Zhitong Finance and Economics learned that on February 4, Angelalign (06699) announced the expansion of the share repurchase plan, increasing the funds reserved for share repurchase from HK $100 million to HK $200 million. Angelalign stated in the announcement that the company's business operations are normal, and there are no major changes in business operations and financial status; The company is advancing its business in more than 30 countries around the world, among which the European market has become one of the fastest growing overseas markets for the company; In addition, the company is upgrading its acquired plant in Aditek, Brazil, as an overseas production base.
Since the beginning of this year, Angelalign has taken "digitalization and globalization" as its core strategy, firmly promoted its business, and continued to launch innovative digital orthodontic solutions, such as Angellink interface system, a new generation of kid front traction solutions, etc., and integrated cutting-edge technologies such as artificial intelligence and big data into the whole process of diagnosis and treatment of orthodontics, providing digital and intelligent diagnosis and treatment workflows, and helping dentists improve the efficiency of the whole process.
In terms of globalization, Angelalign has promoted through local operations, mergers and acquisitions, and cooperation with local partners, and continued to expand its influence through international cooperation, further combining its achievements in the Chinese market with international opportunities.
Since 2023, Angelalign has set up a professional international business marketing team, recruited talents from the world's top 500 companies with rich experience in the orthodontic industry, launched targeted product technology solutions according to local needs in regional markets such as Europe, North America, Brazil and Australia, and successively appeared at a number of top global orthodontic conferences, sharing with orthodontic practitioners the digital orthodontic products, technologies and solutions developed by Angelalign for more than 20 years. And carry out cutting-edge technology exchanges with experts on industry problems.
Taking the European market as an example, since the beginning of this year, Angelalign has appeared in many top European orthodontic conferences in Spain, Germany, the United Kingdom, Italy, etc., sharing the digital innovation achievements of the whole process of orthodontic treatment, and establishing a good trust and reputation among professional orthodontists and patients, especially the performance, quality and reliability of digital software products have been widely recognized, for example, through a series of software that combines artificial intelligence and clinical stomatology such as cephalometric system ICS and intelligent root bone system IRS, Angelalign assists doctors more efficiently in the process of diagnosis and program design, predicts and warns of possible risks, in order to reduce various risks in the process of diagnosis and treatment of malocclusion, and helps doctors provide patients with more reliable oral medical services.
Since July 4, 2023, Angelalign has used approximately HK$39 million to repurchase 643,600 shares, and the amount available for further share repurchases is approximately 1HK$6.1 billion. The Board is of the view that the expansion of the Share Repurchase Programme further reflects the confidence of the Directors and senior management of the Company in the long-term growth and market performance of the Company and is in the best interests of the Company and its shareholders as a whole.