The founding story of 3D printer maker Creality 3D Technology Co. is grounded in China’s love affair with cutting costs to the bone. The company’s four co-founders first met at a 3D trade show where they shared a common observation: the industry was dominated by expensive industrial-grade machines. Only one or two brands were making consumer-level products, most of those imported and relatively pricey at 30,000 ($4,178) to 40,000 yuan each.
Co-founder Liu Huilin later said in media interviews that such prohibitive prices motivated the four to establish their company in 2014 with a mission of making 3D printing technology truly accessible and affordable for consumers. Now, the company is trying to sell its printed-from-the-ground-up story to investors, applying last week for a Hong Kong IPO with its filing of a preliminary prospectus.
A decade after its founding, the company has largely brought its vision of “3D printers for the masses” to reality. Shenzhen-based Creality sells its printers for as little as $199 and has become one of the largest players in the global market for consumer-use 3D printers. Its ability to dramatically lower prices has helped democratize access to 3D printing technology, bringing it within reach of individual consumers, educators, and small businesses worldwide.