3D printing firm files for IPO in HK

Shenzhen Creality 3D Technology Co, a global leader in consumer-grade 3D printing, has officially submitted its listing application to the Hong Kong bourse, capturing widespread market attention.

Creality said in its application that it plans to use the IPO proceeds to enhance technological capabilities, expand international operations, strengthen global branding and sales channels. and pursue strategic partnerships or acquisitions aligned with its long-term strategy. The company has in its IPO prospectus acknowledged the highly competitive nature of the industry, and stressed the need for continuous innovation to meet evolving market demands.

The company was founded in 2014 by four entrepreneurs with an initial investment of 300,000 yuan ($42,056) in a 20-square-meter office in Longhua, Shenzhen. Its vision is to make 3D printing affordable to every household.

According to China Insights Consultancy, Creality is the world's largest provider of consumer-grade 3D printing products and services, with cumulative shipments exceeding 6.1 million units between 2020 and 2024, representing a market share of 28 percent.

Creality operated 74 self-owned online stores and had 2,163 distributors as of March 31, with its sales network covering nearly 140 countries and regions worldwide.

Competitive pricing in the early stages has been the key to Creality's development and global expansion over the past decade.

When the company launched its self-developed CR-10 model in 2016 at a price of $500 — less than half the cost of comparable overseas products — it quickly gained traction. Monthly sales soon surpassed 20,000 units, while video reviews from customers generated millions of views on YouTube.

Cofounder Ao Danjun attributed the breakthrough to Shenzhen's advanced supply chain and the company's structural design efforts that cut unnecessary costs. "China's 3D printing ecosystem was already highly developed at the time, particularly in a tech hub like Shenzhen," he said.

The rise of Shenzhen's cross-border e-commerce industry also played a crucial role in Creality's overseas achievements. The company initially partnered with cross-border enterprises as agents, subsequently opened a flagship store on Amazon, built an independent website, and actively engaged global users through overseas social media platforms.

Creality reported earnings of nearly 2.29 billion yuan for 2024, with a net profit of 89 million yuan. Its revenue primarily comes from the sale and provision of 3D printers, 3D printing materials, 3D scanners, laser engraving machines as well as accessories and other products.

chenhong@chinadaily.com.cn