Sales of 1 billion yuan for three consecutive years! Shenzhen Dama starts IPO counseling

Driven by the global high-tech industry, 3D printing technology has also experienced rapid development. In recent years, the demand for consumer-grade 3D printing has continued to grow overseas, and this track has risen rapidly.

According to the latest data from market research firm MarketsandMarkets, the global 3D printing market revenue reached $15 billion in 2023, and is expected to grow to $34.5 billion by 2028, with a compound annual growth rate of 18.1%. In particular, the demand for 3D printers in the three major markets of North America, Europe, and Asia-Pacific has grown the most.

As the industry outlook continues to improve, many companies are rushing for IPOs.

"Chuangxiang 3D" starts IPO counseling

Recently, Chuangxiang 3D, a leading company in the 3D printer field, completed its tutoring registration with the Shenzhen Securities Regulatory Bureau and plans to issue its shares for the first time and go public. The tutoring institution is China International Capital Corporation Limited.

It is understood that Shenzhen Chuangxiang 3D Technology Co., Ltd. was established in April 2014, focusing on the research and development and production of 3D printers, and its products cover "FDM and light curing". The main products include 3D printers, 3D printing consumables, professional software tools, etc.

After years of development, Chuangxiang 3D has become a leading domestic consumer-grade 3D printer company, and its products are exported to more than 100 countries and regions. It has long been at the top of the global 3D printer sales list and is widely welcomed by consumers.

(Picture source: Chuangxiang 3D official website)

At present, the products of Chuangxiang 3D are mainly sold to developed countries such as Europe and the United States, of which the United States accounts for 40% of the total share, Europe accounts for 35%, and the Middle East and Southeast Asian countries account for 20%. Consumer-grade 3D printers contribute 80% of Chuangxiang 3D's revenue.

When the company was first established, Chuangxiang 3D mainly engaged in brand OEM business, which simply means helping other companies to produce and sell 3D printers.

From 2014 to 2016, the company mainly dealt in OEM and ODM order business, supplying cross-border e-commerce companies in the Shenzhen area.

In 2014, the first product developed by Chuangxiang 3D, CR-i3, made it successfully earn its first pot of gold.

In 2016, the CR-10 product developed by Chuangxiang 3D achieved sales of over 20,000 units, becoming a hit product in the market. The number of YouTube videos spontaneously shared by users of the product reached 10 million.

In 2017, Chuangxiang 3D's business experienced rapid development, achieving nearly 10-fold growth.

In 2018, the Ender 3 product released by Chuangxiang 3D was also very popular, with the cumulative sales of the series reaching millions of units.

Although the product became popular overseas, the brand exposure of Chuangxiang 3D did not meet expectations.

In 2018, the largest cross-border e-commerce company cooperating with Chuangxiang 3D asked Chuangxiang 3D to put their brand on its products. At the same time, many foreign companies contacted Chuangxiang 3D through various channels, which made Chuangxiang 3D realize the urgency of brand expansion overseas.

In 2019, Chuangxiang 3D officially began to upgrade its global brand and build its own overseas brand.

At the end of 2022, the Chuangxiang 3D brand flagship store was officially launched on the Amazon platform. At the beginning of 2023, the company set a sales target of 300 million yuan. In just 3 months, nearly 6,000 units were sold, with sales exceeding one million US dollars.

From 2020 to 2023, Chuangxiang 3D's revenue exceeded 1 billion for three consecutive years.

The company's scale has also expanded accordingly. It currently has the world's largest 3D printing production base and production capacity reserves, including advanced large-scale R&D centers, 3D printing laboratories, creative research institutes and modern production lines.

With the advancement of the brand's overseas expansion, Chuangxiang 3D has also become a leading brand in the category.

According to the 2023 "3D Printer Brand Influence Report" released by domestic media , Chinese brands alone occupy 4 seats in the top 5 cross-border e-commerce 3D printer brand influence list, among which Creality ranks first, Bambu Lab ranks third, Anycubic ranks fourth, and ELEGOO ranks fifth.

Among them, the search popularity and Amazon search volume of Creality reached the highest level in the printing industry, with the search popularity reaching 2341 and the Amazon search volume reaching 48,000.

Creality mainly operates its own business on Amazon US, with monthly sales of approximately US$5 million.

It is worth mentioning that in the Meiya BS TOP50 list of the "3D Printers" category, 21 products from Creality are on the list, accounting for nearly half.

In addition, according to Amazon's official data, during Prime Day 2023, sales of Creality products on Amazon's US site increased by more than 1,000% compared to usual days.

In addition to the Amazon platform, Chuangxiang 3D's main sales channels also include independent sites, crowdfunding platforms and agents.

According to the 2023 "3D Printer Brand Influence Report", the natural traffic of Creality's independent site reached 1.527 million.

According to data from SEMRUSH, the traffic of Creality's independent website began to grow rapidly in 2019. Currently, the average monthly traffic of creality.com is relatively stable, exceeding 2 million.

In the past year, direct traffic to creality.com accounted for 41.38%, natural search accounted for 36.84%, referral traffic accounted for 8.31%, and social media traffic accounted for 3.72%.

On May 6, 2020, Creality crowdfunded the CR-6 product for the first time on the Kickstarter platform and successfully raised more than 4 million US dollars.

In November 2020, Creality conducted a second crowdfunding campaign for its product CR-30, raising a total of approximately US$1.4 million.

In 2022, Creality once again crowdfunded a 3D scanner product. However, the product was involved in a dispute. In that year, Artec sued Creality for allegedly plagiarizing its software code. The product can no longer be displayed due to intellectual property rights issues, but it is still sold on the official website.

3D printing continues to be hot

In recent years, the popularity of the 3D printing industry has continued to rise.

Compared with traditional manufacturing processes, 3D printing can achieve the manufacturing of more complex structural parts, while improving manufacturing efficiency and better meeting the diverse and personalized needs of consumers.

And with the integration of AI technology, the speed, accuracy and breadth of 3D printing will be further optimized, and it will be applied to more life scenarios in the future to bring convenience to consumers.

With the growth of demand for consumer-grade 3D printing, China's exports of 3D printers have also ushered in new development opportunities.

According to customs data, China's exports of 3D printers reached 3.16 million units from January to November 2023, an increase of 90.36% compared with the same period in 2022. And this export volume broke the historical record of 2.87 million units in 2021.

Creality has seized this opportunity and become a leading brand in the industry.

The hot 3D printer market has also attracted many leading domestic companies to join the market.

As early as October 2022, Anker Innovations launched its first 3D printer, the M5.

In August 2023, Xiaomi officially launched the Mijia 3D printer.

The popularity of this track has also enabled many companies to usher in rapid development.

It is understood that in addition to Chuangxiang 3D, more than a dozen 3D printing companies in China have also begun planning for listing, and coaching institutions have already entered the market.

Judging from the overall development of the industry, there is great potential in the 3D printing sector.

IPO

Creative 3D