Shining3D Tech Co., Ltd.: Dental 3D Scanner Revenue Reaches 940 Million RMB, IOS Elite Platform Grows 519% Year-on-Year

Source: Shining 3D’s Announcement on the Application for Public Issuance of Shares and Listing on the Beijing Stock Exchange, and the Progress of Trading Suspension

DentalGoodNews｜July 22, 2026 - Shining3D Tech Co., Ltd. (hereinafter referred to as "Shining3D") released the "Announcement on the Application for Public Issuance of Shares and Listing on the Beijing Stock Exchange and the Progress of Trading Suspension" and disclosed the response to the second round of review inquiries on July 21, addressing issues such as performance growth, gross margin changes, distributor verification, and subsidiary operations. The response document shows that Shining3D's dental 3D scanner revenue in 2025 reached RMB 939 million; the Intraoral Scanning / IOS Elite technology platform product launched in the second half of 2024 achieved revenue of RMB 417 million in 2025, a year-on-year increase of 519.33%, becoming a new driver for the revenue growth of dental 3D scanners.

From an overall performance perspective, Shining3D's operating revenue from 2023 to 2025 was RMB 1.018 billion, RMB 1.202 billion, and RMB 1.575 billion, respectively, with dental 3D scanner revenue of RMB 573 million, RMB 687 million, and RMB 939 million. In 2025, the Intraoral Scanning / IOS Elite platform revenue accounted for 44.38% of dental 3D scanner revenue; the Intraoral Scanning / IOS 3 platform still generated revenue of RMB 381 million, but decreased by 22.32% year-on-year.

Source: Response to the Second Round of Review Inquiry Letter Regarding the Application Documents for Shining 3D Technology Co., Ltd.’s Public Issuance of Shares and Listing on the Beijing Stock Exchange

According to the company's response document, the Aoralscan Elite adopts what it calls the "world's first" IPG口内摄影测量技术, with a single-tooth scanning accuracy of 0.0076mm, full-arch implant scanning precision of 0.005mm, and a scanning depth of 22mm. In terms of scanning depth and full-arch implant scanning precision indicators listed in the document, its values outperform the iTero Element 5D and TRIOS 5.

According to Frost & Sullivan data disclosed by the company, based on terminal retail sales of dental 3D vision product equipment, Shining3D's global market share rose from 5.6% in 2022 to 8.0% in 2024, ranking among the top three globally and making it the largest Chinese brand in this segment. Measured by market size and share, its 2024 terminal sales grew approximately 20.0% year-on-year, higher than Align's 15.0% and 3Shape's 5.0%.

In terms of overseas channels, in 2024, Shining3D signed a global cooperation agreement with Henry Schein, Inc. (NASDAQ: HSIC), the world's largest dental product distributor. In 2025, sales to Henry Schein, Inc. reached RMB 68.26 million, a year-on-year increase of 314.59%; sales to Japanese distributor GeoMedi Co., Ltd. reached RMB 51.21 million, a year-on-year increase of 74.66%. Revenue in the EMEA, Americas, and Asia-Pacific regions grew by 47.26%, 38.04%, and 48.59%, respectively; among these, Intraoral Scanning / IOS Elite platform revenue accounted for 48.33% and 52.94% of dental 3D scanner revenue in the EMEA and Americas regions, respectively. Domestic 3D scanner revenue overall grew by 3.15%, but dental 3D scanner revenue decreased by 9.16%, while industrial 3D scanner revenue grew by 28.80%.

Source: Response to the Second Round of Review Inquiry Letter Regarding the Application Documents for Shining 3D Technology Co., Ltd.’s Public Issuance of Shares and Listing on the Beijing Stock Exchange

In terms of profitability, Shining3D disclosed that its dental 3D scanner gross margin rose from 71.85% in 2023 to 77.88% in 2025, slightly higher than the gross margins of Align's imaging systems and Computer-Aided Design/Computer-Aided Manufacturing service segment and 3Shape's overall gross margin during the same period. The company primarily attributes the difference to technology routes, hardware structure optimization, economies of scale, and the increased revenue share of the Intraoral Scanning / IOS Elite. In 2025, the industrial 3D scanner gross margin was 68.57%, down 1.78 percentage points from 2024, mainly due to higher costs for new products. As of May 31, 2026, the post-period collection ratio for Accounts Receivable at the end of 2025 was 87.66%.

Regarding review progress, according to the relevant provisions of the "Beijing Stock Exchange Rules for Review of Public Issuance and Listing of Shares to Unspecified Qualified Investors" and the "Business Handling Guidelines No. 1 - Declaration and Review", Shining3D's financial data update work has been completed, and the aforementioned circumstances leading to the suspension of review have been eliminated. On April 20, 2026, the Beijing Stock Exchange adjusted the company's listing review status to "resume review" in its business system.