Core Insights - Recent reports suggest that拓竹科技 is nearing the completion of a new financing round with Tencent participating, potentially valuing the company at $10 billion [1] -拓竹科技 has denied the accuracy of the financing report [1] Company Overview -拓竹科技 was established in 2020 and is headquartered in Shenzhen, China, with R&D centers in Shenzhen and Shanghai [1] - The company's first product, the X1 series high-speed intelligent 3D printer, aims for top performance in the industry, achieving significant advancements in key performance metrics [1] Product and Technology Development - The X1 series printer incorporates multi-color printing and supports high-performance engineering plastics, bringing industrial-grade printing technology to consumer-level products [1] -拓竹科技's MakerWorld platform has integrated Tencent's混元 3D generation model, allowing entry-level users to quickly generate high-quality, printable 3D models through simple text and image inputs [2] - This integration significantly simplifies the modeling process, reduces design cycles, and enhances customization response speed [2] Partnership and Future Projections - In July 2023,拓竹科技 entered into a comprehensive partnership with Tencent Cloud, with MakerWorld fully integrating the混元 3D generation model [3] - Following this integration, the expected monthly usage is projected to exceed 100,000 calls [3]

作者 | 张子怡 编辑 | 袁斯来 杨轩 近日，多位投资人及3D打印行业人士告诉硬氪，拓竹接近完成最新一轮融资，腾讯参投，公司估值或 达100亿美金。 这次融资已有前兆。今年7月30日，拓竹与腾讯云达成全面合作，旗下3D模型平台MakerWorld将全面接 入腾讯混元3D生成模型。有投资人告诉硬氪："腾讯参投后，双方未来会在软件端进行一定程度的合 作。" 硬氪就上述信息和拓竹、腾讯方面求证，双方表示消息不实。 值得注意的是，腾讯也是老牌3D打印企业创想三维的股东之一，后者正在冲击港股IPO。 拓竹则是近年来一级市场最为耀眼的独角兽企业之一。根据东吴证券研报显示，去年拓竹营收预计达到 55-60亿元，净利润接近20亿元。同时，多家媒体报道，拓竹出货量已超120万台，在全球市占率达 29%。 拓竹上一轮融资完成于2023年，投资方包括铭石投资、淡马锡、True Light、五源资本，具体投资金额 未披露。 拓竹惊人的成长速度，源于其商业模式的稀缺性：它不仅找到了一个快速增长的市场，更用领先于同侪 两代的产品迅速铺开市场。 Precedence Research的最新数据显示，全球3D打印市场规模在2024年达到2 ...

Core Viewpoint - A competitive landscape is emerging in the 3D printing industry, particularly in Shenzhen, as DJI invests in a rival company, Smart Pie, raising concerns for its former employee, Tao Ye, founder of Tuo Zhu Technology [1][2][3]. Group 1: Investment and Market Dynamics - DJI has invested in Smart Pie, a domestic 3D printing company, indicating its confidence in the growth potential of the consumer-grade 3D printing market [4][12]. - The global 3D printing market is projected to reach $24.61 billion (approximately 1700 billion RMB) in 2024, with an expected annual growth rate of 18.5% over the next decade [12][13]. - The consumer-grade segment is anticipated to grow significantly, reaching $4.1 billion in 2024, accounting for 16% of the overall market, with a remarkable annual growth rate of 28% [15]. Group 2: Company Performance and Competition - Tuo Zhu Technology has rapidly grown, achieving revenues exceeding 5 billion RMB in just four years, outpacing DJI's growth trajectory during its early years [10][17]. - Tuo Zhu's revenue for 2024 is projected to be between 5.5 billion and 6 billion RMB, with a net profit nearing 2 billion RMB [17]. - The competitive landscape is dominated by four Shenzhen companies—Tuo Zhu Technology, Smart Pie, Zongwei Lifang, and Chuangxiang Sanwei—holding 90% of the global entry-level 3D printer market [16][26]. Group 3: Technological Advancements - Advances in technology and user experience have driven the explosion of consumer-grade 3D printing, with Tuo Zhu's innovations in hardware and software significantly improving product usability [20][22]. - Tuo Zhu's MakerWorld platform has become the largest 3D model community globally, with nearly 10 million monthly active users and over one million models available [23]. - The integration of AI in 3D design is lowering barriers for users, allowing for easier model generation and optimization, further accelerating market growth [25]. Group 4: Future Outlook - DJI's entry into the 3D printing market is seen as a potential turning point, signaling a shift from niche hobbyist products to mainstream consumer applications [27]. - The industry is expected to continue its rapid growth, with projections indicating that the consumer-grade 3D printing market could reach $16.9 billion by 2029, reflecting a compound annual growth rate of 33% [25].

在消费级全景相机市场与影石创新短兵相接后，大疆又将目光投向了另一个高速增长的赛道——消费级 3D打印（被称作增材制造技术，是一种依据三维CAD数据通过逐层材料累加的方法，实现实体零件的 制造）。不过，这一次大疆并未选择亲自下场，而是以投资的方式切入这一领域。近日，大疆回应《每 日经济新闻》记者称："本次投资是基于公司对消费级3D打印技术发展潜力、行业增长潜力的看好，符 合大疆对创新科技的一贯理念和前瞻性布局。" 尽管大疆未在回应中明确被投方名称，但据市场普遍说法，其投资对象为国内3D打印企业智能派。更 引人关注的是，这笔看似常规的投资，却因为投资协议中"专门安排了涉及拓竹科技的相关条款"而在业 内掀起波澜。 上周末，拓竹科技创始人陶冶一条朋友圈千字长文在业内广泛传播。他在文中直言，此次投资更像是老 东家对拓竹科技发起的"火力打击"，而非纯粹的"价值投资"。 如今，随着大疆以投资方式与拓竹科技踏入同一战场，一场围绕技术、市场与人才的对决已然拉开序 幕。而业界关注的焦点是，大疆入局消费级3D打印领域，究竟能否撼动拓竹科技已建立的领先地位？ 消费级3D打印增长劲爆 近年来，随着技术成熟与成本下降、产品体验显著提升， ...

Core Insights - The global consumer-grade 3D printing market is dominated by two types of players: Tofu and others, highlighting the industry's preference for innovative disruptors [1] - Tofu Technology, established in 2020, has rapidly become the world's leading consumer-grade 3D printer company, achieving this status within just three years of launching its first product in 2022 [3][4] - The acceleration towards a consumer 3D printing era is supported by government initiatives aimed at expanding digital product consumption and encouraging innovation in various sectors, including 3D printing [4] Company Overview - Tofu Technology has emerged as a significant player in the consumer-grade 3D printing market, following the success of other Shenzhen-based tech companies like DJI and Anker Innovation [3] - The company opened its first flagship store in Shenzhen on September 30, 2023, marking a significant milestone after becoming the top player in the consumer-grade 3D printer sector [5] Industry Trends - The consumer-grade 3D printing market is experiencing a shift towards digital consumption, with applications expanding into personal creation, education, and home entertainment [8] - Advances in artificial intelligence, hardware performance, and digital manufacturing technologies are driving the growth of consumer-grade 3D printing, making it more accessible to the general public [8][9] - The introduction of user-friendly modeling tools and platforms, such as MakerWorld, is lowering the barriers for entry, allowing even novice users to create and print 3D models easily [9] Market Potential - The consumer-grade 3D printing market is at a "singularity moment," with expectations for rapid growth due to improved product experiences, reduced prices, and a thriving model community [9] - Tofu Technology aims to further enhance user experience and accessibility in 3D printing, with plans to achieve the top global sales position by 2024 and recognition in the MIT Technology Review's list of "50 Smartest Companies" in 2025 [8]

Core Insights - The resurgence of 3D printing is characterized by its transition from a concept to practical everyday products, with a notable increase in street vendors selling 3D printed items like dragon eggs and jointed toys [2][3] - The business potential is significant, with some vendors reporting earnings exceeding 10,000 RMB in just half a month [4] - The popularity of 3D printing is amplified by social media platforms, where numerous influencers are promoting a specific 3D printing brand, leading to millions of views [7][8] Market Dynamics - According to market research firm CONTEXT, global shipments of entry-level 3D printers are expected to surpass 1 million units by Q1 2025, marking a 15% year-on-year growth, with Chinese suppliers contributing 95% of this volume [10] - Among the manufacturers, TuoZhu Technology stands out with a remarkable 64% year-on-year increase in shipments, rapidly gaining popularity [11] Company Overview - TuoZhu Technology, founded in Shenzhen in 2020, focuses on using robotic technology to innovate desktop 3D printing [13] - The company's first product, the X1, launched in 2022, achieved nearly 50 million RMB in global orders within a month, setting a record for Kickstarter [16] Software and Community Engagement - The launch of TuoZhu's UGC platform, MakerWorld, in 2023 has been pivotal in driving the 3D printing craze, offering an open-source community for 3D models with integrated printing parameters [18][19] - MakerWorld's unique points system incentivizes users to upload models, allowing them to earn points that can be redeemed for TuoZhu products, enhancing user engagement [23][24][26] Technological Advancements - The integration of AI in 3D modeling has lowered the entry barrier for users, enabling them to create printable models from simple photo uploads [30] - TuoZhu's shipment volume reached approximately 1.2 million units in 2023, capturing 29% of the domestic market share, surpassing its main competitor [31] Retail Strategy - TuoZhu has expanded its reach by opening a physical store in Shenzhen, allowing customers to print models on demand, which serves as a marketing strategy to elevate brand awareness [38][44] - The store's design showcases 3D printed components, reinforcing the brand's identity as a lifestyle choice rather than just a tool [41][44] Historical Context - The 3D printing industry has evolved significantly since its inception, with early developments in the 2000s primarily serving research institutions due to high costs [47][48] - The RepRap project initiated in 2005 marked a turning point, making 3D printing accessible to the public and sparking a wave of commercialization [51][52] Competitive Landscape - The current market is characterized by improved cost-effectiveness and technological advancements, with entry-level 3D printers now available for as low as 1,000 RMB, significantly enhancing their appeal [61][62] - The shift towards personalized and creative uses of 3D printing has attracted a younger demographic, positioning 3D printers as essential tools for creativity [63][66]

Core Viewpoint - The ongoing copyright dispute involving MakerWorld highlights the escalating competition in the domestic 3D printing ecosystem, emphasizing the importance of model design and intellectual property as core competitive strengths for manufacturers [2][3]. Group 1: Company Developments - MakerWorld, a platform under拓竹科技, has initiated legal actions against Creality Cloud, Nexprint, and MakerOnline for copyright infringement, including unauthorized use of exclusive models and violation of licensing terms [2]. - As of October 22, 2023, Maker Online has not responded to the infringement claims, and related content remains online, while legal proceedings against Creality Cloud and Nexprint are ongoing [2]. -拓竹科技 has invested significantly in creator incentives, distributing hundreds of millions annually, with top creators earning over 500,000 yuan per year, contributing to MakerWorld's rapid growth to become the largest 3D model community globally within two years [3]. Group 2: Industry Trends - The 3D printing market is transitioning from industrial applications to consumer-level markets, with new growth opportunities in personal, educational, and entertainment sectors, supported by government policies encouraging innovation in digital consumption [4]. - The desktop 3D printer segment is emerging as a new category in digital consumption, with forecasts indicating a global market size of $7.1 billion by 2028, reflecting a compound annual growth rate of 19.2% [4]. -拓竹科技 has quickly established itself as the leading consumer-grade 3D printer company globally within five years, expanding its presence in markets such as the US, Japan, Germany, the UK, and Singapore [4].

Core Viewpoint - The legal actions taken by MakerWorld against Creality Cloud, Nexprint, and MakerOnline highlight ongoing copyright infringement issues in the 3D printing industry, reflecting an escalating "ecological war" among companies in this sector [1][2]. Group 1: Legal Actions and Infringement Issues - MakerWorld has initiated legal measures against Creality Cloud, Nexprint, and MakerOnline for copyright infringement, including unauthorized use of exclusive models and violation of licensing terms [1][2]. - As of October 20, 2025, MakerOnline has not responded to the allegations, and infringing content remains online, while legal proceedings against Creality Cloud and Nexprint are ongoing [2]. Group 2: Industry Dynamics and Market Growth - The global 3D printing industry is experiencing rapid growth, transitioning from industrial applications to consumer markets, with new opportunities in personal, educational, and entertainment sectors [4]. - The desktop 3D printing segment is emerging as a new category in digital consumption, supported by government policies encouraging innovation and product development [4]. - Analysts predict that the consumer-grade 3D printing market will reach a size of $7.1 billion by 2028, with a compound annual growth rate of 19.2%, driven by maker culture, DIY demand, and personalized product needs [5]. Group 3: Company Overview and Innovations - Within five years, the company has become the leading consumer-grade 3D printer manufacturer globally, establishing a presence in multiple countries including the USA, Japan, and Germany [7]. - The X1 series, launched in 2022, has improved speed and stability in consumer-grade 3D printing, receiving over $7 million in crowdfunding and recognition from TIME magazine [9]. - The company has developed various management tools and community platforms, such as MakerWorld, to lower barriers to entry for users and enhance creative efficiency [9].

Core Insights -拓竹科技 is opening its first flagship store in Shenzhen Bay MixC, marking a significant step in the consumer-grade 3D printing market [1][2] - The company aims to simplify 3D printing for consumers by providing tools and platforms that reduce the learning curve and enhance user experience [2][3] Group 1: Company Overview -拓竹科技 was founded in 2020 in Shenzhen and launched its first product, the X1 series, in 2022, which raised over $7 million on Kickstarter, setting a record [3] - The company has since released multiple models, including P1, A1, and H2D, and is projected to top global sales in the consumer-grade 3D printer market by 2024 [3] Group 2: Product and Services - The flagship store features 28 3D printers and showcases various 3D printed products, including toys and customizable items, enhancing the interactive shopping experience [1] -拓竹科技 offers a range of 3D printing materials, primarily PLA, with prices ranging from 50 to 100 yuan per pound [1] Group 3: Market Position and Community Engagement - The company connects creators and consumers through a community platform, achieving a monthly active user count of 10 million [2] -拓竹科技 has developed several tools, such as Bambu Studio and MakerWorld, to facilitate easier 3D model creation, significantly improving efficiency by over 80 times compared to traditional methods [2]

Core Insights -拓竹科技 has opened its first global flagship store in Shenzhen, marking a significant step after becoming the leader in the global consumer-grade 3D printing market [1] Company Overview - Founded in 2020,拓竹科技 quickly became the world's leading consumer-grade 3D printer company within five years, following the launch of its first product in 2022 [6] - The company has established offices in the US, Japan, Germany, the UK, and Singapore to promote its global expansion [6] - The X1 series, launched in 2022, integrated various technologies to improve speed and stability, receiving over $7 million in support on Kickstarter and being listed as one of Time magazine's "Best Inventions" [6] Industry Trends - The global 3D printing industry is accelerating, transitioning from industrial manufacturing to consumer markets, with applications in personal creation, education, and home entertainment [5] - The consumer-grade 3D printing market is expected to reach $7.1 billion by 2028, with a compound annual growth rate of 19.2% [5] - Key drivers for market growth include the maker culture in Europe and the US, DIY demand, small-batch processing capabilities, and the influence of trendy IP [5] Technological Advancements - Recent developments in 3D printing technology have lowered costs and improved accessibility, allowing ordinary consumers to turn ideas into physical objects at lower costs [5] -拓竹科技 has developed management tools and community platforms to lower modeling and usage barriers, enhancing user experience and creativity [7] Policy Support - The Chinese government has issued guidelines to promote digital consumption, encouraging companies to accelerate innovation in new consumer products, including desktop 3D printers [7]