for 3D printers but also for laser engraving/marking and action cameras [2]. Summary by Sections Company Overview - Tuo Zhu Technology, established in 2020, is a leading player in the consumer-grade 3D printing sector, leveraging its expertise in mechanical design, motion control, and artificial intelligence to achieve significant advancements in printing speed and quality [2]. Demand Side Analysis - The consumer-grade 3D printing market is experiencing rapid growth, with exports reaching 3.8 million units valued at $1.147 billion in 2024, reflecting a year-on-year increase of 31.09% [2]. - The market is driven by diverse customer needs, including customization for individual creators, designers, educational institutions, and small-scale manufacturers [2]. Supply Side Analysis - The report suggests that the future market landscape will be determined by the synergy between technology and ecosystem capabilities, with a focus on user engagement and content development being more critical than hardware alone [2]. Related Investment Targets - Key investment targets in the consumer-grade application sector include: 1. Jietu (laser core components) [2] 2. Sikan Technology (3D scanning core components) [2] 3. Haizheng Biomaterials (leading domestic PLA producer) [2] 4. Yingshi Innovation (global smart imaging device provider) [2].