Zhitong Financial APP learned that on May 16, the Hong Kong Stock Exchange disclosed that time Angel Technology Co., Ltd. was listed through the Hong Kong Stock Exchange, with Goldman Sachs and China International Capital Corporation as co-sponsors.
The company is a provider of invisible correction solutions in China. According to the cautionary consultancy report, the market for invisible correction solutions in China is highly concentrated, with the company's market share of about 41.0% measured by the cases reached in 2020.
The company assists dentists in the whole process of invisible correction through the time Angel invisibility treatment system, which mainly includes three parts: 1) Digital auxiliary case evaluation support and orthodontic program design services, mainly for all dentists (including orthodontists and general dentists) to provide digital auxiliary case evaluation support and orthodontic plan design services. 2) invisible appliance. After the orthodontic program is approved by the dentist, the company will manufacture tailor-made invisibility appliances according to the specific orthodontic plan. 3) Cloud service platform. The company's cloud service platform iOrtho enables dentists to perform multiple tasks throughout the treatment process, including (1) placing an order with the company; (2) reviewing, modifying and finalizing the patient's treatment plan online with the help of the company's medical designer; and (3) reviewing, editing and managing the patient's medical records.
Financially, the total revenue of the company increased from 489 million yuan in 2018 to 817 million yuan in 2020, and the net profit increased from 58.2 million yuan in 2018 to 151 million yuan in 2020.