If you add Elements, you will see what Mathematica imports:
In[1]:= Import[test.3ds", "Elements"] Out[1]:= {Graphics3D, GraphicsComplex, PolygonColors, PolygonData, PolygonObjects, VertexData}
This means that many things are discarded in imports. Things like frames, textures, reliefs, camera, etc.
Texture file names are in 3DS format and are not included in Mathematica notebooks.
micke
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