BRIEF: Creality launches $177 million Hong Kong IPO
3D printing company Shenzhen Creality 3D Technology Co. Ltd. (3388.HK) launched its Hong Kong IPO on Wednesday, aiming to raise HK$1.38 billion ($177 million) by selling 73.43 million shares for HK$18.80 apiece. The subscription period closes on May 26, with trading set to begin on May 29.
The company reported 3.13 billion yuan in revenue last year, up 36.7% year-over-year. But it swung into the red with a loss of 182 million yuan for the year, reversing a profit of 88.76 million yuan in 2024. The company attributed the loss to its issue of shares to investors and dividend payouts totaling 240 million yuan before the IPO.
Even without those factors, Creality’s adjusted net profit has also been falling over the past two years. It fell 25% to 97.2 million yuan in 2024, as the company blamed increased sales and marketing expenses from promotional costs on third-party e-commerce platforms, social media and search engines, as well as rising fees for collaboration with key opinion leaders. Its adjusted net profit fell another 5% last year to 92.39 million yuan.
By Lau Chi Hang
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