3600.HK
Founded in 2012, Modern Dental principally makes and sells dental products from production facilities initially in China and later expanded to Vietnam, Europe, North America and Australia.

The Latest: Modern Dental Group (3600.HK) on Thursday reported its revenue rose 6.2% year-on-year to HK$837 million ($107 million) in this year’s first quarter, buoyed by a 16.6% jump for its European sales.

Looking Up: The company’s Mainland China business rose 7% during the quarter, restrained by China’s implementation of a volume-based procurement policy in the second half of last year.

Take Note: Sales of MicroDental, the company’s North American laboratory business, declined by 4% in the quarter, primarily due to weak demand for dental implants and softness in the U.S. economy.

Digging Deeper: Founded in 2012, Modern Dental principally makes and sells dental products from production facilities initially in China and later expanded to Vietnam, Europe, North America and Australia. The company was listed in Hong Kong in 2015 and has since acquired a range of global brands and gradually expanded its production workforce to more than 4,800 at the end of last year. Its business has continued grow, and it recorded record revenues last year, saying it expects global demand for its products to continue growing in the medium to long term.

Market Reaction: Modern Dental’s shares fell on Friday, closing down 4.2% to HK$4.57 by the midday break. The stock now trades near the upper end of its 52-week range.

Translation by A. Au

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