Shenzhen-based 3D printer manufacturer Creality is set to become a publicly listed company. Having submitted a prospectus to the Hong Kong Stock Exchange, the firm intends to be listed on the main board of Hong Kong.
According to reports from China, the OEM initiated its IPO journey in January 2024, when it registered for guidance with the Shenzhen Securities Regulatory Bureau, with Chinese investment bank CICC acting as the guidance institution. This indicates that Creality has chosen to forgo listing on China’s A-share market and instead pursue an IPO in Hong Kong.
In 2021, the company raised RMB 508.5 million (approximately $70.8 million at current exchange rates) in its sole pre-IPO funding round. The round attracted nine investors, including notable VC firms Qianhai FOF, Shenzhen Capital, AVIC Pingshan, and Tencent Venture Capital, part of Chinese tech giant Tencent. Collectively, this backing reportedly raised the firm’s valuation to RMB 4 billion ($556.8 million).
Before the IPO, Chen Chun, Ao Danjun, Liu Huilin, and Tang Jingke, Creality’s four co-founders, held approximately 81.98% of the shares, making them the company’s majority shareholders.
In the official prospectus, Creality claims to be the “world’s largest consumer 3D printing product and services” company with a market share of 27.9%, based on cumulative shipments between 2020 and 2024. The filing also states that Creality ranks as the second-largest player in the global consumer 3D printing market, and first in the global consumer-grade 3D scanner market, based on 2024 shipments alone.
The prospectus, discussed in more detail later in this article, also states that Creality is leading the global laser engraving market, achieved a 30.4% total revenue CAGR between 2022 and 2024, and has the largest social media presence among its competitors, with over 3.5 million followers. According to the document, these claims are based on data from China Insights Consultancy (CIC), Creality’s industry consultant.
CIC estimated that the total market size of global consumer 3D printing in 2024 was $4.1 billion, based on Gross Merchandise Value (GMV). It expects this figure to grow at a CAGR of 33%, reaching $16.9 billion in 2029. Meanwhile, the global ownership of consumer 3D printers is also said to be steadily increasing from 15.8 million units in 2024 to 40.4 million units in 2029, at a CAGR of 20.7%.
Ultimately, Creality says that its vision is to “spread the joy of 3D printing technology to every household.”
Creality’s financial results
Creality’s IPO prospectus, re-published in a recent WeChat article, revealed the company’s financial results for the period 2022 to 2024.
The filings show that Creality generated revenues of RMB 1.3 billion ($187.4 million) in 2022, RMB 1.9 billion ($262.1 million) in 2023, and RMB 2.3 billion ($318.5 million) in 2024. This represents 21.5% YoY revenue growth in 2024, and a compound annual growth rate of 30.4%. Q1 2025 revenue was RMB 708 million ($98.6 million), a 28.7% increase YoY from RMB 550.2 million ($76.6 million) in Q1 2024.
Meanwhile, Creality reported annual profits of RMB 104 million ($14.5 million) in 2022, RMB 129 million ($18.0 million) in 2023, and RMB 88.66 million ($12.3 million) in 2024. Profit for Q1 2025 was reportedly RMB 81.6 million ($11.4 million), up 18.1% YoY.
Creality’s gross profits were RMB 387.8 million ($54.0 million) in 2022, RMB 599.5 million ($83.5 million) in 2023, and RMB 707.8 million ($98.5 million) in 2024, an impressive 45.2% increase over three years. The gross profit margin in those years was 28.8%, 31.8%, and 30.9%, respectively. For the first quarter of 2025, gross profit reached RMB 249.5 million ($34.7 million), with a margin of 35.2%.
This steady growth stems from rising direct sales. According to Creality’s prospectus, most online revenue comes from direct sales, while dealer sales dominate offline revenue. Online sales contributed 13.5% of total revenue in 2022, increasing to 40.9% in 2024 and 47.9% in Q1 2025.
| Revenue in Thousands (RMB/USD) | 2022 | 2023 | 2024 | Q1 2024 | Q1 2025 |
| Total RMB | 1,346,419 | 1,882,862 | 2,288,328 | 550,242 | 707,984 |
| Total USD | 187,430 | 262,106 | 318,549 | 76,597 | 98,556 |
Creality’s total revenue (in thousands) per IPO prospectus. USD figures converted using the exchange rate as of 20 August 2025.
Investors fuel Creality’s expansion
In 2021, Creality restructured as a joint-stock limited company. Shortly afterward, it raised RMB 508.5 million in a Series A round backed by nine investors.
Among them, Qianhai FOF, including Qianhai Equity, Zhongyuan Qianhai, and Smart Internet Telecom Ark, invested RMB 200 million. Shenzhen Capital Group, including Shenzhen Capital Group and Nanshan Red Soil, invested RMB 149 million, while Tencent Venture Capital invested RMB 74.5 million.
Before Creality’s IPO, Qianhai FOF, Shenzhen Capital Group, and Tencent were the company’s top three institutional shareholders, holding 5.81%, 4.32%, and 2.16% of the shares, respectively.
Creality’s evolving product line
With this financial backing, the desktop FDM 3D printer maker expanded its online presence. It opened an Amazon brand flagship store in 2021 and launched an overseas direct-to-consumer e-commerce site the following year.
Creality operates manufacturing facilities in Wuhan, Huizhou, and Shenzhen, and maintains a broad sales network, with 74 self-operated online stores and 2,163 dealers across 140 countries and regions.
The company’s IPO prospectus highlights an evolving product mix. Sales of 3D printers remain the largest revenue source, generating RMB 1.4 billion in FY 2024, but their dominance is waning. Between 2022 and 2024, their proportion of total revenue was 81.7%, 74.6%, and 61.9%, respectively. In Q1’25, this declined further to 61.3%.
Meanwhile, sales of 3D printing supplies, scanners, and laser engraving hardware have risen. Revenue from scanners grew from 4% in 2022 to 9.1% in 2024, while laser engravers climbed from 0.9% to 7.1% over the same period. Sales of 3D printing supplies, including the company’s filament, nearly quadrupled, rising from 3% in 2022 to 11.4% in 2024.
In the prospectus, CIC names Creality as the only company among the “major players in the global 3D creative industry to provide products and services across consumer 3D printing, consumer 3D scanning and consumer laser engraving.”
Amid this growing diversification, Creality remains a leading brand in the entry-level 3D printing market, despite stiff competition from fellow Shenzhen-based OEM Bambu Lab.
According to CONTEXT’s Q1 2025 report, Creality remains the top vendor for 3D printers priced below $2,500, with a 39% market share. However, the rise of fellow Shenzhen-based OEM Bambu Lab continues to threaten this dominance. In Q1, Bambu reported a 64% YoY increase in 3D printer shipments, while Creality saw its sales fall by 3%.
The official IPO prospectus, however, claims that Creality’s total market share in the global consumer 3D printer industry is 27.9%, based on cumulative shipments between 2020 and 2024. CIC data indicates that the company shipped a total of 4.4 million units between 2020 to 2024.
Based on 2024 data alone, Creality’s market share falls to 16.9%, placing it second in the global rankings. The top spot goes to a company that is not explicitly named in the prospectus.
Dubbed “Company B,” the firm is identified as a consumer technology developer founded in China in 2020. It specializes in “3D printers, consumables, accessories, and software,” pointing clearly to Bambu Lab. Although Bambu is reported to have shipped only 2.1 million machines between 2020 and 2024, 1.2 million of those were delivered in 2024 alone, securing the company a 29% share of the global market, according to CIC.
When comparing 3D printer performance, the prospectus positions Creality’s technology ahead of its competitors. According to CIC, Creality offers the strongest combination of 3D printer features: a maximum printing speed of 600 mm/s, a build volume of 350 x 350 x 350 mm, support for 16 colors, and advanced AI-driven fault detection. In the document, Bambu matches the latter two specifications, but its maximum speed and build volume are presented as falling short of Creality’s.
3D printing industry sees fresh wave of public offerings
The 3D printing industry has seen a wave of new public offerings as companies seek fresh capital. Earlier this month, Californian metal 3D printer maker Velo3D listed on the Nasdaq, offering 5,833,333 shares at $3.00 each to raise $17.5 million. The company intends to use the proceeds for working capital, capital expenditures, and general corporate expenses.
Velo3D’s decision to join the Nasdaq under the ticker “VELO” will see it move up from the smaller over-the-counter (OTCQX) market, where it previously used the ticker “VLDX.” The company had previously traded on the New York Stock Exchange (NYSE) before being delisted in September 2024 for failing to meet continued listing standards.
Elsewhere, California-based medtech company Carlsmed Inc. recently completed an IPO, which raised approximately $100.5 million in gross proceeds. The company plans to use the proceeds to support manufacturing scale-up, commercial expansion, and grow aprevo, its platform for 3D printed personalized spine surgery applications.
The company began trading on the Nasdaq on July 23, with Carlsmed pricing 6.7 million shares of common stock at $15.00 each under the ticker “CARL.” Underwriters received a 30-day option to buy up to an additional 1,005,000 shares at the same price.
Registrations are now open for Additive Manufacturing Advantage: Energy on September 17th. Reserve your free ticket now!
Want to help select the winners of the 2025 3D Printing Industry Awards? Register to join the Expert Committee today.
Subscribe to the 3D Printing Industry newsletter to keep up with the latest 3D printing news.
You can also follow us on LinkedIn, and subscribe to the 3D Printing Industry Youtube channel to access more exclusive content.
