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].

Performance Summary - Techtronic Industries (00669.HK) reported a revenue of $7.8 billion for the first half of the year, an increase of 7.5% year-on-year, with a net profit of $628 million, up 14.2% [1] - Yum China (09987.HK) achieved revenue of $2.8 billion in Q2 2025, a 4% increase year-on-year, with an operating profit of $304 million, up 14% [1] - Shiseido (02145.HK) expects mid-term revenue of approximately ¥4.09-4.11 billion, a year-on-year increase of about 16.8%-17.3%, and a net profit of approximately ¥540-560 million, up about 30.9%-35.8% [1] - Prosperity Industrial Trust (00778.HK) reported revenue of approximately HK$854 million for the first half, a decrease of about 2% year-on-year, while distributable income to unitholders increased by 2.06% to HK$377 million [1] - Zibuyu (02420.HK) anticipates mid-term revenue of approximately RMB 1.9-2.047 billion, a year-on-year increase of about 30%-40%, with a net profit of approximately RMB 100-110 million, up about 10%-20% [1] - Angelalign Technology (06699.HK) expects mid-term net profit of approximately $13.4-14.8 million, a year-on-year increase of approximately 538.1%-604.8% [1] Company News - Sunac China (01918.HK) reported a cumulative contract sales amount of ¥25.08 billion for the first seven months of 2025, a decrease of 9.43% year-on-year, with July contract sales of approximately ¥1.53 billion, an increase of 8.51% [3] - Xingye Holdings (00132.HK) entered into a financing lease agreement with Heilongjiang Mudanjiang Agricultural Reclamation Xinneng Thermal Power, involving an investment of ¥100 million [3] - China Biopharmaceutical (01177.HK) received NMPA approval for the clinical trial application of TQC3302, an ICS/LAMA/LABA soft mist inhalation formulation for the maintenance treatment of chronic obstructive pulmonary disease [3] Buyback Activities - HSBC Holdings (00005.HK) repurchased approximately 1.05 million shares at a cost of about HK$105 million, with buyback prices ranging from HK$95.35 to HK$96.3 [3] - Hang Seng Bank (00011.HK) repurchased 200,000 shares at a cost of approximately HK$22.717 million, with buyback prices between HK$113.1 and HK$114.2 [4]

【财华社讯】时代天使(06699.HK)公布，预期截至2025年6月30日止六个月期间的净利润约为1340万美 元至1480万美元，同比增加约538.1%至604.8%。主要由于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，而中国以外收入则持续增长；中国以外生产工厂设立进度的延迟，导致2025年 上半年投资及经营开支较低；及2024年上半年净利润比较基数较低。 本文源自：财华网 ...