Time Angel (6699.HK), known as the "first orthodontic stock in China", officially landed on the Hong Kong Stock Exchange on June 16 at HK $173 (IPO price). It soared 183% on the first day of listing, setting the highest listing price of HK $490 and having a market capitalization of more than HK $80 billion at one time. Since then, although there has been a volatile trend, but the overall market performance is significantly better than most of the recent listing of new shares. So far, time Angel has recently quoted HK $379.6, up 120% from IPO, with a market capitalization of HK $62.9 billion.
Time Angel is the leading provider of invisible correction solutions in China, with a market share of 41.3%, competing with the international giant Align Technology (Avery Technology / Invisible Midea), which is sweeping the world, forming a duopoly competition pattern.
Benefiting from the rapid growth of the invisible orthodontic industry and the continuous upgrading of the company's products, the company's revenue has grown rapidly in recent years, and the gross profit margin and net profit margin have continued to rise. As a result, after the listing of the angel of the times, it has been favored by a number of institutions.
Tianfeng Securities said a few days ago, considering that the company is the only listed company in Hong Kong stocks in the field of invisible orthodontics, and out of caution, the company will be given a buy rating of 56 times PS in 2021, corresponding to a target price of HK $468 for the first time. Haitong International Securities first set a target price of HK $442.78 for the Angel of the Times, believing that the invisible orthodontic market has a broad prospect and that the penetration rate can be improved.
It is also worth noting that with the arrival of the semi-annual node, the constituent stocks of the Hang Seng Composite Index usher in a new round of review, and the "Hong Kong Stock Connect" stock pool will also be adjusted accordingly. A number of institutions say that the highly watched 6699.HK is expected to be newly included in the Hong Kong Stock Connect, and the formal adjustment is expected to take effect on September 6. Analysts believe that being included in the Hong Kong Stock Connect may make the angels of the times once again usher in the opportunity of rising value.