Core Insights - Since 2025, the Chinese 3D printing industry has entered a phase of capital frenzy, marked by significant investments and IPO attempts, indicating a shift towards large-scale and capitalized growth [1][2]. Group 1: Capital Influx - On December 10, consumer-grade 3D printing brand Kuaizao Technology announced it completed a multi-hundred million yuan Series B financing led by Hillhouse Capital and Meituan, with funds allocated for multi-color printing technology development and global talent acquisition [2]. - Kuaizao Technology, founded in 2016 and headquartered in Shenzhen, has a product line that includes multifunctional printers and high-efficiency multi-color printers, with its flagship product U1 achieving a crowdfunding record of 150 million yuan, reflecting strong market demand [2]. - DJI, a drone giant, invested several hundred million yuan in Smart Pie, indicating confidence in the growth potential of consumer-grade 3D printing technology [2]. - Other major players, including Tencent and Shenzhen Capital Group, are also backing companies like Chuangxiang Sanwei, which plans to raise funds through an IPO to enhance R&D and expand into overseas markets [2][3]. Group 2: Industry Growth and Trends - The number of investment and financing events in the industry reached a near five-year high since 2025, with over 40 occurrences, showing a clear trend of capital concentrating on leading projects [4]. - Shenzhen has emerged as a hub for the 3D printing industry, with significant contributions from consumer-grade products, as evidenced by 3D printer exports reaching 3.7777 million units in 2024 [5]. - In Q1 2025, global shipments of entry-level 3D printers (priced below $2,500) surpassed 1 million units, with Chinese suppliers accounting for 95% of the market share, led by Chuangxiang Sanwei with a 39% share [5]. Group 3: Company Performance - Tuo Zhu Technology, founded in 2020 by former DJI engineers, achieved revenue between 5.5 billion to 6 billion yuan in 2024, with a net profit nearing 2 billion yuan and a net profit margin exceeding 30% [5]. - Smart Pie, established in 2015, initially focused on STEM education kits but pivoted to 3D printing, launching its first resin printer at a competitive price, thus capturing the mid-to-low price market [6]. - Zongwei Lifang has expanded its business globally, generating over 1 billion yuan in annual revenue since 2016 [6]. Group 4: Industry Ecosystem and Demand - The industry's growth is driven by a confluence of technological advancements, policy support, and rising demand, with AI integration lowering usage barriers and enhancing user experience [7][8]. - The demand for 3D printing is surging, particularly among Gen Z consumers seeking personalized products, with sales of 3D printing-related categories during the 2025 JD 618 shopping festival increasing over threefold year-on-year [8]. - Policies supporting the industry, such as subsidies for desktop 3D printing devices, are expected to drive down entry-level equipment prices to around 1,000 yuan [8].

Core Insights - The founder of Tuozhu Technology, Tao Ye, revealed in a social media post that DJI has invested in a 3D printing company, indicating a strategic interest in the growth potential of consumer-grade 3D printing technology [1][3] - The consumer-grade 3D printing market is experiencing significant growth, with a 60% price drop in printers over the past three years, making them more accessible to consumers [2][4] - Tuozhu Technology leads the market with a projected revenue of 5.5 to 6 billion yuan and a net profit close to 2 billion yuan for 2024, while its competitors are also seeing substantial growth [4][5] Market Dynamics - The entry price for consumer-grade 3D printers has decreased to under 2,000 yuan, supported by improved software tools that lower the creative barrier for users [2] - The global shipment of entry-level 3D printers is expected to exceed 1 million units by Q1 2025, with Chinese suppliers contributing 95% of this volume [3][4] - The competitive landscape has shifted from fragmented competition to a market dominated by a few Chinese brands, particularly in Shenzhen, which has become a hub for 3D printing innovation [3][4] Company Performance - Tuozhu Technology, along with three other Shenzhen companies, holds 90% of the global market share for entry-level 3D printers, earning the nickname "Four Little Dragons of Shenzhen" [3][4] - In Q1 of this year, Tuozhu's revenue reached 2 billion yuan, indicating strong performance and market demand [4] - Smart派, another player in the market, is projected to achieve sales of 1.6 billion yuan and ship 550,000 units in 2024, showcasing rapid growth in the entry-level segment [5] Competitive Landscape - The 3D printing industry is evolving from a niche market to a mainstream business, with applications expanding into education, customized toys, and small part manufacturing [4][5] - The industry is characterized by a focus on product quality, with companies needing to excel in hardware, software, and content ecosystems to maintain competitive advantages [6][7] - The establishment of user communities and ecosystems is crucial for enhancing customer loyalty and driving repeat purchases, as seen with Tuozhu's MakerWorld platform [7][8] Future Outlook - The 3D printing sector is expected to face intensified competition, with companies preparing for challenges ahead [9] - The rapid assembly capabilities and responsiveness to market changes in Shenzhen's manufacturing environment contribute to the competitive edge of local firms [8]

Core Viewpoint - The article discusses the recent investment by DJI in a 3D printing company, highlighting the growth potential of the consumer-grade 3D printing market and the competitive landscape dominated by Shenzhen-based companies [1][6][10]. Group 1: Investment and Market Dynamics - DJI's investment in a 3D printing company is confirmed, reflecting its confidence in the growth potential of consumer-grade 3D printing technology [1][6]. - The consumer-grade 3D printer prices have decreased by 60% over the past three years, making entry-level models available for under 2000 yuan [3][6]. - The global entry-level 3D printer shipment is expected to exceed 1 million units by Q1 2025, with Chinese suppliers contributing 95% of this market, primarily from companies like拓竹科技 and 创想三维 [6][10]. Group 2: Competitive Landscape - Four Shenzhen companies, including 拓竹科技, 创想三维, 纵维立方, and 智能派, hold 90% of the global entry-level 3D printer market share, earning the nickname "Four Little Dragons of Shenzhen" [5][6]. - 拓竹科技 is projected to achieve revenues between 55 billion to 60 billion yuan in 2024, with a net profit nearing 20 billion yuan [7][8]. - 智能派 is rapidly increasing its market presence, with expected sales of 1.6 billion yuan and a shipment of 550,000 3D printers in 2024 [8][10]. Group 3: Industry Trends and Innovations - The 3D printing industry is evolving from a niche market to a mainstream business, with applications expanding into education, customized toys, and small part manufacturing [8][10]. - The establishment of a comprehensive 3D printing ecosystem in Shenzhen, including modeling systems, materials, equipment, and application services, is enhancing the region's competitive edge [6][11]. - The community aspect, such as 拓竹科技's MakerWorld, plays a crucial role in user retention and lowering usage barriers, with nearly 10 million monthly active users and over a million models available [11][12].