China Merchants Bank International has released a research report stating that ANGELALIGN (06699) delivered strong first-half performance with revenue growing 33% year-over-year, primarily driven by rapid overseas business expansion. Looking ahead to the second half, the bank expects ANGELALIGN's case volume to maintain strong growth momentum and maintains its "Buy" rating while raising the target price from HK$69.55 to HK$86.47.

In the first half, the group completed a total of 225,800 invisible orthodontic treatment cases, representing a 48% year-over-year increase and accounting for 51.7% of the bank's full-year expectations, surpassing the historical average of 41%.

The attributable net profit margin improved significantly to 9.1%, an increase of 6.5 percentage points year-over-year, benefiting from effective cost control measures, delayed personnel recruitment, and postponed commissioning of overseas production facilities.