+Follow
羚羊麋鹿
No personal profile
17
Follow
1
Followers
0
Topic
0
Badge
Posts
Hot
羚羊麋鹿
2021-06-16
…
Sorry, the original content has been removed
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3568265767133740","uuid":"3568265767133740","gmtCreate":1605171744147,"gmtModify":1704447503873,"name":"羚羊麋鹿","pinyin":"lymllingyangmilu","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/0b7671c9ba159243963461eebbbcd395","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":17,"tweetSize":1,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.12.23","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"93.06%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.78%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":2,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":169640944,"gmtCreate":1623834671388,"gmtModify":1703820867805,"author":{"id":"3568265767133740","authorId":"3568265767133740","name":"羚羊麋鹿","avatar":"https://static.tigerbbs.com/0b7671c9ba159243963461eebbbcd395","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568265767133740","authorIdStr":"3568265767133740"},"themes":[],"htmlText":"…","listText":"…","text":"…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169640944","repostId":"1139611758","repostType":4,"repost":{"id":"1139611758","kind":"news","weMediaInfo":{"introduction":"民间投资共享平台——汇集投资高手，发现投资好点子。","home_visible":1,"media_name":"阿尔法工场研究院","id":"1026500124","head_image":"https://static.tigerbbs.com/4df70e92a2d64be896797ea06b5e676a"},"pubTimestamp":1623834548,"share":"https://ttm.financial/m/news/1139611758?lang=en_US&edition=fundamental","pubTime":"2021-06-16 17:09","market":"hk","language":"zh","title":"Angel of the Times: The Digital Revolution of a Pair of Braces","url":"https://stock-news.laohu8.com/highlight/detail?id=1139611758","media":"阿尔法工场研究院","summary":"备受业界关注的“隐形正畸第一股”时代天使，终于在坚守了18年之后走入公众视野。6月16日，时代天使（06699.HK）正式在港交所上市，首日开盘价格高达400元/股，较发行价格涨131.21%。此次全","content":"<p>The angel of the era of \"the first invisible orthodontics\", which has attracted much attention from the industry, has finally entered the public eye after 18 years of persistence. On June 16, Times Angel (06699. HK) was officially listed on the Hong Kong Stock Exchange. The opening price on the first day was as high as 400 yuan per share, an increase of 131.21% from the issue price. The global public offering totaled 16.8296 million shares, with a price range of HK $147 per share to HK $173 per share, and the amount of funds raised was approximately HK $2.514 billion to HK $2.91 billion. The market value of nearly 30 billion has attracted the attention of the capital market.</p><p>This company, which is compared to the \"Maotai\" in the dental industry, was not paid attention to by capital ten years ago. At that time, capital paid more attention to major medical and health industries. As a medical segment, the dental industry is almost difficult to be favored by capital because of factors such as narrow and scattered market and long cultivation time. As a subdivided product in the oral field, a small pair of transparent braces is even more difficult to associate with the rapid digitalization.</p><p>However, this situation will be broken with the listing of Angel of the Times, and capital will begin to pay attention to the opportunities and prospects of this segmented track. A steady stream of capital injection will change the scattered and traditional development model of the industry, and the entry of capital and talents and the improvement of technology will rapidly upgrade the dental industry. In addition to changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process in the upstream of the entire industry chain has begun to accelerate.</p><p><img src=\"https://static.tigerbbs.com/a2f94ef421457b88a205a6eecd207a04\" tg-width=\"726\" tg-height=\"447\" referrerpolicy=\"no-referrer\"></p><p><b>01 Last fight, digitalization changes the traditional model of the industry</b></p><p>The listing of Times Angel has attracted the attention of the capital market because of its market value of over 10 billion yuan and its broad development prospects. However, no one knows that this company has been stinging for 18 years behind its \"blockbuster\". In 2009, when Times Angel was almost \"running out of food\", he met Wang Jian, the former general manager of Aobo Capital Asia. At that time, he had just returned from abroad and was looking for investment in industries related to people's livelihood.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. After his first contact with entrepreneurs for less than one and a half hours, he never thought that it took almost a whole day to meet Li Huamin, which is extremely rare in his 22-year investment career.</p><p>In addition to Li Huamin's persistence in the industry, what touched him even more was that in the office of less than 100 square meters, the 28 employees of Times Angel were full of positive spirit, \"a team that is almost out of bullets and is still fighting\", which gave him hope. Li Huamin spends every penny where it really needs to be used. This entrepreneurial quality of uniting employees in a difficult environment completely touched him.</p><p>In Wang Jian's view, last stand's warrior only needs ammunition (money), and all he can provide is these ammunition. Wang Jian quickly invested $6 million in Li Huamin, and Angel of the Times spent the most difficult moment in his life.</p><p>Even with the funds, the development of the invisible orthodontic industry is far less rapid than imagined. The reason is that there were almost no domestic companies doing this field at that time. At that time, Invisalign had not yet entered the Chinese market. Chinese people had limited understanding of invisible orthodontics, and there were still many problems facing the angels of the times.</p><p>In the past, because dentists were used to \"steel wire\" braces in orthodontics and were not familiar with invisible aligners, how to produce personalized products became the first problem faced by the angels of the times. They believed that there would be no users at all without digitizing products well.</p><p>Without experience to learn from, how should doctors with different abilities in China be empowered? So Times Angel established the SARS platform, interacted with doctors, and established personalized 3D printing technology, which is a digital infrastructure; However, basic digitalization is far from enough, because doctors also have \"thousands of people and thousands of faces\". Angel of the Times seems to be a product provided, but it actually provides solutions, and these solutions are personalized based on the ability of doctors. Customization to determine the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 stomatologists and 6,000 truly professional doctors in China. Last year, there were 2.88 million patients who underwent correction in China. So how do 2.88 million people find professional doctors to do corrections? For Angel of the Times, dentists need to be empowered according to their abilities and their digital understanding of invisible correction.</p><p>However, in the face of doctors, we cannot only rely on sales, but need to digitally analyze the growth rules of doctors, and thousands of people give them empowerment at different times and stages. This ability is not a product ability, but also includes training, market support, medical plans, how to check case support, etc.</p><p>The data shows that the number of dental surgeons served by Times Angel increased from approximately 11,500 in 2018 to approximately 15,800 in 2019, and further increased to approximately 19,900 in 2020. Completed cases increased from approximately 77,700 cases in 2018 to approximately 120,100 cases in 2019 and further to approximately 137,600 cases in 2020.</p><p>Compared with the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization revolves around the ecological industry for Angel of the Times, which is also the key to industrial upgrading.</p><p>With nearly 700,000 oral big data, the next step of Times Angel's empowerment is no longer limited to doctors, but to let more consumers know about invisible aligner products. Through remote consultation with doctors, ecological links can be realized, and even the links of various scientific research institutions ultimately bring about changes to the traditional model.</p><p><b>02 Solve difficult problems, from standardization to personalized innovation</b></p><p>The angel of the times who has elevated traditional orthodontic products to the digital process is still facing the challenge of continuous technological upgrading. It can be seen from the funds raised by its listing that the public offering in Hong Kong is 1,683,000 shares, and the public offering part accounts for about 10% of the global offering shares, and the funds raised are about HK $2.514 billion to HK $2.91 billion.</p><p>Approximately 39.9% of these funds raised are used to provide funds for the construction of Wuxi Chuangmei Base; About 18.3% is used to enhance the company's R&D capabilities and provide funds for internal and cooperative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and fully digitize all aspects of company operations, and deploy data intermediary platforms, etc. It is not difficult to see from the purpose of fundraising that most of Times Angel's funds are still used for research and development.</p><p>So why does Angel of the Times, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible correction is a process of continuous iteration of medical rules and software, and the purpose of investing a lot in research and development is to software the rules. At present, Times Angel invests 10-20% of the annual sales revenue in research and development.</p><p>What cannot be ignored is that the dental industry was more like an agricultural society before the invisible aligners came out, relying on the craftsman spirit of doctors, who treated patients with experience. Through the invisible aligners launched by Times Angel, the industry can carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind it, it relies on medical capabilities to mass-produce software solutions. These products replace doctors' manual steel wires, and biomechanics allow the movement of teeth to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still can't solve the pain points of thousands of doctors, because most cases of invisible orthodontics patients in China are complicated, and about 50% of them need tooth extraction, which means that orthodontics is a complicated movement. Therefore, how to help doctors use invisible correction tools to control cases requires the accumulation of big data.</p><p>Therefore, in the process of softwarizing medical rules, the database will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process is controllable. During this process, Angel of the Times will ask doctors to submit the treatment data and deliver it step by step. For example, a case requires 50 steps, and every 10 steps require a follow-up visit at the clinic. The doctor sends the correction effect to the angel of the times to help the doctor control the accuracy of the process.</p><p>This process still cannot solve the core problem by technology alone, and medical technical services are needed. Angel of the Times has understood since its establishment that many of the doctors it faces are non-professional orthodontists. If it serves dentists well, it must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Angel of the Times has established a team of doctors.</p><p>It is precisely because of the complexity of China's invisible correction that Times Angel has established a team of doctors and cooperated with top experts from the eight most authoritative universities in China. These experts treat hundreds of complex cases every year, and their clinical perception can help Times Angel innovate. It is understood that Times Angel and West China School of Stomatology of Sichuan University have established the \"Times Angel Digital Dental Teaching Laboratory\" to cultivate digital dental talents; Establish a \"Demonstration Base for Industrial Transformation of Oral Biomechanics and Artificial Intelligence Research\" with the Ninth People's Hospital affiliated to Shanghai Jiaotong University.</p><p>Increasing scientific research has solved the problems faced by Angels of the Times. However, behind thousands of doctors are thousands of patients, so personalized products still need innovation while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients puts forward innovative requirements for the products of Angel of the Times.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel buckle similar to a small hole to the standard products. Doctors can freely add traction at different positions of braces through this angel buckle \"small window\", thus solving the problem of product standardization to personalization.</p><p>Because there is enough data, Times Angel's active management level of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. At present, a student with oral background can quickly line up his teeth, and the efficiency is obviously improved.</p><p>However, for Angel of the Times, gathering doctor portraits still needs to improve core competencies, because the growth of each doctor is dynamic rather than static, which requires him to endow each layer of structure with different abilities and cooperation methods, and carry out all-round innovation and promotion to adapt to new changes.</p><p><b>03 Cultivate the market, lay out the ecology and accelerate industrial upgrading</b></p><p>Although Angels of the Times has entered the digital age in invisible correction, and the correction efficiency has been rapidly improved, they still hope that through the establishment of big data, more patients and even ordinary people will have a clear understanding of their teeth, thus playing a preventive role.</p><p>Therefore, through oral data scanning, an ecological digital platform is established; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health status, and then decide how to treat them according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for teeth, spending 1 yuan money on prevention can save 8 yuan money on treatment. However, at present, Chinese people have not done enough in dental prevention, and the reason for this problem is education. Therefore, it needs a steady stream of power from the industry and society to achieve it.</p><p>Based on this situation, Angel of the Times spends a lot of time training doctors. About 6.2% of its fundraising is used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, and regularly provide offline training for dentists on the application of the company's solutions, as well as Cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is reported that training and education in consumer awareness will also be strengthened in the future.</p><p>In fact, the digitalization of Angel of the Times has been laid out around the industrial ecology. Orthodontics, as the most complicated treatment of oral diseases, involves a long period. The big data accumulated by Angel of the Times can be applied to the health monitoring, treatment and other aspects of its teeth in the oral cavity in the future.</p><p>Because there are many problems involved in teeth, including tooth replacement, tooth decay, periodontal disease, dental implants, etc., different dental diseases will appear almost at many stages of life, and these diseases can be prevented in advance and diagnosed remotely. In addition to orthodontics, Angel of the Future Times is expected to use large databases to enter other dental-related fields, even including upstream and downstream industrial chains.</p><p>From the perspective of the industry, China's current digital ecological infrastructure is better than that of the United States, which is inseparable from the characteristics of Chinese patients. China has far more complex cases than the United States, and the cases in the United States are relatively simple. It can be said that compared with foreign companies, Angel of the Times is an orthodontic company that understands Chinese teeth better.</p><p>Angel of the Times, which has occupied half of the domestic market, is also targeting overseas markets. It is reported that Angel of the Times has obtained the FDA certificate in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired a number of upstream and downstream industries overseas in recent years, paving the way for the Angel of the Times who is ready to go global in the next step. Many coordinated developments will become natural with its listing.</p><p>After many years, Wang Jian believes that the development of Angel of the Times far exceeds the original expectation. Regarding the future development, he said that although Angel of the Times started from invisible correction, it can expand into a wider product line and even service field, and evolve into a brand, a culture and a symbol; Secondly, although the starting point of Times Angel is in China, it should not be limited to the Chinese market. The market for invisible correction should be global, and Times Angel can become one of the world's leading enterprises.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Angel of the Times: The Digital Revolution of a Pair of Braces</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAngel of the Times: The Digital Revolution of a Pair of Braces\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1026500124\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/4df70e92a2d64be896797ea06b5e676a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">阿尔法工场研究院 </p>\n<p class=\"h-time smaller\">2021-06-16 17:09</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The angel of the era of \"the first invisible orthodontics\", which has attracted much attention from the industry, has finally entered the public eye after 18 years of persistence. On June 16, Times Angel (06699. HK) was officially listed on the Hong Kong Stock Exchange. The opening price on the first day was as high as 400 yuan per share, an increase of 131.21% from the issue price. The global public offering totaled 16.8296 million shares, with a price range of HK $147 per share to HK $173 per share, and the amount of funds raised was approximately HK $2.514 billion to HK $2.91 billion. The market value of nearly 30 billion has attracted the attention of the capital market.</p><p>This company, which is compared to the \"Maotai\" in the dental industry, was not paid attention to by capital ten years ago. At that time, capital paid more attention to major medical and health industries. As a medical segment, the dental industry is almost difficult to be favored by capital because of factors such as narrow and scattered market and long cultivation time. As a subdivided product in the oral field, a small pair of transparent braces is even more difficult to associate with the rapid digitalization.</p><p>However, this situation will be broken with the listing of Angel of the Times, and capital will begin to pay attention to the opportunities and prospects of this segmented track. A steady stream of capital injection will change the scattered and traditional development model of the industry, and the entry of capital and talents and the improvement of technology will rapidly upgrade the dental industry. In addition to changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process in the upstream of the entire industry chain has begun to accelerate.</p><p><img src=\"https://static.tigerbbs.com/a2f94ef421457b88a205a6eecd207a04\" tg-width=\"726\" tg-height=\"447\" referrerpolicy=\"no-referrer\"></p><p><b>01 Last fight, digitalization changes the traditional model of the industry</b></p><p>The listing of Times Angel has attracted the attention of the capital market because of its market value of over 10 billion yuan and its broad development prospects. However, no one knows that this company has been stinging for 18 years behind its \"blockbuster\". In 2009, when Times Angel was almost \"running out of food\", he met Wang Jian, the former general manager of Aobo Capital Asia. At that time, he had just returned from abroad and was looking for investment in industries related to people's livelihood.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. After his first contact with entrepreneurs for less than one and a half hours, he never thought that it took almost a whole day to meet Li Huamin, which is extremely rare in his 22-year investment career.</p><p>In addition to Li Huamin's persistence in the industry, what touched him even more was that in the office of less than 100 square meters, the 28 employees of Times Angel were full of positive spirit, \"a team that is almost out of bullets and is still fighting\", which gave him hope. Li Huamin spends every penny where it really needs to be used. This entrepreneurial quality of uniting employees in a difficult environment completely touched him.</p><p>In Wang Jian's view, last stand's warrior only needs ammunition (money), and all he can provide is these ammunition. Wang Jian quickly invested $6 million in Li Huamin, and Angel of the Times spent the most difficult moment in his life.</p><p>Even with the funds, the development of the invisible orthodontic industry is far less rapid than imagined. The reason is that there were almost no domestic companies doing this field at that time. At that time, Invisalign had not yet entered the Chinese market. Chinese people had limited understanding of invisible orthodontics, and there were still many problems facing the angels of the times.</p><p>In the past, because dentists were used to \"steel wire\" braces in orthodontics and were not familiar with invisible aligners, how to produce personalized products became the first problem faced by the angels of the times. They believed that there would be no users at all without digitizing products well.</p><p>Without experience to learn from, how should doctors with different abilities in China be empowered? So Times Angel established the SARS platform, interacted with doctors, and established personalized 3D printing technology, which is a digital infrastructure; However, basic digitalization is far from enough, because doctors also have \"thousands of people and thousands of faces\". Angel of the Times seems to be a product provided, but it actually provides solutions, and these solutions are personalized based on the ability of doctors. Customization to determine the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 stomatologists and 6,000 truly professional doctors in China. Last year, there were 2.88 million patients who underwent correction in China. So how do 2.88 million people find professional doctors to do corrections? For Angel of the Times, dentists need to be empowered according to their abilities and their digital understanding of invisible correction.</p><p>However, in the face of doctors, we cannot only rely on sales, but need to digitally analyze the growth rules of doctors, and thousands of people give them empowerment at different times and stages. This ability is not a product ability, but also includes training, market support, medical plans, how to check case support, etc.</p><p>The data shows that the number of dental surgeons served by Times Angel increased from approximately 11,500 in 2018 to approximately 15,800 in 2019, and further increased to approximately 19,900 in 2020. Completed cases increased from approximately 77,700 cases in 2018 to approximately 120,100 cases in 2019 and further to approximately 137,600 cases in 2020.</p><p>Compared with the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization revolves around the ecological industry for Angel of the Times, which is also the key to industrial upgrading.</p><p>With nearly 700,000 oral big data, the next step of Times Angel's empowerment is no longer limited to doctors, but to let more consumers know about invisible aligner products. Through remote consultation with doctors, ecological links can be realized, and even the links of various scientific research institutions ultimately bring about changes to the traditional model.</p><p><b>02 Solve difficult problems, from standardization to personalized innovation</b></p><p>The angel of the times who has elevated traditional orthodontic products to the digital process is still facing the challenge of continuous technological upgrading. It can be seen from the funds raised by its listing that the public offering in Hong Kong is 1,683,000 shares, and the public offering part accounts for about 10% of the global offering shares, and the funds raised are about HK $2.514 billion to HK $2.91 billion.</p><p>Approximately 39.9% of these funds raised are used to provide funds for the construction of Wuxi Chuangmei Base; About 18.3% is used to enhance the company's R&D capabilities and provide funds for internal and cooperative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and fully digitize all aspects of company operations, and deploy data intermediary platforms, etc. It is not difficult to see from the purpose of fundraising that most of Times Angel's funds are still used for research and development.</p><p>So why does Angel of the Times, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible correction is a process of continuous iteration of medical rules and software, and the purpose of investing a lot in research and development is to software the rules. At present, Times Angel invests 10-20% of the annual sales revenue in research and development.</p><p>What cannot be ignored is that the dental industry was more like an agricultural society before the invisible aligners came out, relying on the craftsman spirit of doctors, who treated patients with experience. Through the invisible aligners launched by Times Angel, the industry can carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind it, it relies on medical capabilities to mass-produce software solutions. These products replace doctors' manual steel wires, and biomechanics allow the movement of teeth to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still can't solve the pain points of thousands of doctors, because most cases of invisible orthodontics patients in China are complicated, and about 50% of them need tooth extraction, which means that orthodontics is a complicated movement. Therefore, how to help doctors use invisible correction tools to control cases requires the accumulation of big data.</p><p>Therefore, in the process of softwarizing medical rules, the database will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process is controllable. During this process, Angel of the Times will ask doctors to submit the treatment data and deliver it step by step. For example, a case requires 50 steps, and every 10 steps require a follow-up visit at the clinic. The doctor sends the correction effect to the angel of the times to help the doctor control the accuracy of the process.</p><p>This process still cannot solve the core problem by technology alone, and medical technical services are needed. Angel of the Times has understood since its establishment that many of the doctors it faces are non-professional orthodontists. If it serves dentists well, it must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Angel of the Times has established a team of doctors.</p><p>It is precisely because of the complexity of China's invisible correction that Times Angel has established a team of doctors and cooperated with top experts from the eight most authoritative universities in China. These experts treat hundreds of complex cases every year, and their clinical perception can help Times Angel innovate. It is understood that Times Angel and West China School of Stomatology of Sichuan University have established the \"Times Angel Digital Dental Teaching Laboratory\" to cultivate digital dental talents; Establish a \"Demonstration Base for Industrial Transformation of Oral Biomechanics and Artificial Intelligence Research\" with the Ninth People's Hospital affiliated to Shanghai Jiaotong University.</p><p>Increasing scientific research has solved the problems faced by Angels of the Times. However, behind thousands of doctors are thousands of patients, so personalized products still need innovation while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients puts forward innovative requirements for the products of Angel of the Times.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel buckle similar to a small hole to the standard products. Doctors can freely add traction at different positions of braces through this angel buckle \"small window\", thus solving the problem of product standardization to personalization.</p><p>Because there is enough data, Times Angel's active management level of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. At present, a student with oral background can quickly line up his teeth, and the efficiency is obviously improved.</p><p>However, for Angel of the Times, gathering doctor portraits still needs to improve core competencies, because the growth of each doctor is dynamic rather than static, which requires him to endow each layer of structure with different abilities and cooperation methods, and carry out all-round innovation and promotion to adapt to new changes.</p><p><b>03 Cultivate the market, lay out the ecology and accelerate industrial upgrading</b></p><p>Although Angels of the Times has entered the digital age in invisible correction, and the correction efficiency has been rapidly improved, they still hope that through the establishment of big data, more patients and even ordinary people will have a clear understanding of their teeth, thus playing a preventive role.</p><p>Therefore, through oral data scanning, an ecological digital platform is established; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health status, and then decide how to treat them according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for teeth, spending 1 yuan money on prevention can save 8 yuan money on treatment. However, at present, Chinese people have not done enough in dental prevention, and the reason for this problem is education. Therefore, it needs a steady stream of power from the industry and society to achieve it.</p><p>Based on this situation, Angel of the Times spends a lot of time training doctors. About 6.2% of its fundraising is used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, and regularly provide offline training for dentists on the application of the company's solutions, as well as Cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is reported that training and education in consumer awareness will also be strengthened in the future.</p><p>In fact, the digitalization of Angel of the Times has been laid out around the industrial ecology. Orthodontics, as the most complicated treatment of oral diseases, involves a long period. The big data accumulated by Angel of the Times can be applied to the health monitoring, treatment and other aspects of its teeth in the oral cavity in the future.</p><p>Because there are many problems involved in teeth, including tooth replacement, tooth decay, periodontal disease, dental implants, etc., different dental diseases will appear almost at many stages of life, and these diseases can be prevented in advance and diagnosed remotely. In addition to orthodontics, Angel of the Future Times is expected to use large databases to enter other dental-related fields, even including upstream and downstream industrial chains.</p><p>From the perspective of the industry, China's current digital ecological infrastructure is better than that of the United States, which is inseparable from the characteristics of Chinese patients. China has far more complex cases than the United States, and the cases in the United States are relatively simple. It can be said that compared with foreign companies, Angel of the Times is an orthodontic company that understands Chinese teeth better.</p><p>Angel of the Times, which has occupied half of the domestic market, is also targeting overseas markets. It is reported that Angel of the Times has obtained the FDA certificate in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired a number of upstream and downstream industries overseas in recent years, paving the way for the Angel of the Times who is ready to go global in the next step. Many coordinated developments will become natural with its listing.</p><p>After many years, Wang Jian believes that the development of Angel of the Times far exceeds the original expectation. Regarding the future development, he said that although Angel of the Times started from invisible correction, it can expand into a wider product line and even service field, and evolve into a brand, a culture and a symbol; Secondly, although the starting point of Times Angel is in China, it should not be limited to the Chinese market. The market for invisible correction should be global, and Times Angel can become one of the world's leading enterprises.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a2f94ef421457b88a205a6eecd207a04","relate_stocks":{"06699":"时代天使"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139611758","content_text":"备受业界关注的“隐形正畸第一股”时代天使，终于在坚守了18年之后走入公众视野。6月16日，时代天使（06699.HK）正式在港交所上市，首日开盘价格高达400元/股，较发行价格涨131.21%。此次全球公开发售总计1682.96万股，价格区间为每股147港元至每股173港元,募资金额约为25.14亿至29.1亿港元，近三百亿的市值引发了资本市场的关注。\n这个被比喻成牙科行业“茅台”的公司十年前并不被资本所关注，那时的资本更看重大医疗、大健康产业。口腔行业作为医疗的细分领域，因为市场很窄且散乱，以及培育时间长等因素，几乎很难被资本青睐。而一副小小的透明牙套作为口腔领域的细分产品，更是难与突飞猛进的数字化联系在一起。\n然而这种局面随着时代天使的上市将被打破，资本开始关注到这一细分赛道的机会和前景。源源不断的资金注入将一改行业散乱、传统的发展模式，资本、人才的进入以及技术的提升，使牙科产业迅速升级。除了行业本身的变化外，与之相关的领域也开始关注这一赛道，整个产业链上游的数字化进程开始提速。\n\n01 背水一战，数字化改变行业传统模式\n时代天使上市引发资本市场关注的是其超百亿的市值及其广阔的发展前景，然而没有人知道这家公司在“一鸣惊人”的背后经过了18年的蜇伏。2009年时代天使几乎在“弹绝粮尽”时，遇到奥博资本亚洲前总经理王健，当时他刚刚从国外回来，正在寻找与民生有关的行业投资。\n机缘巧合，王健认识了时代天使CEO李华敏。与创业者初次接触不超过一个半小时的他怎么也没有想到，与李华敏的见面几乎用了一整天的时间，在其22年的投资生涯中极为罕见。\n除了李华敏对行业的执着之外，更让他感动的是在不及100平方米的办公室内，时代天使的28个员工充满了积极向上的精神，“一个子弹都快打光，还在战斗的团队”，让他看到了希望。李华敏把每一分钱都会用在真正该用的地方，这种在艰苦的环境中把员工团结在一起的创业者品质，彻底感动了他。\n在王健看来，背水一战的勇士只需要弹药（钱）就行，而他能够提供的就是这些弹药。王健迅速给李华敏投了600万美金，时代天使度过了人生最为艰难的时刻。\n即使拿到了资金，隐形正畸行业的发展远没有想象的迅速。原因是当时国内几乎没有企业在做这个领域，那时隐适美还未进入中国市场，国人对于隐形正畸了解程度有限，摆在时代天使面前的难题仍然很多。\n过去由于牙医在牙齿矫正上习惯了“钢丝”牙套，对于隐形矫正器并不熟悉，如何生产出个性化的产品成为时代天使面临的第一道难题，他们认为不把产品的数字化做好，根本就没有用户。\n在没有经验可借鉴的前提下，面对中国不同能力的医生该如何赋能？于是时代天使建立了SARS平台，与医生进行交互，并且建立了个性化的3D打印技术，这是数字化的基础设施；然而拥有基础的数字化还远远不够，因为医生也有“千人千面”，时代天使看似是提供的一个产品，实际提供的是解决方案，而这些解决方案是基于医生的能力来进行的个性化定制，由此来决定最终的矫治结果。\n据不完全统计，目前中国有27万的口腔医生，真正专业的医生有6000名，而去年做矫正的患者在全国有288万人。那么288万人如何找到专业的医生来做矫正？对于时代天使来说，需要根据牙医的能力以及其对隐形矫正的数字化理解对其赋能。\n然而面对医生并不能只靠销售，而是需要通过数字化分析医生的成长规则，千人千面地给予其不同时间、不同阶段的赋能，这种能力并不是产品能力，还包括培训、市场支持、医学方案，如何把关病例的支持等等。\n数据显示，时代天使服务的牙科医生数量由2018年的约11,500位增至2019年的约15,800位，并进一步增至2020年的约 19,900位。达成案例由2018年的约77,700例增至2019年的约120,100例，并进一步增至2020年的约137,600例。\n相对第一阶段的产品数字化和第二阶段的技术服务数字化，第三个阶段的数字化对于时代天使来说则是围绕生态产业进行，而这也是产业升级的关键。\n由于拥有近70万口腔大数据，时代天使下一步的赋能不再局限于医生，而是让更多消费者知道隐形矫正器产品，通过医生远程会诊，实现生态的链接，甚至各个科研院校的链接，最终带来的是对传统模式的改变。\n02 破解难题，从标准化到个性化创新\n已经把传统正畸产品上升到数字化程的时代天使，仍然面临着技术不断升级的挑战。从其上市的募资可以看出，香港公开发售为1,683,000股，公开发售部分占全球发售股份约10%，募资金额约为25.14亿至29.1亿港元。\n这些募资的用途约39 .9%用于为无锡市创美基地的建设提供资金；约18 .3%用于提升公司的研发能力以及为内部和合作研发项目提供资金；约10 .8%用于开发灵活及可扩展的智能信息技术系统以精简及全面数字化公司运营的所有方面，并部署数据中间平台等。从募资用途不难看出，时代天使大部分资金仍用于研发。\n那么走在数字化前沿的时代天使为什么会把大部分资金用于研发？据了解，隐形矫正是一个医学规则加软件不断迭代的提升过程，大量投入研发的目的就是要把规则软件化。目前时代天使投入研发的费用是每年销售额收入的10-20%。\n不容忽视的是，口腔行业在没有隐形矫正器出来之前更像是一个农业社会，靠是医生的匠人精神，医生凭借经验给患者治疗。而通过时代天使推出的隐形矫正器，使行业可以进行规模化、数字化生产，进入了牙齿矫正的工业化时代，背后依靠的是医学能力把软件批量化生产方案，这些产品替代了医生手工钢丝，而生物力学让牙齿的移动可以数据化。从而完成了个性化产品的规模化生产，实现了产品的标准化。\n然而标准化的产品仍不能解决千人千面医生的痛点，因为中国大部分隐形矫正患者的病例都比较复杂，约有50%的人需要拔牙，而拔牙意味着矫正是一个复杂的移动。因此如何帮助医生使用隐形矫正工具来控制好病例，需要大数据积累。\n因此在把医学规则软件化的过程中，数据库将使每步治疗变得更清晰。具体来看就是，通过阶段性地帮助医生，使治疗过程可控，这个过程中时代天使会要求医生将治疗数据进行提交，分步发货。比如一个病例需要50步，每做10步都需要到诊所复诊，医生将矫正的效果发到时代天使，帮助医生控制过程中的精准度。\n这个过程仅靠技术仍然解决不了核心问题，还需医学技术服务。时代天使从最初建立就明白，面对的医生很多是非专业的正畸医生，如果服务好牙医，必须有医学的基因，才能让技术的门槛真正降低提升效率，因此时代天使建立了医生团队。\n正是由于中国隐形矫正的复杂性，时代天使在建立了医生团队的基础上，与国内最权威的八大院校顶级专家合作，这些专家每年都要冶疗几百例复杂病例，他们对临床的感知可以帮助时代天使进行创新。据了解，时代天使与四川大学华西口腔医学院建立“时代天使数字化口腔教学实验室”,培养数字化口腔人才；与上海交通大学附属第九人民医院建立“口腔生物力学与人工智能研究产业转化示范基地”。\n加码科研使时代天使面临的问题得以破解，然而千人千面医生背后是万人万面的患者，那么个性化的产品在实现标准化的同时仍需要创新。尤其对于很多专业的医生来说，如何在不同患者身上发挥其医学能力，对时代天使的产品提出了创新要求。\n据了解，时代天使在标配产品上，又创新性地增加了一个类似小口子的“小窗”天使扣，医生可以通过这个天使扣“小窗”自由的在牙套不同的位置添加牵引，从而解决了产品从标准化到个性化的难题。\n由于有足够多的数据，时代天使对于患者的主动管理水平越来越高，医学规则软件化的能力也越来越强。目前一个有口腔背景的学生很快就能把排齐一口牙，效率提升明显。\n不过对于时代天使来说，聚集医生画像仍需提升核心能力，因为每个医生的成长是动态而非静态，这就需要其对于每一层结构赋予不同的能力与合作方式，进行全方位的创新与提升，以适应新的变化。\n03 培育市场，布局生态加速产业升级\n尽管时代天使在隐形矫正上已经进入数字化时代，矫正效率得到了快速提升，但他们仍然希望通过大数据的建立，使更多的患者甚至是普通的百姓对自己牙齿有清晰了解，从而起到预防的作用。\n因此通过口扫数据，建立生态数字化平台；通过赋能医生，使其对患者进行远程会诊，让消费者对自己的口腔健康状况有一个全面的了解，再根据自己的经济水平决定如何治疗，而远程会诊未来可以做到免费。\n在业内专家看来，对于牙齿来说，预防花1元钱，在治疗上就可以省8元钱，然而目前中国人在牙齿预防上还做的远远不够，导致这一问题的原因是教育。因此需要行业和社会投入源源不断的力量去实现。\n而时代天使正是基于这一现状，花费很多时间对医生进行培训。其募资中约6 .2%用于优化公司的医学服务，通过增设七处区域示范中心提高线下医学服务的触达，同时定期为牙科医生提供针对公司解决方案应用的线下培训，以及与中国国内知名高等教育机构合作，通过联合计划培养医学人才。据悉，未来也将在消费者认知方面加强培训教育。\n事实上，时代天使的数字化一直在围绕产业生态进行布局。正畸作为口腔疾病中最复杂的治疗，涉及周期比较长。时代天使累积的大数据，未来可以应用到口腔内其牙齿的健康监测、治疗等多个方面。\n因为牙齿所涉及的问题较多，包括换牙、蛀牙、牙周病、植牙等等，几乎在人生的多个阶段都会出现不同的牙齿疾病，这些疾病都能做提前预防和远程诊断。除了正畸之外，未来时代天使有望借助大数据库，进入其他与牙齿相关的领域，甚至包括上下游产业链。\n在业内看来，目前中国的数字化生态的基础设施要好于美国，这与中国患者的特点分不开，中国的复杂病例要远远多于美国，而美国的病例相对比较简单。可以说，相对国外企业，时代天使是更懂中国人牙齿的正畸企业。\n已经在国内市场占据半壁江山的时代天使，也瞄准了海外市场。据悉，目前时代天使早在2018年就已经在美国拿到了FDA证书，其产品均可销售。此外，其大股东松柏资本近几年在海外收购了多家上下游产业，为下一步准备走出去的时代天使铺好了路，很多协同发展随着其上市也将变得水到渠成。\n时隔多年之后，王健认为，时代天使的发展远超原来的预期。对于未来发展，他表示，时代天使虽然是从隐形矫治起家的，却可以拓展出更广的产品线甚至服务领域，演变成一种品牌、一种文化、一种象征；其次，时代天使的起点虽然在中国，但不应该局限于中国市场，隐形矫治的市场应该是全球性的，时代天使可以成为全球领先的企业之一。","news_type":1,"symbols_score_info":{"06699":0.9}},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":169640944,"gmtCreate":1623834671388,"gmtModify":1703820867805,"author":{"id":"3568265767133740","authorId":"3568265767133740","name":"羚羊麋鹿","avatar":"https://static.tigerbbs.com/0b7671c9ba159243963461eebbbcd395","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568265767133740","authorIdStr":"3568265767133740"},"themes":[],"htmlText":"…","listText":"…","text":"…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169640944","repostId":"1139611758","repostType":4,"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
