3D Printing Financials: Creality Warns of H1 Loss Ahead of Earnings Report

Creality (HKG: 3388) is expecting to report a loss for the first half of 2026, just months after the 3D printer maker went public in Hong Kong.

In a profit warning filed with the Hong Kong Stock Exchange, Creality said it expects a loss of between RMB 53 million ($7.9 million) and RMB 63 million ($9.4 million) for the first half of 2026, compared with a profit of RMB 107.49 million ($16 million) a year earlier. Its adjusted loss is expected to be between RMB 10 million ($1.5 million) and RMB 20 million ($3 million).

Of course, these numbers are still preliminary. Creality has not yet released its full financial results for the first half of the year, so there is still little information available on revenue, printer sales, or how individual parts of the business performed. Still, the warning shows some of the challenges Creality is facing.

According to Creality’s Board, there are several reasons behind the expected loss. Creality said promotions and efforts to clear inventory put pressure on its gross margin. Expenses also increased. Creality said it spent more on marketing and promotion, while continuing to increase its investment in research and development. The company also lost money because of currency changes.

Founded in Shenzhen in 2014, Creality has built its business around affordable desktop 3D printers, including its Ender and K-series machines. It also sells 3D scanners, laser engravers, materials and accessories. The business has grown alongside the broader consumer 3D printing market, but competition has also intensified. Chinese manufacturers have pushed printer speeds higher, added more automation and released new machines at highly competitive prices.

In fact, the firm’s own financial documents show some of that pressure. Ahead of its Hong Kong listing, it reported that the gross margin of its 3D printer business fell from 30.9% in 2023 to 29.3% in 2024 and 28.4% in 2025. Creality said part of the decline was “due to the introduction of newer products at more competitive prices.” Promotions and inventory clearance also reduced Creality’s profit margins during its first reporting period as a public company.

At the same time, Creality is spending more to develop and market new products. Higher R&D expenses are not unusual for a 3D printing hardware company, especially in the desktop market. But those investments become more important when margins are also falling.

The expected loss comes only a few months after Creality completed its initial public offering in Hong Kong. Creality began trading on the Hong Kong Stock Exchange on May 29, 2026, under stock ticker 03388.

Creality’s full results should provide more detail. The company said its interim results for the first half of 2026 are expected by the end of August and cautioned that the final numbers may differ from the estimates in its profit warning. The results should also show whether Creality continued to grow sales despite the expected loss, how much its profit margins fell, and which products and markets performed best.