AMPulse Asia · Fortnight 12: Creality completes 1.27 billion HKD IPO on Hong Kong Stock Exchange

Creality’s 1.27 billion HKD debut on the HKEX establishes a public-market benchmark for the high-volume desktop segment, advancing the capital-market maturation that defined this fortnight. BLT’s 43% Q1 growth, where industrial revenue now surpasses aerospace for the first time, confirms that production stacks are shifting toward broader manufacturing applications. These events suggest pure-play hardware OEMs must now justify valuations against a transparent, exchange-listed peer while pivoting their own revenue mix toward serial industrial output.

Creality completes 1.27 billion HKD IPO on Hong Kong Stock Exchange

This is the first listing of a dedicated consumer/prosumer AM company on the HKEX, providing a rare public-market benchmark for the high-volume desktop segment outside the US SPAC cycle.

Creality completed a 1.27 billion HKD IPO on the Hong Kong Stock Exchange on May 29, 2026, representing the first listing of a dedicated consumer additive manufacturing company on the HKEX. This capital market entry follows a 2025 fiscal year in which the company reported RMB 3.13 billion in revenue, establishing a high-volume desktop segment benchmark outside the North American SPAC cycle.

The 177 million USD offering, listed under stock code 03388.HK, saw the retail portion oversubscribed by 3,829 times. This debut arrived after the company filed its prospectus in April 2026, a move that followed the termination of an earlier A-share listing application. The company’s capitalization includes prior backing from Tencent Investment, Shenzhen Capital Group, and GGV Capital.

Internal data indicates that Creality held an 11.2% market share of global consumer 3D printer gross merchandise value in 2025. The company operates 150,000 square meters of manufacturing facilities and has reported total shipments of 5.5 million units since 2014. These scale metrics support a model centered on cost leadership and a digital ecosystem that includes the Creality Cloud platform with over 6 million users.

In the same fortnight, the company continued its hardware releases with the KliTek nozzle changer, which claims an 80% filament waste reduction in multi-color FFF printing. This technical release follows the April 2026 integration of K1C and K2 Plus systems into the engineering curriculum at the Hamburg University of Technology. Separately, the company opened its first retail store in Northeast China in Shenyang as part of a broader expansion of its physical retail footprint.

BLT industrial revenue surpasses aerospace for first time in 43% Q1 growth surge

BLT is a Tier S anchor company; the shift in revenue mix suggests AM is moving from niche aerospace applications into broader industrial production stacks in China.

Bright Laser Technologies (BLT) reported 43.57% year-over-year revenue growth in Q1 2026, a period where the company’s industrial manufacturing revenue surpassed its core aerospace segment for the first time. The financial disclosure, released on May 26, 2026, occurred as the company manages an ongoing China Securities Regulatory Commission (CSRC) investigation into information disclosure violations.

The shift in revenue mix follows BLT’s expansion into high-volume consumer electronics components. In May 2026, the company’s metal additive manufacturing technology was confirmed for the hinge system of the OPPO Find N6 smartphone, an application developed in collaboration with the Tianqiong Partners consortium. This transition to serial production for mobile devices is complemented by BLT's use of BMF micro-SLA technology to produce 18 distinct connector variants for automotive test systems earlier in the quarter.

To support increased industrial demand, BLT broke ground on a 1-billion-yuan metal powder production facility in Fengxi New City on May 21, 2026. While the company reported delays in other capacity expansion projects in its Q1 filing, this upstream investment aims to secure the titanium feedstock required for large-scale production runs. Separately, BLT formalized a strategic cooperation agreement with Siemens on April 29, 2026, focusing on the digitalization of its additive manufacturing factory floors.

For the full year 2025, BLT reported revenue of 18.52 billion yuan, up 39.69% compared to 2024. Despite this growth, the CSRC investigation launched on December 31, 2025, remains unresolved as of the May 26 filing. In the same fortnight, BLT continued to diversify its consumer applications by securing a design patent for a 3D-printed folding bike wheel assembly on May 8, 2026, targeting compact transportation markets.

Notable Developments

• HeyGears — The Chinese VPP specialist raised $44M in Series C funding to expand beyond its dominant digital dentistry position into the consumer resin market. The company plans a full-color resin system launch for Q3 2026.
• Bambu Lab — In a major retail expansion, Bambu Lab entered 64 Sam's Club locations across China to distribute its A1 3D printers. This moves the prosumer MEX segment closer to mass-market availability in a major warehouse channel.
• SUNLU — Global FDM filament leader Sanlv Technology listed on the New Third Board and announced plans for a 50,000-ton expansion. The company is targeting a future ChiNext IPO following 63% revenue growth.
• Hanbang Laser — Hanbang Laser (HBD) partnered with Hebei Hanglun to mass-produce titanium alloy bicycle components. Using HBD P400 systems, the partnership achieved 72-unit batches in 17.5 hours, demonstrating consumer-scale titanium PBF economics.
• Kiprun — The Decathlon-owned brand launched the KIPNEXT 3D running shoe featuring an HP MJF-printed midsole. Priced at $250, the shoe targets 75% energy return and is initially available in limited China retail outlets.
• DAIHEN — The Japanese industrial giant launched a large-format metal DED printer priced at ¥75M, specifically targeting ship propellers and rocket nozzles. The company targets 20 system sales in FY2026.
• Castomize — Singapore-based Castomize has commercialized a 4D-printed orthopedic cast that uses smart thermoplastics for in-clinic molding. The system eliminates the need for scanning and saw-based removal, targeting pediatric and veterinary markets.

By Country

🇰🇷 Korea

• Prototech — Prototech will showcase Stratasys, Formlabs, and HBD metal systems at AM KOREA 2026, focusing on production-stage additive manufacturing applications.
• MetalPrinting — MetalPrinting's paste-based GAUSS MT90 metal 3D printer won a CES 2026 Innovation Award, targeting low-cost metal AM for labs and small production runs.
• Sigemedtech — Sigemedtech CEO Yoo Hyun-seung outlined a strategy to lead the global spinal implant market using metal LPBF, FDA-cleared products, and a new Korean factory.
• Graphy — Graphy and KAIST published a cellulose nanocrystal VPP resin study achieving a 173% tensile strength increase at 0.01 phr loading for medical devices.
• Rokit Healthcare, Inc. — Rokit Healthcare's omentum-based kidney regeneration platform showed 62.5% function preservation in a Harvard preclinical study; a pilot trial is planned for H2 2026.

🇨🇳 China

• Suzhou Beifeng Intelligent Technology — Suzhou Beifeng Smart Technology earned selection as a 2026 National Key Little Giant Enterprise, backed by Series B+ funding and an integrated metal AM model.
• Zhejiang Flashforge — Zhejiang Flashforge entered wax 3D printing with the WJ51C material jetting system, priced at roughly $35,000 for jewelry and investment casting.
• Farsoon Technologies — Farsoon Technologies invested 129 million yuan in R&D in 2025, up 30.52% YoY, as revenue grew 45.43% to 715 million yuan.
• Tripo AI — Tripo AI launched Tripo H3.1 and P1.0 generative models with 8K textures and automated segmentation for streamlined 3D printing workflows.
• Shenzhen ELEGOO Technology Co., Ltd. — Shenzhen ELEGOO filed a Chinese patent for a mechanically guided rotating-nozzle switching system, targeting improved alignment reliability in multi-material FFF printing.
• Shenzhen Snapmaker Technologies Co., Ltd. — Snapmaker integrated community-developed FullSpectrum color mixing into OrcaSlicer, enabling gradient filament blending on the U1 tool-changer printer without hardware changes.
• Jiangsu Vilory Advanced Materials Technology — Jiangsu Vilory deployed AI-driven metal powder production, raising first-pass yield from 50% to 96% for mining conveyor components at Jiangsu SOEs.
• Bambu Lab — Bambu Lab teased the A2L 3D printer with a specified "Extra Large" build volume, set for reveal on June 1.

🇯🇵 Japan

• Apple Tree Co., Ltd. — Apple Tree began Japanese sales of the 3DMakerpro Raven, a 1.1 kg walkable LiDAR scanner with 50 m range for construction and digital twins.
• V3D Asia — V3D Asia and Nakazawa Construction began a field trial of a gantry-type construction 3D printer in Unnan City, using local concrete and mortar.
• Instalimb — Instalimb received a J-KISS investment from Orthomoss Group and partnered with Alcare to co-develop 3D-printed prosthetic sockets and orthotics.
• DigitalArchi — DigitalArchi provided 3D-printed resin formwork to AGB for GRC complex object production, demonstrating reusability and surface-quality control.

Other East Asia

• Peopoly — Peopoly launched the GIGA 800 pellet 3D printer with an 800 mm build volume at $15,000, targeting industrial tooling with up to 90% material cost savings.
• Phrozen — Phrozen previewed the Mighty Revo MAX large-format resin printer with a 14-inch 16K LCD, 2,000 ml vat, dual heating, and an AI camera.

Compiled from 33 sources · fortnight covers 2026-05-22 – 2026-06-05.

AMPulse · Asia Biweekly Digest · ampulse.online