Core Viewpoint - The report from CMB International indicates that Angelalign (06699) has shown strong performance in the first half of the year, with a revenue growth of 33% year-on-year, primarily driven by rapid expansion in overseas markets [1] Group 1: Financial Performance - The total number of invisible orthodontic cases achieved by the group in the first half reached 225,800, representing a year-on-year increase of 48%, surpassing the annual expectation of 51.7% [1] - The net profit margin attributable to the company significantly improved to 9.1%, an increase of 6.5 percentage points year-on-year, benefiting from effective cost control measures, delayed hiring, and postponed commissioning of overseas production facilities [1] Group 2: Future Outlook - Looking ahead to the second half of the year, the bank expects Angelalign's case numbers to continue strong growth, maintaining a "Buy" rating with a target price raised from HKD 69.55 to HKD 86.47 [1]
招银国际：升时代天使目标价至86.47港元 海外业务快速扩张推动收入增长 维持“买入”评级