New stock news | *Chuangxiang 3D* ranks first in the global consumer-grade 3D scanner market on the Hong Kong Stock Exchange.

According to the disclosure on March 9 by the Hong Kong Stock Exchange, Shenzhen Creativity 3D Technology Co., Ltd. (referred to as Creativity 3D) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC as the sole sponsor. This is the company's second submission, as it had previously submitted a prospectus to the Hong Kong Stock Exchange on August 14, 2025. According to data from ZHUOSHISHI Consultancy, in 2024, Creativity 3D ranked second in the global consumer-grade 3D printer market and first in the global consumer-grade 3D scanner market by GMV. Additionally, the company also ranked third in the global consumer-grade laser engraver market by GMV in 2024. Company Overview The prospectus shows that Creativity 3D was established in 2014 and is a leading provider of consumer-grade 3D printing products and services. Creativity 3D's products and services mainly include 3D printers, 3D printing consumables, 3D scanners, laser engravers, accessories, and others, as well as various services provided through Creativity Cloud (the company's global online community focused on 3D printing content). In addition, in August 2025, the company launched Nexbie, an overseas e-commerce platform focused on 3D creative finished products. The company's product matrix covers the entire 3D printing process from data input to finished output and transactions, providing end-to-end support for users throughout the entire creation process. According to data from ZHUOSHISHI Consultancy, Creativity 3D is the only company among the major participants in the global 3D creative industry that provides consumer-grade 3D printing, consumer-grade 3D scanning, and consumer-grade laser engraving products and services simultaneously. Furthermore, Creativity 3D's products are diverse and differentiated, covering a full range of products from entry-level to professional-level, further subdivided into basic, advanced, and flagship models to precisely match the diverse needs and different printing requirements of users. As of December 31, 2025, in addition to 3D printers, the company also offered over 400 SKUs of value-added accessories, over 1,400 SKUs of 3D printing consumables, and over 10 SKUs of 3D scanners and laser engravers. Creativity 3D has developed two online platforms, Creativity Cloud and Nexbie. According to data from ZHUOSHISHI Consultancy, as of December 31, 2024: in terms of registered users and senior designers (the company's certified designers), Creativity 3D operates the largest 3D printing online community on Creativity Cloud. Compared to model libraries on industry peer platforms, the 3D model library stored on Creativity Cloud also ranks among the top in terms of quantity. Nexbie is still in the early stages of development, focusing on selling 3D printing finished products and positioning itself as an overseas e-commerce platform that connects 3D creative finished product creators with buyers. According to data from ZHUOSHISHI Consultancy, Creativity 3D is the first company in the industry to fully integrate AI technology into the modeling, printing, and laser engraving stages of the 3D creative process, achieving intelligent manufacturing and precision machining, and creating industry competitive barriers. The company has also integrated AI-empowered machine vision technology into its devices to monitor material flow and achieve automatic real-time calibration during the printing process. Additionally, the company's laser engraving machines are equipped with cameras and AI algorithms for real-time monitoring, adjustment, and control of the engraving process. Financial Data Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 18.83 billion, RMB 22.88 billion, and RMB 31.27 billion respectively. The overall increase in the company's revenue during the historical period was mainly attributed to the continuous launch of high-quality products, increasing user demand, and expansion of sales channels. Gross Profit and Gross Profit Margin In the fiscal years 2023, 2024, and 2025, the company recorded gross profits of approximately RMB 6.00 billion, RMB 7.08 billion, and RMB 9.75 billion respectively, with corresponding gross profit margins of 31.8%, 30.9%, and 31.2%. Annual Profit In the fiscal years 2023, 2024, and 2025, the company recorded annual profits of approximately RMB 1.29 billion, RMB 88.66 million, and -RMB 1.82 billion respectively. Industry Overview With the breakthrough integration of cutting-edge technologies such as AI and intelligent manufacturing, humanity is entering an era of "mass creation" characterized by personalized expression and distributed manufacturing. In this context, the 3D creative industry has entered a new stage of development. The 3D creative industry covers products and services used for the creation of 3D physical and virtual objects, including consumer-grade 3D printing, 3D scanning, and laser engraving. Consumer-grade 3D printing refers to the use of desktop or small 3D printers by individual consumers, hobbyists, educators, and small businesses for daily creative projects, prototype production, and light commercial applications. Compared to industrial 3D printing used in fields such as automotive, aerospace, medical, and construction, consumer-grade 3D printing has significant differences in print size, accuracy, stability, and complexity of supported materials. Driven by the dual engines of artificial intelligence and improved printer performance, the consumer-grade 3D printing industry has experienced rapid development. In 2024, the market size measured by GMV reached $4.1 billion, and is expected to grow to $16.9 billion by 2029, with a compound annual growth rate of 33.0%. Looking ahead, with the increasing popularity of AI modeling and the continuous reduction of operational barriers (such as improving software usability and achieving automated printer settings and calibration), it is expected to improve 3D printing performance and lower the threshold for 3D creation. These trends are driving the growth in consumer demand for 3D printers, accelerating the expansion of the installed base of 3D printers and the user group, becoming the main driving force of market growth. The global consumer-grade 3D printing market is expected to reach $16.9 billion by 2029, with a compound annual growth rate of 33.0% from 2024 to 2029. According to data from ZHUOSHISHI Consultancy, the average selling price of consumer-grade 3D printers increased from approximately $350 per unit in 2020 to $500 in 2024, and is expected to further increase to $650 by 2029. This steady upward trend is due to continuous technological advancements and increasing consumer willingness to invest in high-performance products. In recent years, leading market participants, including the company, have introduced models with more powerful features, higher accuracy, and more user-friendly interfaces, thereby enhancing overall value positioning and accelerating market acceptance of high-end products. Looking ahead, the direction of industry competition will depend on which participants can continue to innovate and achieve differentiated technical breakthroughs, shaping long-term market leadership and further increasing the average selling price. 3D scanning, as a key entry point for the 3D creative industry, allows everyday users to engage in 3D creation, significantly lowering the barrier to digital creation and helping users achieve high-precision modeling of object geometry and texture data without the need for complex modeling skills. It supports the efficient acquisition and reuse of 3D assets in various scenarios such as education, healthcare, metaverse, manufacturing, product design, and game modeling. In 2024, the market size of consumer-grade 3D scanners measured by GMV reached $106.4 million, and is expected to grow to $233.8 million by 2029, with a compound annual growth rate of 17.1%. Consumer-grade laser engraving is showing a high degree of development synergy with 3D printing. 3D printing relies on additive manufacturing technology, while laser engraving uses subtractive manufacturing technology to remove material with high precision. Benefiting from the complementarity of the two technologies, an increasing number of users are simultaneously using both devices to meet different creative needs and unleash greater flexibility in 3D creativity. In 2024, the market size of consumer-grade laser engraving machines measured by GMV reached $800 million, and is expected to grow to $2.4 billion by 2029, with a compound annual growth rate of 23.3%. Board Information After the IPO, the company's board of directors will consist of nine directors, including five executive directors, one non-executive director, and three independent non-executive directors. Shareholding Structure In order to establish unified action relations to maintain the long-term stability, effective decision-making, and control of the company, on January 8, 2024, Mr. Chen, Mr. Ao, Mr. Liu, and Mr. Tang concluded a unanimous action agreement on voting on company matters (the Agreement). According to the Agreement, Mr. Chen, Mr. Ao, Mr. Liu, and Mr. Tang agreed and confirmed that, since they collectively held company interests (since January 2015), they have been acting together and will continue to act together to vote at company shareholder meetings and board meetings. As of the latest feasible date, under the unanimous action arrangement, Mr. Chen, Mr. Ao, Mr. Liu, and Mr. Tang, together with their respective control entities (including Creativity Weas, Creativity Huida, Longeir Investment, Creativity Industry, Creativity Capital, and Creativity Changsheng), collectively own and control 322,500,000 shares, accounting for approximately 81.98% of the total number of issued shares and voting rights of the company. Intermediary Team Sole Sponsor: China International Capital Hong Kong Securities Limited Company Legal Advisors: Paul Hastings (Hong Kong) LLP for Hong Kong and U.S. laws; Zhong Lun Law Firm for Chinese laws; Hogan Lovells International LLP for international sanction laws Sole Sponsor Legal Advisors: Ropes & Gray LLP for Hong Kong and U.S. laws; Tungs Commercial Law Firm for Chinese laws Auditors and Reporting Accountants: PricewaterhouseCoopers Industry Consultants: ZHUOSHISHI Industry Consultancy Transfer Pricing Tax Advisors: PricewaterhouseCoopers Business Advisory Services Limited, Shenzhen Qianhai Compliance Advisors: SOMERLEY CAP Limited