32 323990.KQ Vaxcell-Bio Therapeutics Co., Ltd. Loading... : Bullish and Bearish Analyst Opinions

Graphy makes a thermo-responsive shape-memory clear aligner that softens in warm water and then gradually returns to its target shape, cutting treatment time to about half and reducing pain compared with conventional wire or plastic aligners. The company has 70-80% gross margin and fast revenue growth, while operating losses are promotional spending similar to Align Technology's early trajectory. Its acquisition of Ray adds intraoral scanning, vertical integration, and overseas distribution. With about 9,000 domestic dental clinics and most sales already overseas, Graphy can keep penetrating the 70% of the orthodontic market still using wire and brackets.