Core Viewpoint - The company, Aidi Te (爱迪特), is experiencing significant growth in its 3D printing business, which is still in the ramp-up phase, and expects to leverage this technology for sales in dental implants and repair products [1] Group 1 - The 3D printing materials and equipment have gained widespread recognition from customers after a year of certification and market testing [1] - The company's additive manufacturing technology for 3D printing is gradually maturing and is seen as a core technology for achieving efficient, high-precision, and low-cost dental diagnosis and treatment [1]

公司有望通过3D打印技术和产品，联动种植、修复产品销售。公司3D打印增材制造技术逐步成熟，是 未来实现高效、高精度、低成本口腔诊疗闭环的核心技术。 人民财讯12月30日电，爱迪特（301580）12月29日在机构调研时表示，3D打印作为公司新业务，今年 增速明显，目前还在爬坡阶段。经过一年的认证与市场检验，公司3D打印材料和设备得到客户广泛的 认可。 ...

Core Viewpoint - Meihao Medical Group Limited is preparing for an upcoming IPO in Hong Kong, with the aim of raising funds for strategic expansion and technological advancements in dental services [1] Group 1: Fundraising Purpose - The funds raised from the IPO will be used for strategic expansion of dental service networks in first and second-tier cities, as well as high-growth third-tier cities, including the establishment of new dental clinics and upgrading existing ones [1] - Investment will be made to enhance digitalization and intelligence levels, including the procurement of advanced medical equipment, development of digital management systems, and introduction of AI-assisted diagnostic technologies [1] - The company plans to strengthen talent training and clinical research by collaborating with medical schools to establish training programs and support dental research [1] - Additional funds will be allocated for working capital and general corporate purposes [1] Group 2: Company Overview - Meihao Medical is a leading dental service provider in China, focusing on comprehensive dental care services, including orthodontics, implants, general dentistry, pediatric dentistry, and oral preventive care [1] - The company operates a chain of medical institutions under the "Meihao" brand, establishing standardized clinical treatment processes, quality control systems, and customer service models [1] - As of the last feasible date, the company has established a network of medical outlets in multiple cities, creating a certain level of regional brand influence [1]

Core Viewpoint - Meihao Medical Group Limited is preparing for an IPO on the Hong Kong Stock Exchange, aiming to raise funds for expanding its dental service network and enhancing operational efficiency [1][2] Group 1: Company Overview - Meihao Medical is a leading private dental service provider in China, focusing on comprehensive dental services including orthodontics, implants, and general dentistry [1] - The company operates a self-owned clinic network and aims to establish a dental service system covering major cities in China, emphasizing high-quality medical services and customer experience as its core competitive advantage [1] Group 2: Fundraising Purpose - The funds raised from the IPO will be used for expanding the self-owned clinic network, including opening new clinics in existing and new cities [2] - The company plans to upgrade medical equipment and facilities in existing clinics [2] - There will be a focus on strengthening marketing and brand development [2] - Investment in information technology systems is planned to enhance operational efficiency [2] - Funds will also be allocated for general working capital and other corporate purposes [2]

Core Viewpoint - The company, Aidi Te (301580), has reported significant growth in its 3D printing business this year, which is still in the ramp-up phase, indicating a promising future for its technology and products in the dental treatment sector [1] Group 1: 3D Printing Business - The 3D printing additive manufacturing technology is gradually maturing and is seen as a core technology for achieving efficient, high-precision, and low-cost dental treatment [1] - The company is focusing on large clients in mature markets like Europe and the United States, where its strategy has become well-established [1] - In emerging markets such as South America, Russian-speaking regions, and the Middle East, the company is emphasizing channel empowerment and working with partners to effectively cover and serve local target customers [1] Group 2: Market Strategy - The company has a systematic coverage strategy for reaching different market levels, ensuring comprehensive market penetration [1]

Core Viewpoint - The company, Aidi Te (爱迪特), is experiencing significant growth in its 3D printing business, which is still in the ramp-up phase, and aims to leverage this technology to enhance sales of its implant and repair products [1] Group 1 - The 3D printing technology and products are expected to create synergies with the sales of implant and repair products [1] - The company's additive manufacturing technology for 3D printing is gradually maturing [1] - This technology is seen as a core component for achieving an efficient, high-precision, and low-cost closed-loop dental treatment system in the future [1]

Core Insights - The company reported a revenue of 2.87 billion in 2024, a year-on-year increase of 0.96%, and a net profit attributable to shareholders of 500 million, a year-on-year increase of 0.2% [1] - In Q1 2025, the company achieved a revenue of 740 million, a year-on-year increase of 5.1%, and a net profit attributable to shareholders of 180 million, a year-on-year increase of 6.2% [1] Revenue Breakdown - The revenue from planting reached 530 million, accounting for 19.4% of total revenue, with a year-on-year increase of 10.6% [1] - Orthodontics generated revenue of 470 million, accounting for 17.3% of total revenue, with a year-on-year decrease of 5.1% [1] - Pediatric services generated revenue of 500 million, accounting for 18.3% of total revenue, with a year-on-year increase of 0.3% [1] - Restoration services generated revenue of 460 million, accounting for 16.9% of total revenue, with a year-on-year increase of 1.5% [1] - Comprehensive services generated revenue of 760 million, accounting for 28.0% of total revenue, with a year-on-year increase of 1.3% [1] Profitability Metrics - The overall gross margin for medical services in 2024 was 39.3%, reflecting a decline of 0.09 percentage points compared to 2023 due to factors such as centralized procurement of dental implants and consumer downgrade [1] Expense Management - The company maintained good control over expense ratios, with a 2024 expense ratio of 15.8%, an increase of 0.2 percentage points year-on-year [2] - In Q1 2025, the expense ratio was 13.5%, with a sales expense ratio of 0.9%, management expense ratio of 9.8%, R&D expense ratio of 1.6%, and financial expense ratio of 1.2% [2] - The company has implemented various digital operations and AI technologies to enhance overall operational efficiency [2] Earnings Forecast - The expected EPS for 2025, 2026, and 2027 are projected to be 1.13, 1.20, and 1.28 respectively [3]