Creality Posts H1 Loss, Plans $80M Shenzhen AM Campus

Revenue Up, Profit Down

Creality sold more printers, scanners, and materials in the first half of 2026, but the Hong Kong-listed company still posted a loss. Revenue reached RMB 1.63 billion ($242 million), up 12.9% from RMB 1.44 billion ($214 million) a year earlier. Net loss came to RMB 59.1 million ($8.8 million), compared with a profit of RMB 107.5 million ($16 million) in the first half of 2025.

Gross profit barely moved, rising just 0.9% to RMB 500.4 million ($74 million). That pushed Creality's gross margin down to 30.8% from 34.4% a year earlier. Even excluding share-based compensation and listing costs, the company recorded an adjusted net loss of RMB 15.7 million ($2.3 million), versus adjusted net income of RMB 111.1 million ($16.5 million) a year ago.

Printers Barely Moved, Materials and Scanners Grew

Printer revenue reached RMB 842.4 million ($125.3 million), compared with RMB 841.2 million ($125.1 million) in the same period last year. That is effectively flat. The growth came from elsewhere. Materials revenue jumped 48.3% to RMB 276.6 million ($41.1 million). Scanner and laser engraver revenue increased 16.7% to RMB 325.9 million ($48.5 million).

Sales in the Americas rose to RMB 662.4 million ($98.5 million) from RMB 529.6 million ($78.8 million). Europe increased to RMB 404.1 million ($60.1 million) from RMB 372.7 million ($55.4 million).

Costs Climb Faster Than Revenue

Creality said lower product margins, promotions, and clearance of older lines ate into profitability. The cost of sales increased 19.1%, faster than revenue, driven by higher prices for circuit board assemblies, memory, and chips.

Selling and marketing expenses increased 29.3%, with more spent on e-commerce platforms, social media, and commissions tied to Amazon and TikTok. R&D expenses increased 37.6% to RMB 143.4 million ($21.3 million) as the team expanded. General and administrative expenses were up 51.2% to RMB 108.6 million ($16.2 million), partly because of listing-related costs.

$80M Shenzhen Headquarters Planned

Beyond its existing expansion plans, Creality wants to invest up to RMB 550 million ($81.8 million) in a new additive manufacturing headquarters and innovation center in Shenzhen. The investment would include land that Creality still needs to acquire through a public tender. No formal agreement is signed, and the project depends on government approvals.

Creality reported RMB 1.45 billion ($215.7 million) in cash and cash equivalents at the end of June. The IPO on May 29 raised about HK$1.27 billion ($163 million) in net proceeds.

What Comes Next

Creality expects new products to drive a significant increase in printer sales in the second half. That includes the K3 multi-color system, an upgraded i8, and a new line of printers for children. The company is also pushing toward 2,000 overseas display locations and roughly 30 stores in China by year-end.