New Stock News | Imaginarium 3D passed the hearing of the Hong Kong Stock Exchange as a global consumer-grade 3D printing products and services provider.

According to the disclosure of the Hong Kong Stock Exchange on May 11, Shenzhen CreatBot Technology Co., Ltd. (referred to as CreatBot) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC as the exclusive sponsor. According to the prospectus, the company is a global consumer-grade 3D printing products and services provider. The company's products and services mainly include: 3D printers, 3D printing consumables, 3D scanners, laser engraving machines, accessories, and others, as well as various services provided through CreatBot Cloud (a platform focusing on 3D printing content). In addition, the company launched Nexbie in August 2025, an overseas e-commerce platform focusing on 3D creative products. The company's full-scenario 3D printing products and services empower each other. In the creative process, users often combine 3D printing with 3D scanning and laser engraving to achieve a more comprehensive solution. By providing one-stop purchasing services and promoting continuous flow conversion between products and services, the company aims to drive repeat purchases of products and enhance customer loyalty to the company's products and services. In addition, customers who purchase the company's products will be guided to CreatBot Cloud and Nexbie platforms, which not only promote user engagement but also help with product discovery. The company's sales model integrates direct sales and distribution. Through direct sales, the company can establish direct contact with individual and corporate users. On the other hand, the company cooperates with distributors who resell products to users. As of December 31, 2025, the company has built a sales network covering approximately 140 countries and regions worldwide. This network consists of 81 online stores, 2,422 domestic and international distributors, and sales teams. The industry shows relatively high market concentration, especially in the areas of 3D printing and laser engraving, with the largest participant holding over 40% market share, while the other top five participants each hold around 10% market share. In addition, the competition between secondary players is becoming increasingly intense, with market share evolving and several emerging participants vying for market share. The characteristics of the industry the company operates in include both dominant companies and continuously emerging new market participants. This type of competition may limit the company's ability to effectively respond to market developments and customer demand, and may lead to pricing pressure, weakening pricing power, and narrowing profit margins. Additionally, rapid technological changes may shorten product lifecycles, requiring increased research and development efforts, leading to cost increases and inventory obsolescence risks. To maintain competitiveness, the company may need to increase expenditure on marketing, brand promotion, and channel development, adopt more flexible commercial terms, and increase capital investment, which may have adverse effects on cash flow and financial performance. Financially, in the fiscal years 2023, 2024, and 2025, the company's revenue was approximately RMB 1.883 billion, RMB 2.288 billion, and RMB 3.127 billion respectively; during the same period, the company's net profit was approximately RMB 129 million, RMB 88.66 million, and -RMB 182 million respectively.