Core Viewpoint - The article highlights the growth and success story of Creality, the world's largest consumer-grade 3D printing company, which has recently submitted its IPO application to the Hong Kong Stock Exchange. The company has achieved significant market share and revenue growth, primarily driven by its innovative products and overseas expansion strategy [2][3][15]. Company Overview - Creality was founded in 2014 by four young entrepreneurs who recognized the potential of the 3D printing market in China, which was heavily reliant on imported equipment at high prices [5][6]. - The company started with a modest investment of 300,000 yuan and initially focused on OEM production to gain experience [6]. Financial Performance - Creality has achieved annual revenue exceeding 2.2 billion yuan, with a compound annual growth rate (CAGR) of 30% projected from 2022 to 2024 [3][18]. - The company holds a 28% market share in the global consumer-grade 3D printing products and services market, making it the leader in this sector [3][18]. Product Development and Market Strategy - The flagship product, the Ender-3, has sold over 3 million units and remains a top seller in the 3D printing market [8][9]. - Creality has transitioned from an OEM to a self-branded company, launching its own brand, CREALITY, in 2019 [9][14]. - The company has diversified its product offerings to include 3D printing consumables, scanners, and laser engraving machines, with significant growth in these areas [19][21]. Market Expansion - Approximately 70% of Creality's revenue comes from overseas markets, with North America accounting for 30% and Europe for 23% [17][18]. - The company has established a wide distribution network with over 2,000 dealers globally and has effectively utilized social media for marketing [10][12]. Research and Development - Creality has consistently increased its R&D investment, reaching 150 million yuan in 2024, which is 6.5% of its revenue [24]. - The company employs a skilled workforce, with 10.6% holding master's degrees or higher, focusing on innovation in product development [24]. Future Outlook - The global market for consumer-grade 3D printers is projected to reach $16.9 billion by 2029, with a CAGR of 33%, driven by advancements in AI technology [26]. - Creality plans to use the funds raised from its IPO for product and technology development, strategic partnerships, and enhancing its cloud services [15][26].

Group 1 - The core point of the article is that Creality, a leading global provider of consumer-grade 3D printing products and services, has submitted its IPO application to the Hong Kong Stock Exchange, marking a significant step in its growth journey [1][3] - Creality is recognized as the largest provider in the consumer-grade 3D printing market, holding a market share of 27.9% from 2020 to 2024 based on cumulative shipment volume [1][2] - The company has experienced substantial revenue growth, with projected revenues of 13.46 billion, 18.83 billion, and 22.88 billion yuan for the years 2022, 2023, and 2024 respectively, reflecting a compound annual growth rate of 30.4% [6][8] Group 2 - Creality's successful journey began in 2014 when four founders identified a gap in the consumer-grade 3D printing market, leading to the establishment of the company with an initial investment of 300,000 yuan [4][5] - The company has expanded its product offerings to include 3D printers, 3D printing materials, 3D scanners, and laser engraving machines, and has recently launched an overseas e-commerce platform focused on 3D creative products [6][8] - As of the first quarter of 2025, Creality's revenue reached 7.08 billion yuan, with a year-on-year growth of 28.67%, and a profit of 81.56 million yuan, reflecting an 18.1% increase [7][8] Group 3 - The company has seen a steady increase in its gross profit and gross profit margin, with gross profits of 3.878 billion, 5.995 billion, and 7.078 billion yuan for the years 2022, 2023, and 2024, and a gross profit margin of 28.8%, 31.8%, and 30.9% respectively [8] - The online sales channel has significantly contributed to revenue growth, with its share increasing from 13.5% in 2022 to 40.9% in 2024, and reaching 47.9% in the first quarter of 2025 [8] - The competitive landscape in the 3D printing industry is intensifying, with several new entrants and established players vying for market share, highlighting the need for continuous innovation and adaptation [10][16] Group 4 - The IPO is expected to provide Creality with the necessary capital to invest in research and development, global brand promotion, and sales channel development, which are crucial for sustaining its growth trajectory [17][18] - The company aims to leverage its early market entry, brand recognition, and technological foundation to capitalize on emerging market opportunities [17] - The global 3D creative industry is experiencing rapid growth, driven by advancements in artificial intelligence, hardware performance, and digital manufacturing technologies [16]

Core Viewpoint - Shenzhen-based Creality, a leading player in the consumer 3D printing industry, is preparing for an IPO in Hong Kong, aiming to capitalize on the growing demand for personalized and customized products driven by advancements in AI and smart manufacturing [1][5]. Company Overview - Creality was founded in 2014 by four young entrepreneurs with an initial investment of 300,000 yuan and has since become a significant player in the consumer 3D printing market, holding a 27.9% market share as of 2024 [1][3]. - The company has launched several successful products, including the CR-i3 and CR-10, which disrupted the high pricing of international competitors by offering lower-cost alternatives [2][3]. Financial Performance - Creality's revenue is projected to grow from 1.346 billion yuan in 2022 to 2.288 billion yuan in 2024, reflecting a compound annual growth rate (CAGR) of 30.4% [3]. - The company's gross profit for the same period is expected to increase from 388 million yuan in 2022 to 708 million yuan in 2024, with gross margins improving from 28.8% to 30.9% [3]. Market Position - Creality is the largest provider of consumer 3D printing products and services globally, with a second-place market share in consumer 3D printers and first in consumer 3D scanners [3]. - The consumer 3D printing market is expected to see significant growth, with shipments projected to rise from 4.1 million units in 2024 to 13.4 million units by 2029, achieving a CAGR of 26.6% [5]. Investment and Funding - Prior to the IPO, Creality raised 6 billion yuan in 2020 from several investors, marking its first external funding round [4]. - The company plans to use the proceeds from the IPO to enhance its global operations, brand promotion, and innovation efforts [9]. Competitive Landscape - The consumer 3D printing industry is becoming increasingly competitive, with new entrants and established companies expanding their presence [5][6]. - Creality's revenue from 3D printers has been declining as a percentage of total revenue, indicating a need for diversification [5]. Strategic Initiatives - Creality is focusing on enhancing its research and development efforts, with R&D spending increasing from 87.5 million yuan in 2022 to 149 million yuan in 2024 [6]. - The company is also expanding its international presence through partnerships with e-commerce platforms and localizing its marketing strategies [7].

Core Viewpoint - The company Creality, a leading provider of consumer-grade 3D printing products and services, has submitted its IPO application to the Hong Kong Stock Exchange, marking a significant step in its growth trajectory and global expansion [2][5]. Company Overview - Creality is recognized as the largest provider of consumer-grade 3D printing products and services globally, with a market share of 27.9% from 2020 to 2024 [2]. - The company was founded in 2014 by four co-founders who identified a gap in the consumer-grade 3D printer market and started with an initial investment of 300,000 RMB [6][12]. - Creality has evolved from its early days of limited resources to becoming a major player in the 3D printing industry, launching several successful products, including the CR-10, which significantly disrupted pricing in the overseas market [9][11]. Financial Performance - The company's revenue projections for 2022, 2023, and 2024 are 1.346 billion RMB, 1.882 billion RMB, and 2.288 billion RMB, respectively, reflecting a compound annual growth rate of 30.4% [14]. - The profit figures for the same years are projected to be 104 million RMB, 129 million RMB, and 88.66 million RMB [14]. - The gross profit and gross margin have shown a steady increase, with gross profits of 387.8 million RMB in 2022 and a gross margin of 28.8% [14]. Market Position and Strategy - Creality's market position is strong, with the company holding the second-largest market share in consumer-grade 3D printers, the largest in consumer-grade 3D scanners, and the third-largest in consumer-grade laser engraving machines as of 2024 [14]. - The company has expanded its product line to include 3D scanners, laser engraving machines, and a new e-commerce platform focused on 3D creative products [12]. - The online sales channel has seen significant growth, increasing from 13.5% of total revenue in 2022 to 47.9% in the first quarter of 2025 [15]. Investment and Funding - Prior to the IPO, Creality secured 508.5 million RMB in a Series A funding round in 2021, with notable investments from top-tier venture capital firms in Shenzhen [3][17]. - The company plans to use the funds raised from the IPO primarily for research and development, global brand promotion, and sales channel development [28]. Competitive Landscape - The 3D printing industry is experiencing increased competition, with several new entrants and established players vying for market share [21][24]. - Creality's early entry into the market and established brand recognition provide it with a competitive edge, but the company must continue to innovate and adapt to maintain its position [29].

近日，深圳市创想三维科技股份有限公司（简称"创想三维"）向港交所递交招股书，拟在港交所上市。 招股书显示，2022年至2024年，创想三维营收增长，但净利润增速放缓，2024年净利润同比下降。同时，公司在线销售的很大一部分依 赖于某些在线平台。 提供3D打印产品及服务 招股书显示，创想三维是消费级3D打印产品及服务提供商。创想三维的产品及服务主要包括：3D打印机、3D打印耗材以及创想云（其 专注于3D打印内容的全球在线社区）上提供的各类服务。凭借品牌及技术专长，公司扩展了产品线，涵盖3D扫描仪、激光雕刻机及配 件。此外，公司于近期推出一个专注于3D创意成品的海外电商平台——Nexbie。 根据灼识咨询资料，按2020年—2024年消费级3D打印机累计出货量计，创想三维是全球最大的消费级3D打印产品及服务提供商，市场 占有率为27.9%。 创想三维专注于研究开发赋能3D打印机的关键技术，特别是在机械设计、电子电气系统、运动控制算法、切片软件和固件等领域。 公司销售网络主要由在线门店和线下分销渠道组成。截至2025年3月31日，公司拥有74家自营在线门店及2163家经销商。公司销售网络 涵盖全球约140个国家和地 ...

前言 《金牌纪要库》是财联社VIP倾力打造的一款高端会议纪要类产品，结合财联社的媒体资源和行业圈层 优势，为投资者提供全面、深入的市场及行业洞察，以及专业分析和解读。 栏目专注于捕捉投资市场 的最新题材机会，通过一线记者的即时报道、资深编辑的专业整理，以及行业资深专家的深度访谈，为 投资者提供前瞻性、独家性、热门性及专业性的市场分析。 ①渗透率陡增！商业火箭发动机制造领域导入3D打印工艺，可大幅降低重量、成本和制作时长，这家企业 通过3D打印技术为液氧甲烷发动机生产大量关键部件；②耗材为制约3D打印技术大规模应用的主要因素 之一，高技术壁垒支撑行业毛利率居高不下，这些企业可为国内提供提供3D打印专用PLA原料和粉末材 料；③消费级3D打印市场由拓竹占据最高市场份额，这家上市企业为拓竹提供代工服务。 ...

Core Viewpoint - Shenzhen has emerged as a leading hub for consumer-grade 3D printing, with over 80% of China's 3D printers exported from the Greater Bay Area, significantly driven by local companies like Creality, Bambu Lab, and Elegoo [2][5]. Group 1: Market Dynamics - In the first seven months of this year, Shenzhen accounted for over 90% of global shipments of entry-level 3D printers, with Creality holding a 39% market share [5][10]. - The global entry-level 3D printer market is projected to see a shipment of over 1 million units by Q1 2025, with a 15% year-on-year growth, and Chinese suppliers dominating this segment [2][10]. Group 2: Company Performance - Creality has achieved continuous revenue growth, surpassing 1 billion yuan for three consecutive years, with a projected revenue of 2.288 billion yuan in 2024 [7]. - Bambu Lab has become a unicorn with a valuation exceeding 10 billion yuan, driven by the success of its Bambu Lab X1 printer, which offers industrial-grade performance at consumer prices [9][10]. - Elegoo has reported sales exceeding 1.2 billion yuan in 2023, with its products sold in over 100 countries, capturing a significant share of the North American and European markets [8]. Group 3: Industry Structure - Shenzhen has developed a complete 3D printing industry chain, including modeling systems, materials, equipment, and application services, establishing itself as a global leader in consumer-grade 3D printing [3][12]. - The local industry is characterized by a collaborative ecosystem, with companies like Smart Technology and Anycubic contributing to rapid production capabilities, assembling a printer every two minutes [13][15]. Group 4: Future Outlook - The global 3D printing market is expected to grow at an annual rate of 20%, with projections indicating a market size exceeding $50 billion by 2028 [12][14]. - The increasing demand for personalized and customized products is driving the expansion of 3D printing from industrial applications to consumer markets [6][12].

记者丨吴佳楠 编辑丨孙超逸 3D打印这一小众赛道，深圳悄然坐上了"第一把"交椅。 根据海关总署最新数据，今年前7个月，大湾区内地9市出口了我国超八成的3D打印机。 在这当中，深圳功不可没。市场机构CONTEXT报告显示，2025年第一季度，入门级3D打印机全球出货 量超过100万台，同比增长15%，中国供应商占本季度全球入门级打印机出货量的95%。其中，Creality 市场份额为39%，Bambu Lab出货量同比增长64%，Elegoo实现强劲增长。 Creality、Bambu Lab、Elegoo分别是深圳企业创想三维、拓竹科技、智能派创设的出海品牌，不止于这 几家3D打印设备制造企业，在深圳，还有升华三维、深圳快造等品牌新锐，更有极光创新、大族激 光、安克创新等上市企业的入局。 如今，深圳已初步形成建模系统、材料、设备、应用服务的3D打印全产业链，堪称"消费级3D打印第一 城"。 正是这些品牌新锐和产业链龙头的协同发力。今年上半年，深圳全市高技术产品产量持续快速增长， 3D打印设备产品产量增长35.8%。 | | 深圳3D打印行业部分代表企业 | | | --- | --- | --- | | 企业 ...

Core Viewpoint - Shenzhen has emerged as a leading hub for the 3D printing industry, dominating the global market with over 80% of China's 3D printer exports and a significant share of the entry-level 3D printer market [2][10]. Industry Overview - The Greater Bay Area's nine cities exported over 80% of China's 3D printers in the first seven months of the year, with Shenzhen playing a crucial role [2]. - The global shipment of entry-level 3D printers is expected to exceed 1 million units by Q1 2025, with a year-on-year growth of 15%, and Chinese suppliers accounting for 95% of this market [2]. - Shenzhen has developed a complete 3D printing industry chain, including modeling systems, materials, equipment, and application services, establishing itself as the "first city of consumer-grade 3D printing" [3][14]. Company Highlights - Major Shenzhen companies in the 3D printing sector include Creality, Bambu Lab, and Elegoo, which have achieved significant market shares and growth rates [2][3]. - Creality holds a 39% market share in entry-level 3D printers, while Bambu Lab's shipments grew by 64% year-on-year [2]. - Companies like Smart Tech and Anycubic have also seen substantial growth, with Smart Tech's sales surpassing 1.2 billion yuan in 2023 and Anycubic achieving over 1 billion yuan in revenue [7][8]. Market Dynamics - The consumer-grade 3D printer market was historically dominated by foreign brands, but Shenzhen companies have disrupted this with competitive pricing and innovative products [5][10]. - The global 3D printing market is expanding at an annual rate of 20%, with projections indicating a growth of over 220% by 2028, potentially exceeding $50 billion [13]. Innovation and Strategy - Shenzhen companies are employing various strategies for international expansion, including building independent platforms, community engagement, and localized marketing efforts [11]. - The region's robust supply chain and manufacturing capabilities enable rapid production, with some companies assembling a printer every two minutes [12][14].

Group 1: IPO Activities - Guangzhou Yinnuo Pharmaceutical Group Co., Ltd. officially listed on the Hong Kong Stock Exchange on August 15, 2025, under the stock code "2591" [2] - Yinnuo Pharmaceutical issued a total of 36,556,400 H shares, with the Hong Kong public offering being oversubscribed by 5,341.66 times and the international offering by 10.67 times [2] - Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd. listed on the Hong Kong Stock Exchange on August 11, 2025, under the stock code "2627" [4] Group 2: Company Products and Innovations - Yinnuo Pharmaceutical has developed a candidate drug pipeline targeting diabetes and other metabolic diseases, including the core product Isupatide α, which is in clinical development for obesity and metabolic dysfunction-related fatty liver disease (MASH) [2][3] - Zhonghui Yuantong's core product, the quadrivalent influenza virus subunit vaccine, is the first and only approved vaccine of its kind in China, showing strong immune response and low adverse reaction risks [4][5] - Shenzhen Chuangxiang Sanwei Technology Co., Ltd. is a leading provider of consumer-grade 3D printing products and services, with a market share of 27.9% in the global consumer-grade 3D printing sector [6] Group 3: Financial Performance - Chuangxiang Sanwei's revenue from 2022 to 2024 was 1.346 billion, 1.883 billion, and 2.288 billion yuan, with a compound annual growth rate of 30.4% [7] - BeBeBus, under Butong Group, achieved revenues of 507 million, 852 million, and 1.249 billion yuan from 2022 to 2024, with a 24.7% increase in the first half of 2025 [10] - Chuangxiang Sanwei's gross profit margins from 2022 to 2024 were 28.8%, 31.8%, and 30.9%, with a first-quarter margin of 35.2% in 2025 [8]