SHINING 3D is moving forward again with its plans to go public in China, after restarting its Beijing Stock Exchange (BSE) initial public offering (IPO) review process and filing updated financial materials with regulators.

The Hangzhou-based company, best known for its industrial and dental 3D scanners, had temporarily paused its IPO review earlier this year after its financial reports expired during the approval process. But in late April, the BSE officially resumed the review after SHINING 3D submitted refreshed documents, updated accounting materials, and responses to regulator questions.

The company has not gone public yet. However, the new filings show that SHINING 3D is still moving ahead with its IPO plans.

The brand originally disclosed plans to raise about 550 million yuan (roughly $80 million) through a BSE offering. According to filing information reported earlier this month, the company plans to issue up to 23 million shares.

The fundraising would mainly support research and development projects in dental technology, industrial measurement systems, and high-precision 3D vision algorithms. One of the largest investments would go toward digital implant technology for dentistry, an area where SHINING 3D has been expanding aggressively.

Portable, easy operation scanner. Image courtesy of Shining 3D.

The IPO process had briefly slowed in March 2026 when the company requested a suspension of the review because the financial statements used in the application were approaching the end of their validity period. The BSE approved the “procedural suspension” on March 31.

That type of pause is pretty common in Chinese IPO processes. If reviews take too long, companies often need to update financial reports and refile documents before regulators continue the process. But the latest filings suggest SHINING 3D has now completed that step.

The new publicly disclosed filings include updated audit and financial documents, legal materials, and responses to questions from regulators reviewing the IPO.

If there are no further delays, SHINING 3D could move closer to completing its BSE listing later this year. The company still needs additional approvals before its shares can begin trading publicly.

The move is another sign that China’s additive manufacturing (AM) and digital manufacturing ecosystem continues to mature financially, even as many Western AM companies struggle with slow growth, restructuring, or consolidation.

While SHINING 3D is not a pure-play 3D printing company, many of its products are used alongside AM systems. Its scanners and measurement tools are commonly used in inspection, reverse engineering, digital dentistry, industrial design, and 3D printing applications.

The company has become well known internationally thanks to products like its EinScan and FreeScan 3D scanners, which are used to digitally capture and measure objects for design, inspection, reverse engineering, and 3D printing workflows.

The EinScan HX achieves a processing speed of up to 1,200,000 points per second in Rapid Scan Mode. Image courtesy of Shining 3D.

SHINING 3D has also been growing quickly. According to earlier reporting tied to the IPO filing, the company generated roughly 1.5 billion yuan ($221 million) in revenue in 2025, representing about 31% year-over-year growth. International revenue reportedly rose 46% during the same period. The IPO documents also show the company continuing to pour money into research and development, particularly around industrial scanning, digital dentistry, and measurement systems.

That focus points to a larger trend in China’s manufacturing sector, where companies are combining 3D scanning, AI inspection, digital dentistry, robotics, metrology, and 3D printing technologies.

Meanwhile, the BSE itself has also been trying to attract more high-tech manufacturing firms. Created in 2021, the BSE focuses largely on innovative small and medium-sized enterprises inside China. Earlier this year, the exchange introduced changes to attract higher-quality IPO candidates and improve market-driven pricing mechanisms. SHINING 3D seems to fit really well into that strategy.

The company had previously pursued a listing on Shanghai’s STAR Market before later shifting its IPO plans to the BSE.

For the AM industry, the story stands out because public market activity has slowed over the past two years. Many publicly traded AM companies in the U.S. and Europe have dealt with falling stock prices, restructuring, or pressure to sell parts of their businesses. Meanwhile, China’s AM sector continues to see public market activity. Creality is expected to begin trading in Hong Kong on May 29, while companies like Farsoon and BLT are already publicly listed in China. SHINING 3D could become another addition to that growing group if its IPO process continues moving forward.