Futu News, June 3, this Thursday.$Angelalign Technology Inc. (06699.HK) $According to the announcement, the company intends to issue about 16.83 million shares from June 3 to 8, including 1.683 million shares for public offering and 15.1466 million shares for international offering at a price of HK $147,173,200 shares per share, which is expected to be listed on June 16.

The company is a leading provider of invisibility correction solutions in China. According to the cautionary consultancy report, the market for invisible correction solutions in China is highly concentrated, with the market share of the top two market participants totaling 82.4% measured by the cases reached in 2020. According to the same data, the company's market share was about 41.0% in the same year.

During the record period, the number of dentists served by the company increased from about 11500 in 2018 to about 15800 in 2019 and further to 19900 in 2020. The number of cases reached by the company increased from about 77700 in 2018 to about 120100 in 2019 and further to 137600 in 2020.

In terms of financial position, the company's revenue was 488 million yuan in 2018, 646 million yuan in 2019 and 817 million yuan in 2020, with a compound growth rate of 29.26% in 2018-2020. Net profit was 58.2 million yuan, 67.7 million yuan and 151 million yuan respectively, with a compound growth rate of 61.07% in 2018-2020. The adjusted EBITDA (non-IFRS measurement) for the same period was 129 million yuan, 175 million yuan and 297 million yuan respectively.

In terms of industry, China's stealth correction market will become the second largest market in the world in 2019. In terms of retail sales, the market has grown from $200m in 2015 to $1.5 billion in 2020, with a compound annual growth rate of 44.4 per cent and is expected to reach $11.9 billion by 2030 and is expected to grow at a compound annual growth rate of 23.1 per cent from 2020 to 2030.

Around 2010, China's orthodontic market is growing rapidly. In terms of retail sales, its market share in the entire orthodontic market increased from 6.9% in 2015 to 19.0% in 2020, and is expected to reach 40.3% in 2030.

In terms of fund-raising purposes, the company expects to use the net proceeds from the global sale for the following purposes: about 39.9% will be used to fund the construction of the beauty creation base in Wuxi; about 18.3% will be used to enhance the company's R & D capacity and to fund internal and collaborative R & D projects; and about 10.8% will be used to develop flexible and scalable intelligent information technology systems to streamline fully digital operations and deploy data intermediate platforms. About 10.5% is used to expand the company's internal sales team and provide training courses for sales staff to improve sales efficiency and efficiency.