Investment Rating - The report does not explicitly state the investment rating for Angelalign (6699 HK) Core Insights - The company reported a robust revenue growth of CNY 0.86 billion for H1 2024, representing a year-over-year increase of 39.8%, driven primarily by international operations [4][5] - Domestic revenue reached CNY 0.63 billion, reflecting a 10.1% increase, while international revenue surged to CNY 0.23 billion, marking a staggering 452.5% increase and accounting for 26.5% of total revenue [4][5] - The number of international cases in invisible orthodontics grew significantly, with overseas cases constituting 37.7% of the total case volume in H1 2024 [5] - The company achieved 153,000 cases in invisible orthodontics, a 60.3% increase, with domestic cases at 95,000 (up 10.8%) and international cases at approximately 58,000 (up 512.8%) [5] - The gross profit margin for H1 2024 was 62.4%, an increase of 3.1 percentage points, while the sales expense ratio rose to 39.8% [6] - The adjusted net profit for H1 2024 was CNY 71.65 million, a 95.8% increase, while the net profit was CNY 14.726 million, a decrease of 49.7% [7] Summary by Sections Revenue Performance - The company achieved total revenue of CNY 0.86 billion in H1 2024, with domestic revenue at CNY 0.63 billion and international revenue at CNY 0.23 billion [4][5] Case Volume - The total number of invisible orthodontics cases reached 153,000, with domestic cases at 95,000 and international cases at approximately 58,000 [5] Profitability - The adjusted operating profit for the domestic market was CNY 110 million, with an adjusted operating profit margin of 17.7% [7] - The company incurred a foreign exchange loss of CNY 7.841 million in H1 2024, impacting net profit [7]
时代天使：24H1海外隐形正畸案例数增长亮眼，海外案例占比达到38%