---
title: "Huatai Securities Initiates Coverage on CREALITY  with Buy, TP at HKD31.55"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291489474.md"
description: "Huatai Securities initiated coverage on CREALITYwith a Buy rating and a target price of HKD31.55, implying a 2027 P/E of 40x. The broker anticipates rapid growth in consumer-grade 3D printing, expecting CREALITY to evolve into an intelligent manufacturing ecosystem platform. Driven by technology and supply chain advantages, the company is projected to grow adjusted net profits from RMB179 million in 2026 to RMB457 million in 2028, fueled by hardware sales and high-margin consumables and subscription services."
datetime: "2026-07-02T03:20:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291489474.md)
  - [en](https://longbridge.com/en/news/291489474.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291489474.md)
generator: "portal-rs"
---

# Huatai Securities Initiates Coverage on CREALITY  with Buy, TP at HKD31.55

Huatai Securities issued a report initiating coverage on CREALITY (03388.HK) -2.480 (-9.509%) with a Buy rating and a TP of HKD31.55, corresponding to a projected 2027 price-to-earnings ratio of 40x.

The broker believes that as consumer-grade 3D printers achieve technological breakthroughs and products gain broader market acceptance, the market has entered a rapid growth cycle. Against this backdrop, the company is expected to evolve from a high cost-performance hardware provider into a full-chain personal intelligent manufacturing ecosystem platform. Dual drivers from technology and supply chain are expected to strengthen the company's competitive moat, while ecosystem synergies enhance user stickiness. Hardware, consumables and subscription services are expected to drive sustained profit release.

Regarding market concerns over external competitive pressure facing the company, the broker noted that consumer-grade 3D printing hardware has undergone rapid iterations in recent years, and technological barriers for hardware remain limited under the open-source ecosystem. The performance of the company's flagship devices has already caught up rapidly, and the company is expected to continue gaining market share by leveraging its first-mover ecosystem advantages and differentiated positioning. In the medium to long term, the broker remains optimistic about contributions from value-added businesses such as consumables and subscription services. As the ecosystem strengthens and penetration of official consumables increases, high-margin consumables and software subscription businesses are expected to gain momentum and become key drivers for earnings improvement.

The broker forecast the company's adjusted net profit for 2026-2028 at RMB179 million, RMB317 million and RMB457 million respectively, representing YoY growth of 93.6%, 77.5% and 43.8%. Corresponding EPS are forecast at RMB0.38, RMB0.68 and RMB0.98 respectively. (ha/da)(HK stocks quote is delayed for at least 15 mins.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**