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2021-06-16
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Angel of the Times: The Digital Revolution of a Pair of Braces
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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>Times Angel, the \"first stock in invisible orthodontics\" that has attracted much attention in the industry, has finally entered the public eye after 18 years. On June 16, Angel Times (06699.HK) officially listed on the Hong Kong Stock Exchange, with the opening price reaching HK$400 per share on the first day, an increase of 131.21% compared to the issue price. The global public offering totaled 16.8296 million shares, with prices ranging from HK$147 to HK$173 per share, raising approximately HK$2.514 billion to HK$2.91 billion. The market capitalization of nearly HK$30 billion has attracted the attention of the capital market.</p><p>This company, which has been likened to the \"Moutai\" of the dental industry, was not noticed by capital ten years ago. At that time, capital was more focused on the major medical and health industries. As a sub-sector of medical care, the dental industry is almost difficult to attract capital due to factors such as a narrow and scattered market and a long cultivation period. A small pair of transparent braces, as a niche product in the oral field, is even more difficult to associate with the rapid advancement of digitalization.</p><p>However, this situation will be broken with the listing of Times Angel, and capital will begin to pay attention to the opportunities and prospects of this niche market. The continuous injection of funds will change the industry's scattered and traditional development model. The entry of capital and talent, as well as the improvement of technology, will rapidly upgrade the dental industry. In addition to the changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process of the entire upstream 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 A do-or-die battle: Digitalization changes traditional industry models</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 the company has been hiding behind its \"stunning success\" for 18 years. In 2009, when Times Angel was almost out of food, it met Wang Jian, the former general manager of Aubo Capital Asia. At that time, he had just returned from abroad and was looking for investments in industries related to people's livelihoods.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. His initial contact with the entrepreneur lasted no more than an hour and a half, but he never expected that his meeting with Li Huamin would last almost a whole day, which is extremely rare in his 22-year investment career.</p><p>Besides Li Huamin's dedication to the industry, what moved him even more was the positive spirit of the 28 employees of Times Angel in their office of less than 100 square meters. \"A team that is almost out of bullets but still fighting\" gave him hope. Li Huamin spends every penny where it truly belongs. This entrepreneurial quality of uniting employees in difficult circumstances deeply moved him.</p><p>In Wang Jian's view, warriors fighting a do-or-die battle only need ammunition (money), and that's all he can provide. Wang Jian quickly invested $6 million in Li Huamin, and Times Angel got through the most difficult moment of his life.</p><p>Even with funding, the development of the invisible orthodontics industry has not been as rapid as imagined. The reason was that at that time there were almost no companies in China doing this field. At that time, Invisalign had not yet entered the Chinese market, and the Chinese people's understanding of invisible orthodontics was limited. There were still many challenges facing Times Angel.</p><p>In the past, dentists were accustomed to \"wire\" braces in orthodontic treatment and were unfamiliar with invisible braces. How to produce personalized products became the first challenge facing Times Angel. They believed that without doing a good job in digitizing the products, there would be no users at all.</p><p>Without experience to draw upon, how can 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 \"personalized faces\". Times Angel may seem to provide a product, but it actually provides solutions, and these solutions are based on the doctor's ability. Personalized customization, which determines the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 dentists in China, of which 6,000 are truly professional. Last year, 2.88 million patients underwent orthodontic treatment nationwide. So how can 2.88 million people find professional doctors for corrections? For Times Angels, it is necessary to empower dentists based on their capabilities and their digital understanding of invisible orthodontics.</p><p>However, facing doctors cannot rely only on sales, but needs to digitally analyze the growth rules of doctors, and give them empowerment at different times and stages. This ability is not product ability, but also includes training, market support, medical solutions, how to control case support, etc.</p><p>According to the data, the number of dentists in Times Angel Services increased from approximately 11,500 in 2018 to approximately 15,800 in 2019 and further to approximately 19,900 in 2020. The number of completed cases increased from approximately 77,700 in 2018 to approximately 120,100 in 2019 and further to approximately 137,600 in 2020.</p><p>Compared to the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization for Times Angel revolves around the ecosystem industry, which is also the key to industrial upgrading.</p><p>With nearly 700,000 pieces of oral big data, Times Angel's next step in empowering is no longer limited to doctors, but to let more consumers know about invisible orthodontic products. Through remote consultations with doctors, the ecosystem can be connected, and even various research institutions can be connected, ultimately bringing about a change in the traditional model.</p><p><b>02 Solving Problems: From Standardization to Personalized Innovation</b></p><p>Times Angel, which has already upgraded traditional orthodontic products to the digital stage, still faces the challenge of continuous technological upgrades. As can be seen from the proceeds from its listing, the Hong Kong public offering consisted of 1,683,000 shares, representing approximately 10% of the global offering shares, raising approximately HK$2.514 billion to HK$2.91 billion.</p><p>Approximately 39.9% of these funds were used to fund the construction of the Wuxi Chuangmei Base; Approximately 18.3% will be used to enhance the company's R&D capabilities and fund internal and collaborative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and comprehensively digitize all aspects of the company's operations, and to deploy data intermediary platforms, etc. It is not difficult to see from the use of the raised funds that most of Times Angel's funds are still used for research and development.</p><p>So why does Times Angel, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible orthodontics is a process of continuous iteration of medical rules and software. The purpose of investing heavily in research and development is to software the rules. Currently, Angel Times invests 10-20% of its annual sales revenue in research and development.</p><p>It cannot be ignored that before invisible braces came out, the dental industry was more like an agricultural society, relying on the craftsmanship of doctors and their experience to treat patients. The invisible braces launched by Times Angel have enabled the industry to carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind them is the mass production of software solutions based on medical capabilities. These products replace doctors' manual steel wires, while biomechanics allows tooth movement to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still cannot solve the pain points of personalized doctors, because the cases of most invisible orthodontic patients in China are relatively complex, and about 50% of them need to have their teeth extracted. Tooth extraction means that orthodontics is a complex movement. Therefore, how to help doctors use invisible correction tools to control cases requires big data accumulation.</p><p>Therefore, in the process of software medical rules, databases will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process can be controlled. During this process, Angel of the Times will require doctors to submit treatment data and ship the goods step by step. For example, a case requires 50 steps, and every 10 steps requires a follow-up visit to the clinic. The doctor sends the correction results to Times Angel to help the doctor control the accuracy of the process.</p><p>This process cannot solve the core problem by technology alone, and medical technology services are also needed. From its inception, Times Angel understood that many of the doctors it dealt with were non-professional orthodontists. To serve dentists well, they must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Times Angel established a team of doctors.</p><p>Due to the complexity of invisible orthodontics in China, Times Angel has established a team of doctors and collaborated with top experts from eight of the 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 has established the \"Times Angel Digital Dental Teaching Laboratory\" with West China School of Stomatology of Sichuan University 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 Jiao Tong University.</p><p>Increased investment in scientific research has solved the problems faced by Times Angel. However, behind thousands of personalized doctors are thousands of patients. Therefore, personalized products still need to be innovated while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients has put forward innovative requirements for Times Angel's products.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel clasp similar to a small opening to its standard products. Doctors can use this angel clasp \"small window\" to freely add traction to different positions of the braces, thus solving the problem of products from standardization to personalization.</p><p>With sufficient data, Times Angel's proactive management of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. Currently, a student with a dental background can quickly straighten a set of teeth, resulting in a significant improvement in efficiency.</p><p>However, for Times Angel, gathering doctor profiles still requires improving core competencies, because the growth of each doctor is dynamic rather than static. This requires them to endow each layer of structure with different abilities and cooperation methods, and to carry out comprehensive innovation and improvement to adapt to new changes.</p><p><b>03 Cultivate the market and build an ecosystem to accelerate industrial upgrading</b></p><p>Although Times Angel has entered the digital age in invisible orthodontics and the efficiency of orthodontics has been rapidly improved, they still hope to use big data to enable more patients and even ordinary people to have a clear understanding of their teeth, thereby playing a preventive role.</p><p>Therefore, an ecological digital platform is established through oral scan data; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health and then decide how to treat according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for dental prevention, spending 1 yuan can save 8 yuan on treatment. However, Chinese people are still far from doing enough in dental prevention, and the reason for this problem is education. Therefore, the industry and society need to invest a continuous stream of resources to achieve this.</p><p>Based on this situation, Times Angel spends a lot of time training doctors. Approximately 6.2% of the funds raised will be used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, regularly provide offline training for dentists on the application of the company's solutions, and cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is understood that training and education on consumer awareness will also be strengthened in the future.</p><p>In fact, Times Angel's digitalization has always been centered around the industrial ecosystem. Orthodontics, as the most complex treatment for oral diseases, involves a relatively long cycle. The big data accumulated by Times Angel can be applied to various aspects such as dental health monitoring and treatment in the mouth in the future.</p><p>Because teeth involve many problems, including tooth exchange, cavities, periodontal disease, dental implants, etc., different dental diseases can occur at almost every stage of life, and these diseases can be prevented and diagnosed remotely. In addition to orthodontics, Times Angel is expected to leverage big data to enter other dental-related fields, including upstream and downstream industry chains.</p><p>Industry insiders believe that China's current digital ecosystem 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, while the cases in the United States are relatively simpler. It can be said that, compared to foreign companies, Times Angel is an orthodontic company that understands Chinese teeth better.</p><p>Times Angel, which already holds half of the domestic market, has also set its sights on overseas markets. It is reported that Times Angel has already obtained FDA certification in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired several upstream and downstream industries overseas in recent years, paving the way for Times Angel to prepare to go global in the next step. Many collaborative developments will become a natural progression with its listing.</p><p>Years later, Wang Jian believes that Times Angel's development has far exceeded original expectations. Regarding future development, he said that although Times Angel started with invisible orthodontics, it can expand to a wider product line and even service areas, evolving into a brand, a culture, and a symbol. Secondly, although AngelAge started in China, it should not be limited to the Chinese market. The market for invisible orthodontics should be global, and AngelAge can become one of the world's leading companies.</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>Times Angel, the \"first stock in invisible orthodontics\" that has attracted much attention in the industry, has finally entered the public eye after 18 years. On June 16, Angel Times (06699.HK) officially listed on the Hong Kong Stock Exchange, with the opening price reaching HK$400 per share on the first day, an increase of 131.21% compared to the issue price. The global public offering totaled 16.8296 million shares, with prices ranging from HK$147 to HK$173 per share, raising approximately HK$2.514 billion to HK$2.91 billion. The market capitalization of nearly HK$30 billion has attracted the attention of the capital market.</p><p>This company, which has been likened to the \"Moutai\" of the dental industry, was not noticed by capital ten years ago. At that time, capital was more focused on the major medical and health industries. As a sub-sector of medical care, the dental industry is almost difficult to attract capital due to factors such as a narrow and scattered market and a long cultivation period. A small pair of transparent braces, as a niche product in the oral field, is even more difficult to associate with the rapid advancement of digitalization.</p><p>However, this situation will be broken with the listing of Times Angel, and capital will begin to pay attention to the opportunities and prospects of this niche market. The continuous injection of funds will change the industry's scattered and traditional development model. The entry of capital and talent, as well as the improvement of technology, will rapidly upgrade the dental industry. In addition to the changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process of the entire upstream 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 A do-or-die battle: Digitalization changes traditional industry models</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 the company has been hiding behind its \"stunning success\" for 18 years. In 2009, when Times Angel was almost out of food, it met Wang Jian, the former general manager of Aubo Capital Asia. At that time, he had just returned from abroad and was looking for investments in industries related to people's livelihoods.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. His initial contact with the entrepreneur lasted no more than an hour and a half, but he never expected that his meeting with Li Huamin would last almost a whole day, which is extremely rare in his 22-year investment career.</p><p>Besides Li Huamin's dedication to the industry, what moved him even more was the positive spirit of the 28 employees of Times Angel in their office of less than 100 square meters. \"A team that is almost out of bullets but still fighting\" gave him hope. Li Huamin spends every penny where it truly belongs. This entrepreneurial quality of uniting employees in difficult circumstances deeply moved him.</p><p>In Wang Jian's view, warriors fighting a do-or-die battle only need ammunition (money), and that's all he can provide. Wang Jian quickly invested $6 million in Li Huamin, and Times Angel got through the most difficult moment of his life.</p><p>Even with funding, the development of the invisible orthodontics industry has not been as rapid as imagined. The reason was that at that time there were almost no companies in China doing this field. At that time, Invisalign had not yet entered the Chinese market, and the Chinese people's understanding of invisible orthodontics was limited. There were still many challenges facing Times Angel.</p><p>In the past, dentists were accustomed to \"wire\" braces in orthodontic treatment and were unfamiliar with invisible braces. How to produce personalized products became the first challenge facing Times Angel. They believed that without doing a good job in digitizing the products, there would be no users at all.</p><p>Without experience to draw upon, how can 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 \"personalized faces\". Times Angel may seem to provide a product, but it actually provides solutions, and these solutions are based on the doctor's ability. Personalized customization, which determines the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 dentists in China, of which 6,000 are truly professional. Last year, 2.88 million patients underwent orthodontic treatment nationwide. So how can 2.88 million people find professional doctors for corrections? For Times Angels, it is necessary to empower dentists based on their capabilities and their digital understanding of invisible orthodontics.</p><p>However, facing doctors cannot rely only on sales, but needs to digitally analyze the growth rules of doctors, and give them empowerment at different times and stages. This ability is not product ability, but also includes training, market support, medical solutions, how to control case support, etc.</p><p>According to the data, the number of dentists in Times Angel Services increased from approximately 11,500 in 2018 to approximately 15,800 in 2019 and further to approximately 19,900 in 2020. The number of completed cases increased from approximately 77,700 in 2018 to approximately 120,100 in 2019 and further to approximately 137,600 in 2020.</p><p>Compared to the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization for Times Angel revolves around the ecosystem industry, which is also the key to industrial upgrading.</p><p>With nearly 700,000 pieces of oral big data, Times Angel's next step in empowering is no longer limited to doctors, but to let more consumers know about invisible orthodontic products. Through remote consultations with doctors, the ecosystem can be connected, and even various research institutions can be connected, ultimately bringing about a change in the traditional model.</p><p><b>02 Solving Problems: From Standardization to Personalized Innovation</b></p><p>Times Angel, which has already upgraded traditional orthodontic products to the digital stage, still faces the challenge of continuous technological upgrades. As can be seen from the proceeds from its listing, the Hong Kong public offering consisted of 1,683,000 shares, representing approximately 10% of the global offering shares, raising approximately HK$2.514 billion to HK$2.91 billion.</p><p>Approximately 39.9% of these funds were used to fund the construction of the Wuxi Chuangmei Base; Approximately 18.3% will be used to enhance the company's R&D capabilities and fund internal and collaborative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and comprehensively digitize all aspects of the company's operations, and to deploy data intermediary platforms, etc. It is not difficult to see from the use of the raised funds that most of Times Angel's funds are still used for research and development.</p><p>So why does Times Angel, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible orthodontics is a process of continuous iteration of medical rules and software. The purpose of investing heavily in research and development is to software the rules. Currently, Angel Times invests 10-20% of its annual sales revenue in research and development.</p><p>It cannot be ignored that before invisible braces came out, the dental industry was more like an agricultural society, relying on the craftsmanship of doctors and their experience to treat patients. The invisible braces launched by Times Angel have enabled the industry to carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind them is the mass production of software solutions based on medical capabilities. These products replace doctors' manual steel wires, while biomechanics allows tooth movement to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still cannot solve the pain points of personalized doctors, because the cases of most invisible orthodontic patients in China are relatively complex, and about 50% of them need to have their teeth extracted. Tooth extraction means that orthodontics is a complex movement. Therefore, how to help doctors use invisible correction tools to control cases requires big data accumulation.</p><p>Therefore, in the process of software medical rules, databases will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process can be controlled. During this process, Angel of the Times will require doctors to submit treatment data and ship the goods step by step. For example, a case requires 50 steps, and every 10 steps requires a follow-up visit to the clinic. The doctor sends the correction results to Times Angel to help the doctor control the accuracy of the process.</p><p>This process cannot solve the core problem by technology alone, and medical technology services are also needed. From its inception, Times Angel understood that many of the doctors it dealt with were non-professional orthodontists. To serve dentists well, they must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Times Angel established a team of doctors.</p><p>Due to the complexity of invisible orthodontics in China, Times Angel has established a team of doctors and collaborated with top experts from eight of the 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 has established the \"Times Angel Digital Dental Teaching Laboratory\" with West China School of Stomatology of Sichuan University 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 Jiao Tong University.</p><p>Increased investment in scientific research has solved the problems faced by Times Angel. However, behind thousands of personalized doctors are thousands of patients. Therefore, personalized products still need to be innovated while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients has put forward innovative requirements for Times Angel's products.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel clasp similar to a small opening to its standard products. Doctors can use this angel clasp \"small window\" to freely add traction to different positions of the braces, thus solving the problem of products from standardization to personalization.</p><p>With sufficient data, Times Angel's proactive management of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. Currently, a student with a dental background can quickly straighten a set of teeth, resulting in a significant improvement in efficiency.</p><p>However, for Times Angel, gathering doctor profiles still requires improving core competencies, because the growth of each doctor is dynamic rather than static. This requires them to endow each layer of structure with different abilities and cooperation methods, and to carry out comprehensive innovation and improvement to adapt to new changes.</p><p><b>03 Cultivate the market and build an ecosystem to accelerate industrial upgrading</b></p><p>Although Times Angel has entered the digital age in invisible orthodontics and the efficiency of orthodontics has been rapidly improved, they still hope to use big data to enable more patients and even ordinary people to have a clear understanding of their teeth, thereby playing a preventive role.</p><p>Therefore, an ecological digital platform is established through oral scan data; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health and then decide how to treat according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for dental prevention, spending 1 yuan can save 8 yuan on treatment. However, Chinese people are still far from doing enough in dental prevention, and the reason for this problem is education. Therefore, the industry and society need to invest a continuous stream of resources to achieve this.</p><p>Based on this situation, Times Angel spends a lot of time training doctors. Approximately 6.2% of the funds raised will be used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, regularly provide offline training for dentists on the application of the company's solutions, and cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is understood that training and education on consumer awareness will also be strengthened in the future.</p><p>In fact, Times Angel's digitalization has always been centered around the industrial ecosystem. Orthodontics, as the most complex treatment for oral diseases, involves a relatively long cycle. The big data accumulated by Times Angel can be applied to various aspects such as dental health monitoring and treatment in the mouth in the future.</p><p>Because teeth involve many problems, including tooth exchange, cavities, periodontal disease, dental implants, etc., different dental diseases can occur at almost every stage of life, and these diseases can be prevented and diagnosed remotely. In addition to orthodontics, Times Angel is expected to leverage big data to enter other dental-related fields, including upstream and downstream industry chains.</p><p>Industry insiders believe that China's current digital ecosystem 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, while the cases in the United States are relatively simpler. It can be said that, compared to foreign companies, Times Angel is an orthodontic company that understands Chinese teeth better.</p><p>Times Angel, which already holds half of the domestic market, has also set its sights on overseas markets. It is reported that Times Angel has already obtained FDA certification in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired several upstream and downstream industries overseas in recent years, paving the way for Times Angel to prepare to go global in the next step. Many collaborative developments will become a natural progression with its listing.</p><p>Years later, Wang Jian believes that Times Angel's development has far exceeded original expectations. Regarding future development, he said that although Times Angel started with invisible orthodontics, it can expand to a wider product line and even service areas, evolving into a brand, a culture, and a symbol. Secondly, although AngelAge started in China, it should not be limited to the Chinese market. The market for invisible orthodontics should be global, and AngelAge can become one of the world's leading companies.</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":712,"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,"authorIdStr":"3568265767133740","idStr":"3568265767133740"},"themes":[],"title":"","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>Times Angel, the \"first stock in invisible orthodontics\" that has attracted much attention in the industry, has finally entered the public eye after 18 years. On June 16, Angel Times (06699.HK) officially listed on the Hong Kong Stock Exchange, with the opening price reaching HK$400 per share on the first day, an increase of 131.21% compared to the issue price. The global public offering totaled 16.8296 million shares, with prices ranging from HK$147 to HK$173 per share, raising approximately HK$2.514 billion to HK$2.91 billion. The market capitalization of nearly HK$30 billion has attracted the attention of the capital market.</p><p>This company, which has been likened to the \"Moutai\" of the dental industry, was not noticed by capital ten years ago. At that time, capital was more focused on the major medical and health industries. As a sub-sector of medical care, the dental industry is almost difficult to attract capital due to factors such as a narrow and scattered market and a long cultivation period. A small pair of transparent braces, as a niche product in the oral field, is even more difficult to associate with the rapid advancement of digitalization.</p><p>However, this situation will be broken with the listing of Times Angel, and capital will begin to pay attention to the opportunities and prospects of this niche market. The continuous injection of funds will change the industry's scattered and traditional development model. The entry of capital and talent, as well as the improvement of technology, will rapidly upgrade the dental industry. In addition to the changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process of the entire upstream 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 A do-or-die battle: Digitalization changes traditional industry models</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 the company has been hiding behind its \"stunning success\" for 18 years. In 2009, when Times Angel was almost out of food, it met Wang Jian, the former general manager of Aubo Capital Asia. At that time, he had just returned from abroad and was looking for investments in industries related to people's livelihoods.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. His initial contact with the entrepreneur lasted no more than an hour and a half, but he never expected that his meeting with Li Huamin would last almost a whole day, which is extremely rare in his 22-year investment career.</p><p>Besides Li Huamin's dedication to the industry, what moved him even more was the positive spirit of the 28 employees of Times Angel in their office of less than 100 square meters. \"A team that is almost out of bullets but still fighting\" gave him hope. Li Huamin spends every penny where it truly belongs. This entrepreneurial quality of uniting employees in difficult circumstances deeply moved him.</p><p>In Wang Jian's view, warriors fighting a do-or-die battle only need ammunition (money), and that's all he can provide. Wang Jian quickly invested $6 million in Li Huamin, and Times Angel got through the most difficult moment of his life.</p><p>Even with funding, the development of the invisible orthodontics industry has not been as rapid as imagined. The reason was that at that time there were almost no companies in China doing this field. At that time, Invisalign had not yet entered the Chinese market, and the Chinese people's understanding of invisible orthodontics was limited. There were still many challenges facing Times Angel.</p><p>In the past, dentists were accustomed to \"wire\" braces in orthodontic treatment and were unfamiliar with invisible braces. How to produce personalized products became the first challenge facing Times Angel. They believed that without doing a good job in digitizing the products, there would be no users at all.</p><p>Without experience to draw upon, how can 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 \"personalized faces\". Times Angel may seem to provide a product, but it actually provides solutions, and these solutions are based on the doctor's ability. Personalized customization, which determines the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 dentists in China, of which 6,000 are truly professional. Last year, 2.88 million patients underwent orthodontic treatment nationwide. So how can 2.88 million people find professional doctors for corrections? For Times Angels, it is necessary to empower dentists based on their capabilities and their digital understanding of invisible orthodontics.</p><p>However, facing doctors cannot rely only on sales, but needs to digitally analyze the growth rules of doctors, and give them empowerment at different times and stages. This ability is not product ability, but also includes training, market support, medical solutions, how to control case support, etc.</p><p>According to the data, the number of dentists in Times Angel Services increased from approximately 11,500 in 2018 to approximately 15,800 in 2019 and further to approximately 19,900 in 2020. The number of completed cases increased from approximately 77,700 in 2018 to approximately 120,100 in 2019 and further to approximately 137,600 in 2020.</p><p>Compared to the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization for Times Angel revolves around the ecosystem industry, which is also the key to industrial upgrading.</p><p>With nearly 700,000 pieces of oral big data, Times Angel's next step in empowering is no longer limited to doctors, but to let more consumers know about invisible orthodontic products. Through remote consultations with doctors, the ecosystem can be connected, and even various research institutions can be connected, ultimately bringing about a change in the traditional model.</p><p><b>02 Solving Problems: From Standardization to Personalized Innovation</b></p><p>Times Angel, which has already upgraded traditional orthodontic products to the digital stage, still faces the challenge of continuous technological upgrades. As can be seen from the proceeds from its listing, the Hong Kong public offering consisted of 1,683,000 shares, representing approximately 10% of the global offering shares, raising approximately HK$2.514 billion to HK$2.91 billion.</p><p>Approximately 39.9% of these funds were used to fund the construction of the Wuxi Chuangmei Base; Approximately 18.3% will be used to enhance the company's R&D capabilities and fund internal and collaborative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and comprehensively digitize all aspects of the company's operations, and to deploy data intermediary platforms, etc. It is not difficult to see from the use of the raised funds that most of Times Angel's funds are still used for research and development.</p><p>So why does Times Angel, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible orthodontics is a process of continuous iteration of medical rules and software. The purpose of investing heavily in research and development is to software the rules. Currently, Angel Times invests 10-20% of its annual sales revenue in research and development.</p><p>It cannot be ignored that before invisible braces came out, the dental industry was more like an agricultural society, relying on the craftsmanship of doctors and their experience to treat patients. The invisible braces launched by Times Angel have enabled the industry to carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind them is the mass production of software solutions based on medical capabilities. These products replace doctors' manual steel wires, while biomechanics allows tooth movement to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still cannot solve the pain points of personalized doctors, because the cases of most invisible orthodontic patients in China are relatively complex, and about 50% of them need to have their teeth extracted. Tooth extraction means that orthodontics is a complex movement. Therefore, how to help doctors use invisible correction tools to control cases requires big data accumulation.</p><p>Therefore, in the process of software medical rules, databases will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process can be controlled. During this process, Angel of the Times will require doctors to submit treatment data and ship the goods step by step. For example, a case requires 50 steps, and every 10 steps requires a follow-up visit to the clinic. The doctor sends the correction results to Times Angel to help the doctor control the accuracy of the process.</p><p>This process cannot solve the core problem by technology alone, and medical technology services are also needed. From its inception, Times Angel understood that many of the doctors it dealt with were non-professional orthodontists. To serve dentists well, they must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Times Angel established a team of doctors.</p><p>Due to the complexity of invisible orthodontics in China, Times Angel has established a team of doctors and collaborated with top experts from eight of the 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 has established the \"Times Angel Digital Dental Teaching Laboratory\" with West China School of Stomatology of Sichuan University 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 Jiao Tong University.</p><p>Increased investment in scientific research has solved the problems faced by Times Angel. However, behind thousands of personalized doctors are thousands of patients. Therefore, personalized products still need to be innovated while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients has put forward innovative requirements for Times Angel's products.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel clasp similar to a small opening to its standard products. Doctors can use this angel clasp \"small window\" to freely add traction to different positions of the braces, thus solving the problem of products from standardization to personalization.</p><p>With sufficient data, Times Angel's proactive management of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. Currently, a student with a dental background can quickly straighten a set of teeth, resulting in a significant improvement in efficiency.</p><p>However, for Times Angel, gathering doctor profiles still requires improving core competencies, because the growth of each doctor is dynamic rather than static. This requires them to endow each layer of structure with different abilities and cooperation methods, and to carry out comprehensive innovation and improvement to adapt to new changes.</p><p><b>03 Cultivate the market and build an ecosystem to accelerate industrial upgrading</b></p><p>Although Times Angel has entered the digital age in invisible orthodontics and the efficiency of orthodontics has been rapidly improved, they still hope to use big data to enable more patients and even ordinary people to have a clear understanding of their teeth, thereby playing a preventive role.</p><p>Therefore, an ecological digital platform is established through oral scan data; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health and then decide how to treat according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for dental prevention, spending 1 yuan can save 8 yuan on treatment. However, Chinese people are still far from doing enough in dental prevention, and the reason for this problem is education. Therefore, the industry and society need to invest a continuous stream of resources to achieve this.</p><p>Based on this situation, Times Angel spends a lot of time training doctors. Approximately 6.2% of the funds raised will be used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, regularly provide offline training for dentists on the application of the company's solutions, and cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is understood that training and education on consumer awareness will also be strengthened in the future.</p><p>In fact, Times Angel's digitalization has always been centered around the industrial ecosystem. Orthodontics, as the most complex treatment for oral diseases, involves a relatively long cycle. The big data accumulated by Times Angel can be applied to various aspects such as dental health monitoring and treatment in the mouth in the future.</p><p>Because teeth involve many problems, including tooth exchange, cavities, periodontal disease, dental implants, etc., different dental diseases can occur at almost every stage of life, and these diseases can be prevented and diagnosed remotely. In addition to orthodontics, Times Angel is expected to leverage big data to enter other dental-related fields, including upstream and downstream industry chains.</p><p>Industry insiders believe that China's current digital ecosystem 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, while the cases in the United States are relatively simpler. It can be said that, compared to foreign companies, Times Angel is an orthodontic company that understands Chinese teeth better.</p><p>Times Angel, which already holds half of the domestic market, has also set its sights on overseas markets. It is reported that Times Angel has already obtained FDA certification in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired several upstream and downstream industries overseas in recent years, paving the way for Times Angel to prepare to go global in the next step. Many collaborative developments will become a natural progression with its listing.</p><p>Years later, Wang Jian believes that Times Angel's development has far exceeded original expectations. Regarding future development, he said that although Times Angel started with invisible orthodontics, it can expand to a wider product line and even service areas, evolving into a brand, a culture, and a symbol. Secondly, although AngelAge started in China, it should not be limited to the Chinese market. The market for invisible orthodontics should be global, and AngelAge can become one of the world's leading companies.</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>Times Angel, the \"first stock in invisible orthodontics\" that has attracted much attention in the industry, has finally entered the public eye after 18 years. On June 16, Angel Times (06699.HK) officially listed on the Hong Kong Stock Exchange, with the opening price reaching HK$400 per share on the first day, an increase of 131.21% compared to the issue price. The global public offering totaled 16.8296 million shares, with prices ranging from HK$147 to HK$173 per share, raising approximately HK$2.514 billion to HK$2.91 billion. The market capitalization of nearly HK$30 billion has attracted the attention of the capital market.</p><p>This company, which has been likened to the \"Moutai\" of the dental industry, was not noticed by capital ten years ago. At that time, capital was more focused on the major medical and health industries. As a sub-sector of medical care, the dental industry is almost difficult to attract capital due to factors such as a narrow and scattered market and a long cultivation period. A small pair of transparent braces, as a niche product in the oral field, is even more difficult to associate with the rapid advancement of digitalization.</p><p>However, this situation will be broken with the listing of Times Angel, and capital will begin to pay attention to the opportunities and prospects of this niche market. The continuous injection of funds will change the industry's scattered and traditional development model. The entry of capital and talent, as well as the improvement of technology, will rapidly upgrade the dental industry. In addition to the changes in the industry itself, related fields have also begun to pay attention to this track, and the digitalization process of the entire upstream 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 A do-or-die battle: Digitalization changes traditional industry models</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 the company has been hiding behind its \"stunning success\" for 18 years. In 2009, when Times Angel was almost out of food, it met Wang Jian, the former general manager of Aubo Capital Asia. At that time, he had just returned from abroad and was looking for investments in industries related to people's livelihoods.</p><p>By chance, Wang Jian met Li Huamin, CEO of Times Angel. His initial contact with the entrepreneur lasted no more than an hour and a half, but he never expected that his meeting with Li Huamin would last almost a whole day, which is extremely rare in his 22-year investment career.</p><p>Besides Li Huamin's dedication to the industry, what moved him even more was the positive spirit of the 28 employees of Times Angel in their office of less than 100 square meters. \"A team that is almost out of bullets but still fighting\" gave him hope. Li Huamin spends every penny where it truly belongs. This entrepreneurial quality of uniting employees in difficult circumstances deeply moved him.</p><p>In Wang Jian's view, warriors fighting a do-or-die battle only need ammunition (money), and that's all he can provide. Wang Jian quickly invested $6 million in Li Huamin, and Times Angel got through the most difficult moment of his life.</p><p>Even with funding, the development of the invisible orthodontics industry has not been as rapid as imagined. The reason was that at that time there were almost no companies in China doing this field. At that time, Invisalign had not yet entered the Chinese market, and the Chinese people's understanding of invisible orthodontics was limited. There were still many challenges facing Times Angel.</p><p>In the past, dentists were accustomed to \"wire\" braces in orthodontic treatment and were unfamiliar with invisible braces. How to produce personalized products became the first challenge facing Times Angel. They believed that without doing a good job in digitizing the products, there would be no users at all.</p><p>Without experience to draw upon, how can 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 \"personalized faces\". Times Angel may seem to provide a product, but it actually provides solutions, and these solutions are based on the doctor's ability. Personalized customization, which determines the final correction result.</p><p>According to incomplete statistics, there are currently 270,000 dentists in China, of which 6,000 are truly professional. Last year, 2.88 million patients underwent orthodontic treatment nationwide. So how can 2.88 million people find professional doctors for corrections? For Times Angels, it is necessary to empower dentists based on their capabilities and their digital understanding of invisible orthodontics.</p><p>However, facing doctors cannot rely only on sales, but needs to digitally analyze the growth rules of doctors, and give them empowerment at different times and stages. This ability is not product ability, but also includes training, market support, medical solutions, how to control case support, etc.</p><p>According to the data, the number of dentists in Times Angel Services increased from approximately 11,500 in 2018 to approximately 15,800 in 2019 and further to approximately 19,900 in 2020. The number of completed cases increased from approximately 77,700 in 2018 to approximately 120,100 in 2019 and further to approximately 137,600 in 2020.</p><p>Compared to the first stage of product digitalization and the second stage of technical service digitalization, the third stage of digitalization for Times Angel revolves around the ecosystem industry, which is also the key to industrial upgrading.</p><p>With nearly 700,000 pieces of oral big data, Times Angel's next step in empowering is no longer limited to doctors, but to let more consumers know about invisible orthodontic products. Through remote consultations with doctors, the ecosystem can be connected, and even various research institutions can be connected, ultimately bringing about a change in the traditional model.</p><p><b>02 Solving Problems: From Standardization to Personalized Innovation</b></p><p>Times Angel, which has already upgraded traditional orthodontic products to the digital stage, still faces the challenge of continuous technological upgrades. As can be seen from the proceeds from its listing, the Hong Kong public offering consisted of 1,683,000 shares, representing approximately 10% of the global offering shares, raising approximately HK$2.514 billion to HK$2.91 billion.</p><p>Approximately 39.9% of these funds were used to fund the construction of the Wuxi Chuangmei Base; Approximately 18.3% will be used to enhance the company's R&D capabilities and fund internal and collaborative R&D projects; Approximately 10.8% was used to develop flexible and scalable intelligent information technology systems to streamline and comprehensively digitize all aspects of the company's operations, and to deploy data intermediary platforms, etc. It is not difficult to see from the use of the raised funds that most of Times Angel's funds are still used for research and development.</p><p>So why does Times Angel, which is at the forefront of digitalization, spend most of its funds on research and development? It is understood that invisible orthodontics is a process of continuous iteration of medical rules and software. The purpose of investing heavily in research and development is to software the rules. Currently, Angel Times invests 10-20% of its annual sales revenue in research and development.</p><p>It cannot be ignored that before invisible braces came out, the dental industry was more like an agricultural society, relying on the craftsmanship of doctors and their experience to treat patients. The invisible braces launched by Times Angel have enabled the industry to carry out large-scale and digital production, entering the industrialized era of orthodontics. Behind them is the mass production of software solutions based on medical capabilities. These products replace doctors' manual steel wires, while biomechanics allows tooth movement to be digitized. Thereby completing the large-scale production of personalized products and realizing the standardization of products.</p><p>However, standardized products still cannot solve the pain points of personalized doctors, because the cases of most invisible orthodontic patients in China are relatively complex, and about 50% of them need to have their teeth extracted. Tooth extraction means that orthodontics is a complex movement. Therefore, how to help doctors use invisible correction tools to control cases requires big data accumulation.</p><p>Therefore, in the process of software medical rules, databases will make each step of treatment clearer. Specifically, by helping doctors in stages, the treatment process can be controlled. During this process, Angel of the Times will require doctors to submit treatment data and ship the goods step by step. For example, a case requires 50 steps, and every 10 steps requires a follow-up visit to the clinic. The doctor sends the correction results to Times Angel to help the doctor control the accuracy of the process.</p><p>This process cannot solve the core problem by technology alone, and medical technology services are also needed. From its inception, Times Angel understood that many of the doctors it dealt with were non-professional orthodontists. To serve dentists well, they must have medical genes in order to truly lower the technical threshold and improve efficiency. Therefore, Times Angel established a team of doctors.</p><p>Due to the complexity of invisible orthodontics in China, Times Angel has established a team of doctors and collaborated with top experts from eight of the 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 has established the \"Times Angel Digital Dental Teaching Laboratory\" with West China School of Stomatology of Sichuan University 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 Jiao Tong University.</p><p>Increased investment in scientific research has solved the problems faced by Times Angel. However, behind thousands of personalized doctors are thousands of patients. Therefore, personalized products still need to be innovated while achieving standardization. Especially for many professional doctors, how to exert their medical abilities on different patients has put forward innovative requirements for Times Angel's products.</p><p>It is understood that Times Angel has innovatively added a \"small window\" angel clasp similar to a small opening to its standard products. Doctors can use this angel clasp \"small window\" to freely add traction to different positions of the braces, thus solving the problem of products from standardization to personalization.</p><p>With sufficient data, Times Angel's proactive management of patients is getting higher and higher, and its ability to software medical rules is getting stronger and stronger. Currently, a student with a dental background can quickly straighten a set of teeth, resulting in a significant improvement in efficiency.</p><p>However, for Times Angel, gathering doctor profiles still requires improving core competencies, because the growth of each doctor is dynamic rather than static. This requires them to endow each layer of structure with different abilities and cooperation methods, and to carry out comprehensive innovation and improvement to adapt to new changes.</p><p><b>03 Cultivate the market and build an ecosystem to accelerate industrial upgrading</b></p><p>Although Times Angel has entered the digital age in invisible orthodontics and the efficiency of orthodontics has been rapidly improved, they still hope to use big data to enable more patients and even ordinary people to have a clear understanding of their teeth, thereby playing a preventive role.</p><p>Therefore, an ecological digital platform is established through oral scan data; By empowering doctors to conduct remote consultations with patients, consumers can have a comprehensive understanding of their oral health and then decide how to treat according to their own economic level. Remote consultations can be free in the future.</p><p>According to industry experts, for dental prevention, spending 1 yuan can save 8 yuan on treatment. However, Chinese people are still far from doing enough in dental prevention, and the reason for this problem is education. Therefore, the industry and society need to invest a continuous stream of resources to achieve this.</p><p>Based on this situation, Times Angel spends a lot of time training doctors. Approximately 6.2% of the funds raised will be used to optimize the company's medical services, increase the reach of offline medical services by adding seven regional demonstration centers, regularly provide offline training for dentists on the application of the company's solutions, and cooperate with well-known higher education institutions in China to cultivate medical talents through joint programs. It is understood that training and education on consumer awareness will also be strengthened in the future.</p><p>In fact, Times Angel's digitalization has always been centered around the industrial ecosystem. Orthodontics, as the most complex treatment for oral diseases, involves a relatively long cycle. The big data accumulated by Times Angel can be applied to various aspects such as dental health monitoring and treatment in the mouth in the future.</p><p>Because teeth involve many problems, including tooth exchange, cavities, periodontal disease, dental implants, etc., different dental diseases can occur at almost every stage of life, and these diseases can be prevented and diagnosed remotely. In addition to orthodontics, Times Angel is expected to leverage big data to enter other dental-related fields, including upstream and downstream industry chains.</p><p>Industry insiders believe that China's current digital ecosystem 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, while the cases in the United States are relatively simpler. It can be said that, compared to foreign companies, Times Angel is an orthodontic company that understands Chinese teeth better.</p><p>Times Angel, which already holds half of the domestic market, has also set its sights on overseas markets. It is reported that Times Angel has already obtained FDA certification in the United States as early as 2018, and its products can be sold. In addition, its major shareholder, Songbai Capital, has acquired several upstream and downstream industries overseas in recent years, paving the way for Times Angel to prepare to go global in the next step. Many collaborative developments will become a natural progression with its listing.</p><p>Years later, Wang Jian believes that Times Angel's development has far exceeded original expectations. Regarding future development, he said that although Times Angel started with invisible orthodontics, it can expand to a wider product line and even service areas, evolving into a brand, a culture, and a symbol. Secondly, although AngelAge started in China, it should not be limited to the Chinese market. The market for invisible orthodontics should be global, and AngelAge can become one of the world's leading companies.</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":712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
