HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Arrail Group (6639.HK) - The Development Strategy Cannot Generate High Returns

Pre-IPO Dental Doctor Medical Holding Group - An Uncertain Outlook and Concerns About Profitability

China Healthcare Weekly (July.1)- TCM New Policy, Private Hospitals Survival Pressure, Sino Biopharm

Angelalign Technology (6699.HK) - Some Points Worth the Attention

Angelalign Technology (6699.HK) - Uncertain Growth Outlook

Modern Dental Group (3600.HK) - More Suitable for Short Term Trading than Long Term Holding

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

Angelalign Technology  / Equity Bottom-Up

<ul>
<li>Due to pandemic/lockdown/economic downturn, the case shipments could further decline. Our revenue forecast this year is below 20%, or even below 15%. We also lowered our forecast on profit margins.</li>
<li>Limited qualified orthodontists in China and challenging internationalization cast doubts on Angelalign’s long term growth prospects. We can’t see high growth potential of Angelalign with certainty.</li>
<li>Angelalign’s performance in 2022 would be under pressure. Although PE/TTM reached about 73 by the end of June 10 after corrections, it's still overvalued. The upside potential could be limited.</li>
</ul>


Due to pandemic/lockdown/economic downturn, the case shipments could further decline. Our revenue forecast this year is below 20%, or even below 15%. We also lowered our forecast on profit margins.
Limited qualified orthodontists in China and challenging internationalization cast doubts on Angelalign’s long term growth prospects. We can’t see high growth potential of Angelalign with certainty.
Angelalign’s performance in 2022 would be under pressure. Although PE/TTM reached about 73 by the end of June 10 after corrections, it's still overvalued. The upside potential could be limited.


Angelalign Technology (6699.HK) - There Is Still Plenty of Downside, but Limited Upside Potential