Creality IPO Filing Reveals Strong Revenue Growth But Market Share Losses to Bambu Lab

Creality, one of the most recognizable names in desktop 3D printing, has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange. The filing reveals a company with substantial revenue growth but mounting competitive pressure from Bambu Lab.

Revenue Growth Masks Market Share Losses

The numbers tell a story of mixed fortunes. Creality's revenue grew from RMB 1.346 billion in 2022 to RMB 3.13 billion in 2025 — more than doubling in three years. In 2025 alone, revenue reached 708 million yuan ($98.5 million), a 28.67% year-over-year increase, with profit of 81.564 million yuan ($11.4 million), up 18.1%.

However, the IPO filing lays bare Creality's struggle in the market. The company's market share fell to 16.9%, and on a GMV (gross merchandise value) basis, the picture is even starker: Bambu Lab recorded 730 million yuan ($105.8 million) with a 35.5% share, while Creality managed just 230 million yuan ($33.3 million) at 11.2%.

As recently as 2024, Bambu Lab was three times the size of Creality — and that gap has likely widened since. The competition has shifted dramatically toward speed, ease of use, and multi-color printing capabilities, areas where Bambu Lab's X1 series and AMS system defined the category.

Four Founders, Equal Shares

The filing confirms that the four founders — Chen Chun, Ao Danjun, Liu Huilin, and Tang Jingke — still hold equal shares in the company. Creality has raised 500 million yuan ($69.6 million) in financing back in 2021, and the IPO represents a bid to access public markets as growth capital.

According to market intelligence firm Context, Creality, Bambu Lab, Anycubic, and Elegoo together accounted for over 90% of global entry-level 3D printer shipments as of Q2 2024. But the hierarchy has shifted — Bambu Lab now leads, with Creality fighting for second place.

What the IPO Means for the Industry

Creality's IPO bid is significant for the 3D printing industry. It would be one of the first major consumer 3D printer companies to go public, providing a market benchmark for the sector. The filing pulls back the curtain on financial performance in a market that has seen explosive growth but also intense price competition.

The company is positioning itself as more than just a 3D printer maker — the filing suggests ambitions beyond consumer printing, possibly into industrial or commercial applications. But the core challenge remains: winning back market share from a rival that has defined the modern CoreXY printer category.

Investors will watch closely to see if Creality can reverse its market share trajectory, or if the IPO becomes a liquidity event for early investors at a challenging time for consumer 3D printing hardware.