文章来 源：南极熊3D打印 近日， 消费级3D打印厂商 深圳快造科技有限公司 (以下简称：Snapmaker快造科技) 完成C+轮融资，融资 金额未透露，投资方为南山战新投、顺为资本、同创伟业，本轮融资将用于加强产品研发、拓展全球市场 及完善服务体系。Snapmaker快造科技是一家集研发、生产和销售桌面级多功能3D打印机的科技公司，致 力于降低快速原型工艺的使用门槛，为用户带 来极致的使用体验。 在短短一年时间之内，Snapmaker已经完成了四次融资，虽然都属于B轮，但也足见资本的追捧热度 之高。之所以Snapmaker如此受到资本的厚爱，与今年他们发布的一款新产品U1有很大的关系，这款 四打印头的多色智能桌面3D打印机目前处于一机难求的状态。 快造科技（Snapmaker）在众筹平台Kickstarter上创下新纪录。其新款U1 3D打印机的众筹项目已从 全球20,643名支持者处募集到20,577,877美元（约合1.47亿人民币），成为该平台历史上募资金额 最高的3D打印机项目。 Snapmaker U1最主要的就是解决了多色打印过程中的材料浪费问题，以前单打印头的多色3D打印 机，在切换不同颜色耗 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The research highlights the significant generational differences in consumer behavior and production capabilities across Thailand, Vietnam, and Cambodia, with Thailand resembling a "miniature" version of the Western consumer market, Vietnam in a rapid growth phase, and Cambodia reflecting characteristics of less developed nations [1] - The report emphasizes the potential for investment in Southeast Asia, particularly in consumer goods and technology-driven sectors, as companies leverage local production capabilities and growing consumer markets [1][2] Summary by Sections 1. Industry Insights - Thailand is compared to a "miniature" Western market, showcasing a mature consumer culture and a well-developed service industry, making it a reference point for companies looking to expand into Western markets [1] - Vietnam is characterized as a rapidly developing economy, with a GDP projected to reach approximately 62.69 trillion VND (around 4,700 USD) in 2024, indicating a significant consumer market potential [1] - Cambodia is noted for its low average income and high income disparity, with consumer spending primarily focused on essential goods, suggesting a slower penetration of discretionary spending [1] 2. Segment Tracking - Xiaomi Group is exploring the future of smart home technology with its Xiaomi Miloco initiative, aiming to enhance user interaction and privacy through advanced AI models [9][10] - The pet food sector saw significant growth during the Double Eleven shopping festival, with sales for the brand Guibao exceeding 1 billion RMB, reflecting a trend towards premium pet products [11][12] - The AI and 3D printing industry is experiencing high demand, with companies like Tuozhu achieving record sales during major shopping events, indicating strong market potential [21][22] 3. Macro Consumption Data - In October, the Consumer Price Index (CPI) showed a year-on-year increase of 0.2%, with service sector prices rising, indicating a recovery in consumer spending [35] - The Producer Price Index (PPI) decreased by 2.1% year-on-year, but showed signs of improvement in the month-on-month trend, suggesting a potential stabilization in production costs [45] - Online sales data from major platforms indicated a decline in the home appliance sector, with specific brands like Ecovacs and Roborock showing positive growth despite overall market challenges [50]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The two-wheeler industry is experiencing a favorable peak season, with manageable inventory levels and a positive impact from new national standards, although a critical test is expected in Q1 2026 [14] - Xiaomi's 17 series smartphones achieved over 1 million units sold within five days of launch, with the Pro Max model accounting for over 50% of sales, but rising memory prices could pressure profit margins [15][16] - The pet industry is seeing mixed performance, with a successful pet products exhibition highlighting growth opportunities, particularly in premium and health-focused products [17][19] - The silver economy is supported by new government subsidies for elderly care services, with significant funding allocated to assist those with moderate to severe disabilities [20] - AI-driven innovations in 3D printing and mattress technology are emerging, with new products enhancing user experience and market penetration [21] - The insulated cup market shows stable demand, with Stanley leading in sales across various regions [26] Segment Summaries 1. Two-Wheeler Industry - The two-wheeler sector is benefiting from a strong peak season, with positive inventory levels and manageable fluctuations due to new regulations [14] - New models from major brands like Yadi and Aima are being introduced, aligning with updated national standards [11][12] 2. Xiaomi Group - The Xiaomi 17 series smartphones launched successfully, breaking sales records shortly after release, but rising LPDDR4X memory prices pose a risk to profit margins [15][16] 3. Pet Food Industry - The recent pet products exhibition showcased over 4,000 brands, indicating a robust market with opportunities in premium and health-oriented products [17][19] - Pet food sales in September reached 2.3 billion yuan, with a year-on-year growth of 3% [51] 4. Silver Economy - A nationwide subsidy program for elderly care services has been initiated, with 1.16 billion yuan allocated to support the elderly with disabilities [20] 5. AI and 3D Printing - New 3D printers from companies like拓竹科技 are enhancing user experience and market penetration, indicating growth in the consumer-grade 3D printing market [21] 6. Insulated Cup Market - Stanley continues to lead in sales across various Amazon platforms, with a notable increase in the UK market [26]