Core Viewpoint - xTool, a high-end consumer technology brand, is set to go public on the Hong Kong Stock Exchange, having submitted its prospectus on January 1, 2026, with plans to raise funds for R&D, brand building, and supply chain development [5][6]. Group 1: Company Overview - xTool's main business focuses on laser-based personal creative tools and material printers, targeting individual consumers, small and medium-sized enterprises (SMBs), and retail brands [7]. - The company achieved a revenue of over 2 billion RMB in 2024, with a significant growth trajectory [4]. Group 2: Market Position and Growth - xTool holds the leading position in the global laser personal creative tools market, with a market share of 37% in the first nine months of 2025, and 47% in the laser engraving machine segment, significantly outpacing competitors [7]. - Revenue growth from 2023 to 2024 is projected to increase from 14.6 billion RMB to 24.8 billion RMB, representing a 70% year-on-year growth [7]. Group 3: Financial Performance - The company's gross margins for 2023, 2024, and the first nine months of 2025 are reported at 59.2%, 54.4%, and 56.0% respectively, with adjusted net profit margins of 12.6%, 10.4%, and 9.7% [8]. - The average selling price of core products increased from approximately 12,000 RMB in 2023 to 21,000 RMB in the first nine months of 2025, exceeding industry averages by 10%-30% [8]. Group 4: User Engagement and Community - Approximately 80% of users engage with their devices monthly, with 40% using them daily. The company has established 470 communities across 32 countries, with over 210,000 active users on its self-operated overseas community platform [9]. - The global market for technology-enabled personal creative tools is expected to grow from 6.8 billion USD in 2024 to 39.1 billion USD by 2030, with a compound annual growth rate (CAGR) of 33.8% [9]. Group 5: Future Outlook - The personal creative tools sector is seen as having significant growth potential, with xTool's IPO marking a notable event in the industry, potentially making it the first publicly listed company in the consumer-grade laser engraving machine market [10].