年入25亿，深圳理工男冲刺“消费级激光雕刻机第一股”，腾讯押注

Core Viewpoint - xTool is positioned to become the leading consumer-grade laser engraving machine company, with a successful IPO planned on the Hong Kong Stock Exchange, backed by significant investments from major firms like Tencent and Sequoia China [2][3]. Company Background - Founded by Wang Jianjun in 2021, xTool emerged from the Shenzhen Maker Space, which previously focused on STEAM education [2][3][5]. - The company pivoted to consumer-grade laser engraving machines after recognizing market demand in overseas markets, particularly in the U.S. and Europe [3][7]. Funding and Ownership - xTool raised approximately $200 million in a D-round financing led by Tencent in September 2025 [3][6]. - Wang Jianjun holds 31.38% voting rights, with Sequoia China as the largest external shareholder at 10.85% [3]. Product Development and Market Strategy - xTool's product line includes various models like D1 and M1, which are designed for ease of use and affordability compared to industrial-grade machines [11][15]. - The company has adopted a multi-channel sales strategy, primarily focusing on online sales through its official website and major e-commerce platforms [20]. Market Performance - xTool has achieved a 47% market share in the laser engraving machine segment, significantly outperforming competitors [18][22]. - Revenue figures show substantial growth, with 2024 revenue projected at 2.476 billion RMB, a 70% increase from 2023 [18]. Competitive Landscape - The laser engraving market is competitive, with players like LaserPecker and Glowforge posing challenges. However, xTool differentiates itself through higher quality and innovative features [24][26]. - The company has established over 300 demo rooms and 40 service stations in Europe to enhance customer experience and support [24]. Future Outlook - xTool aims to maintain its market leadership through continuous innovation and rapid execution, with plans for further investment in research and development [28].