According to the Zhitong Finance App, Times Angel (06699) announced annual results for the year ended December 31, 2023. The group obtained revenue of RMB 1,476 billion (same unit), an increase of 16.24%; profit attributable to company owners was $53.475 million, a year-on-year decrease of 74.99%; profit per share was 0.32 yuan, and it is proposed to pay a special final dividend of HK$1.1 per share.

In 2023, facing the challenges of the macro environment, the company firmly promoted the development strategy of “digitalization and globalization”, and the overall business progressed steadily and occupied a leading position in the market. Among them, the domestic business showed strong growth resilience as the “basic market”, and the international business achieved an important breakthrough as the “second growth curve”. We believe this is mainly due to the company's forward-looking focus on emerging and early-stage correctional fields and setting up an international market. In particular, the Group believes that the global invisible correction market is still in its infancy. Considering the prevalence of false jaw deformities and the low penetration rate of invisible orthodontic treatment around the world, a large number of people can benefit from invisible correction treatment for false jaw deformities. Therefore, despite facing macroeconomic challenges, the Group continues to strategically invest in technological innovation and digital orthodontics to develop advanced orthodontic solutions to address patients' concerns about traditional treatment methods, thereby empowering more practitioners and raising consumer awareness, seizing huge market opportunities, and making Time Angel always have strong competitive barriers in the global invisible orthodontics market.

During the reporting period, the Group's domestic business maintained steady growth, while international business developed rapidly. Overall, the number of cases completed with invisible correction increased by 33.2% to about 245,000. The number of cases completed in the Chinese domestic market increased 15.3% to about 212,000 in 2023, and the number of cases completed in the international market reached about 33,000 in 2023; total revenue increased 16.2% year-on-year from about 1.27 billion yuan to about 1,476 billion yuan, and its total revenue in the domestic market increased from about 1,261 billion yuan in 2022 to about 1,331 billion yuan in 2023, and the total revenue from the international market reached about 145 million yuan in 2023; Gross profit increased 17.2% year over year from about 786 million yuan to about 921 million yuan; gross margin increased from about 61.9% in 2022 to about 62.4% in 2023, of which the gross margin of the invisible correction solutions business increased from about 63.8% in 2022 to about 65.7% in 2023; adjusted net profit decreased 16.0% year on year from about 213 million yuan to about 179 million yuan; and adjusted profit in the domestic market increased 29.9% year on year from about 197 million yuan to about 256 million yuan.