Core Viewpoint - Angelalign (6699.HK) experienced a significant stock price increase of nearly 25%, reaching HKD 71.4, marking a new high since March 20, with a trading volume of HKD 750 million. The company announced a positive earnings forecast, expecting a mid-term net profit of approximately USD 13.4 million to USD 14.8 million, representing a year-on-year increase of about 5.38 to 6.05 times [1]. Group 1 - The expected profit increase is primarily attributed to strategic price adjustments in response to intense competition within the core Chinese business [1]. - Revenue from outside China continues to grow, contributing positively to the overall financial performance [1]. - Delays in the establishment of production facilities outside China have resulted in lower investment and operating expenses for the first half of the year [1]. - The low comparative base of net profit from the previous year also supports the anticipated profit growth [1].

Group 1 - Angelalign (06699) opened nearly 19% higher after a positive earnings forecast, driven by strategic price adjustments in its core Chinese business and continued growth in revenue outside China [1] - Songjing Technology (01079) resumed trading with an opening increase of over 40% [1] - Jingtai Holdings (02228) opened more than 9% higher after announcing a significant partnership with DoveTree, valued at approximately HKD 47 billion (USD 5.99 billion) for AI pharmaceutical development [1] Group 2 - Shunmei Co., Ltd. (02145) saw an early morning increase of over 5%, projecting a revenue of RMB 4.09 billion to RMB 4.11 billion for the first half of 2025, a year-on-year growth of 16.8%-17.3% [2] - Nine Dragons Paper (02689) rose over 10% following the successful commissioning of its PM56 production line, which can produce 250,000 tons of high-grade cultural paper annually [2] Group 3 - Giant Star Legend (06683) increased over 1% after announcing a collaboration with Jiushi Wen Chuan for a large-scale IP and cultural tourism project in Shanghai [3] - South Manganese Industry (01091) surged over 15%, expecting to turn a profit of at least HKD 150 million in the first half of 2025, compared to a loss of HKD 162.8 million in the same period of 2024 [3] Group 4 - China Shenhua (01088) rose over 3% after announcing plans to acquire significant assets from its controlling shareholder, which would enhance its coal production capacity by 74.5% [4] - Boya Interactive (00434) fell over 6% due to a profit warning, expecting a decrease of approximately 25%-35% in profit for the first half of 2025 compared to the same period in 2024 [4] Group 5 - Wuling Motors (00305) increased over 9% after announcing a projected net profit of approximately RMB 84 million for the first half of 2025, a significant increase from RMB 21.125 million in the same period of 2024 [5] Group 6 - Hims & Hers Health (HIMS.US) dropped 12.36% after reporting second-quarter sales of USD 545 million, below market expectations [6] - Palantir (PLTR.US) rose 7.85% after reporting second-quarter revenue of over USD 1 billion, a 48% year-on-year increase [6] Group 7 - Futu Holdings (FUTU.US) increased by 2.82% after UBS raised its target price, citing strong expected performance in the second quarter [7] - Daqo New Energy (DQ.US) rose 3.68% as market signals indicated positive changes in the photovoltaic polysilicon sector [7] Group 8 - Li Auto (LI.US) saw a slight increase in stock price after announcing adjustments to its electric vehicle model pricing [8] - Vertex Pharmaceuticals (VRTX.US) fell 20.60% after failing to meet key endpoints in a clinical trial [8] Group 9 - Chinese gaming stocks collectively rose, with Bilibili (BILI.US) up 2.07% following a report indicating a 14.08% year-on-year increase in the domestic gaming market [9] Group 10 - Taiwan Semiconductor Manufacturing Company (TSM.US) fell 2.70% amid reports of a potential technology leak involving its 2nm chip process [9] - Advanced Micro Devices (AMD.US) decreased by 1.40% despite reporting a 32% year-on-year revenue increase for the second quarter [10]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company is expected to achieve a net profit of $13.4 to $14.8 million in H1 2025, representing a year-on-year growth of 538.1% to 604.8% [1] - The growth in net profit is primarily driven by a low base in H1 2024, continued growth in overseas markets, and lower investment and operating expenses [2] - The company has made a strategic investment in the orthodontic brand Shuyaki, acquiring a 35% stake to deepen its presence in emerging markets and enhance the penetration of invisible orthodontics [3] Financial Performance - The company’s revenue is projected to grow from $208 million in 2023 to $318 million in 2025, with year-on-year growth rates of 14.3% in 2023, 29.0% in 2024, and 18.1% in 2025 [5] - The net profit is expected to increase from $8 million in 2023 to $13 million in 2025, with growth rates of -75.4% in 2023, 60.4% in 2024, and 4.4% in 2025 [5] - The earnings per share (EPS) is forecasted to be $0.07 in 2025, with a price-to-earnings (P/E) ratio of 98.3 [5] Market Expansion - The company has established a localized development strategy, with significant growth in international cases, increasing from 33,000 in 2023 to 140,700 in 2024, a year-on-year increase of 326.4% [2] - The company is expanding its production capabilities in Brazil and is set to build a new manufacturing facility in Wisconsin, USA, which will be one of the most advanced centers for invisible orthodontics globally [2] Marketing Strategies - The company is actively enhancing its brand influence through diverse marketing strategies tailored to different city tiers, including collaborations with popular brands like My Little Pony and initiatives like the Angel KiD Star Plan [4]

Core Viewpoint - UBS reports that Times Angel's latest forecast for net profit in the first half is between 13.4 million to 14.8 million USD, representing a year-on-year growth of 538% to 605%, exceeding market expectations [1] Group 1 - UBS believes that both local and overseas revenue growth have surpassed expectations, which will positively influence investor sentiment [1] - UBS significantly raised Times Angel's earnings per share estimate for this year by 105% to 1.18 HKD, reflecting lower-than-expected operating expenses [1] - Assuming overseas business reaches breakeven by 2027, UBS increased the 2027 earnings per share estimate by 7% to 2.02 HKD [1] Group 2 - UBS set a target price of 82 HKD for the stock and reiterated a "Buy" rating [1]

公告指出，股东及潜在投资者亦应注意，过往业绩未必对未来业绩表现有指引性。面对日益复杂的全球 市场，集团仍专注于推动长期增长并可能增加短期经营开支，以扩大地域覆盖范围及客户群。在中国以 外的全球市场，集团旨在扩大其市场份额及建立更强大、更具韧性的全球供应链。这可能需要于未来增 加投资，部分用以应对巴西不断变化的关税状况。在中国市场，监管政策变化的不确定性持续存在，并 可能继续影响隐形矫治器定价。尽管如此，集团致力于通过密切关注业务发展并根据需要适时调整战 略，以应对该等挑战并实现稳健及可持续增长。 本文源自：智通财经网 智通财经获悉，时代天使(06699)盈喜后高开近10%，截至发稿，涨9.89%，报62.8港元，成交额1227.11 万港元。 消息面上，时代天使发布公告，预期集团截至2025年6月30日止6个月期间(2025年上半年)的净利润约为 1340万美元至1480万美元，较截至2024年6月30日止6个月期间(2024年上半年)的约210万美元增加约 538.1%至604.8%。 董事会认为上述经营业绩变动主要由于以下原因：集团核心中国业务受惠于为因应激烈竞争而进行的策 略性价格调整，而中国以外收入则 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 時代天使科技有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06699 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | FF301 第 1 頁 共 10 頁 v 1.1.1 截至月份: 2025年7 ...

Group 1 - The company, Times Angel (06699), experienced a nearly 10% increase in stock price following a positive profit forecast, with shares trading at 62.8 HKD and a transaction volume of 12.27 million HKD [1] - The company anticipates a net profit of approximately 13.4 million to 14.8 million USD for the first half of 2025, representing an increase of about 538.1% to 604.8% compared to the net profit of around 2.1 million USD for the first half of 2024 [1] - The board attributes the significant change in operating performance to strategic price adjustments in its core Chinese business due to intense competition, continued revenue growth outside of China, and lower investment and operating expenses due to delays in establishing production facilities outside of China [1] Group 2 - The announcement highlights that past performance may not be indicative of future results, emphasizing the complexity of the global market [2] - The company remains focused on driving long-term growth and may increase short-term operating expenses to expand its geographic coverage and customer base [2] - In the global market outside of China, the company aims to increase its market share and build a more resilient global supply chain, which may require additional investments to address changing tariff conditions in Brazil [2]

Core Viewpoint - Angelalign (06699) expects a significant increase in net profit for the first half of 2025, projecting between $13.4 million and $14.8 million, representing an increase of approximately 538.1% to 604.8% compared to the same period in 2024 [1] Group 1 - The company's core business in China benefited from strategic price adjustments in response to intense competition, while revenue outside of China continued to grow [1] - The delay in establishing production facilities outside of China resulted in lower investment and operating expenses for the first half of 2025 [1] - The low comparative base of net profit for the first half of 2024 contributed to the expected increase in net profit [1] Group 2 - The company emphasizes the importance of long-term growth while potentially increasing short-term operating expenses to expand its geographic coverage and customer base [2] - In global markets outside of China, the company aims to increase its market share and build a stronger, more resilient global supply chain, which may require additional investments [2] - Uncertainties regarding regulatory policy changes in the Chinese market may continue to impact pricing for invisible aligners, but the company is committed to monitoring business developments and adjusting strategies as needed [2]

Major Events - Shiyao Group's (01093) application for the listing of Semaglutide injection has been accepted by the National Medical Products Administration (NMPA) [1] - Gilead Sciences-B (01672) has completed the enrollment of overweight or obese subjects in the Phase IIa study of the small molecule oral GLP-1R agonist ASC30 in the United States [1] - China Biopharmaceutical (01177) has received NMPA approval for the clinical trial application of TQC3302 "ICS/LAMA/LABA soft mist inhalation preparation" [1] - Jiaogepeng Holdings (01450) plans to acquire 100% equity of Hangzhou Jiaogepeng Education Technology Co., Ltd. for 180 million yuan [1] Financial Data - China Tower (00788) reported a mid-term profit attributable to shareholders of 5.757 billion yuan, an increase of 8.0% year-on-year, with the revenue share from its two wings business exceeding 14% [1] - Techtronic Industries (00669) reported a mid-term profit attributable to shareholders of 628 million USD, an increase of 14.17% year-on-year, with a dividend of 1.25 HKD per share [1] - Yum China (09987) reported a second-quarter operating profit of 304 million USD, a year-on-year increase of 14% [1] - Zibuyu (02420) issued a profit warning, expecting mid-term revenue to increase by approximately 30%-40% to between 1.9 billion and 2.047 billion yuan [1] - Angelalign (06699) issued a profit warning, expecting net profit for the first half of the year to be approximately 13.4 million to 14.8 million USD, a year-on-year increase of approximately 538.1% to 604.8% [1] - Boya Interactive (00434) issued a profit warning, expecting mid-term profit attributable to shareholders to decrease by approximately 25% to 35% [1] - Zhenjiu Lidu (06979) issued a profit warning, expecting mid-term net profit attributable to shareholders to decline by 23% to 24% [1] - Fourth Paradigm (06682) expects a narrowed adjusted net loss for the mid-term, down 68% to 73% year-on-year [1]

Core Viewpoint - The China Securities Index for Hong Kong Stock Connect Medical Devices has shown significant growth, with a 15.78% increase over the past month, 25.81% over the past three months, and 47.76% year-to-date [1]. Group 1: Index Performance - The China Securities Index for Hong Kong Stock Connect Medical Devices Composite Index is currently at 1603.45 points [1]. - The index is based on a sample of all securities classified under the China Securities Industry Classification Standard, reflecting the overall performance of different industry securities within the Hong Kong Stock Connect [1]. Group 2: Index Holdings - The top ten weighted stocks in the index include: MicroPort Medical (19.98%), MicroPort Robotics-B (14.67%), Weigao Group (14.06%), Xianjian Technology (12.6%), Kangji Medical (8.62%), Times Angel (6.58%), Aikang Medical (6.48%), MicroPort Neuroscience (5.62%), Adicon Holdings (3.75%), and Xintai Medical (3.2%) [1]. - The index's holdings are entirely composed of stocks listed on the Hong Kong Stock Exchange, with a 100% allocation [1]. Group 3: Industry Composition - The industry composition of the index shows that medical consumables account for 81.58%, medical devices for 14.67%, and in vitro diagnostics for 3.75% [2]. - The index sample is adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2].