24 August 2025 | 3:05PM HKT Topchoice Medical (600763.SS) Earnings Review: 2Q25 revenue/ earnings slightly miss with soft recovery, awaiting policy tailwind into 2H 600763.SS 12m Price Target: Rmb49.00 Price: Rmb46.74 Upside: 4.8% 2Q25 revenue and earnings miss: Revenue of Rmb704mn, +0.2% y/y, 4% below GSe of Rmb733mn, and net profit of Rmb137mn, +0.5% y/y, 2% below GSeRmb140mn. Net margin came in at 19.5% (vs GSe 19.1%). The miss was primarily driven by the slow down in dental implant segment revenue (-4.4 ...