The Zhitong Finance App learned that Angel of the Times (06699) rose nearly 7% in early trading. As of press release, it had risen 6.19% to HK$81.45, with a turnover of HK$377.626 million.
According to the news, in 2023 Era Angel achieved revenue of 1,476 billion yuan, an increase of 16.2% over the previous year; the total number of cases achieved invisible correction in 2023 was about 245,000, an increase of 33.2% over the previous year. According to Societe Generale Securities, the company's total revenue in the international market reached 145 million yuan in 2023, 33,000 cases were achieved in the international market, and 23,600 cases were completed in the international market in the second half of 2023, a significant increase over the first half of the year.
CICC, on the other hand, said that considering that the company's overseas business expansion exceeded expectations, the 2024 revenue forecast was raised by 6.8% to 1.75 billion yuan; considering that the current global penetration rate of invisible orthodontics still has high development room and the company's leading position, the company's “outperforming industry” rating was maintained; and considering that the company's overseas expansion exceeded expectations, the target price based on DCF was raised 24.1% to HK$85.