Zhengya Dental's IPO on the ChiNext board has been accepted, and the number of invisible orthodontic cases in 2025 ranks second in the industry.

On June 29th, Zhejiang Zhengya Dental Co., Ltd. (referred to as Zhengya Dental) has had its IPO on the ChiNext Board of the Shenzhen Stock Exchange accepted. China Securities Co., Ltd. is its sponsor institution, and it plans to raise 900.86 million yuan. The prospectus shows that Zhengya Dental's main business is the research and development of digital invisible orthodontic original technology, the production and manufacturing of customized invisible aligners, and related technical services. It has become one of the major participants in China's invisible orthodontic industry. After years of deep cultivation and accumulation, the company has built a solid technological barrier and market foundation in the field of invisible orthodontics. It has created a product matrix covering the entire life cycle, including classic version, Enjoy edition, GS series, children and adolescent series, and other core categories, which can meet diverse clinical correction needs from teeth alignment to complex jaw reconstruction. In the domestic market, according to Benchmark Information's research report, by 2025, the number of invisible orthodontic cases of the company ranks second in the industry, and its brand recognition and market influence continue to rise. Its business network has covered all provinces, autonomous regions, and municipalities in China. In addition, the company is steadily advancing its international development strategy, with its products and services exported to more than 50 countries and regions, including Spain, Japan, Italy, the UK, and France. According to Benchmark Information's research report, the Chinese market for invisible aligners has formed a highly concentrated competition landscape dominated by a few leading companies. In terms of domestic case numbers, the market share is highly concentrated among three leading companies, including ANGELALIGN, Zhengya Dental, and AiQi Technology, with the three companies combined holding over 90% market share. During the reporting period, the company's main business revenue composition by product category is as follows: In terms of raw materials, the company procures materials focusing on the main raw materials required for the production of invisible aligners. PETG/TPU particles are the main raw materials for producing dental aligners, while photosensitive resin is the main raw material for producing 3D printed aligner molds. Main suppliers include Shenzhen Ruirong Technology Co., Ltd., Eastman (China) Investment Management Co., Ltd., Shanghai Xinsdick New Materials Co., Ltd., and Jiejiayou (Shenzhen) Material Technology Co., Ltd. The total amount of funds actually raised in this offering will be determined by the offering price, with all funds raised being used for the following projects: Financially, in the fiscal years 2023, 2024, and 2025, the company's operating income is expected to be approximately 648 million yuan, 786 million yuan, and 938 million yuan respectively. During the same period, the net profit is expected to be approximately 136 million yuan, 44.3442 million yuan, and 127 million yuan respectively.