Modern Dental Group Limited · HKEX:3600
Modern Dental — H1 2026 Earnings Presentation
37 slides from Modern Dental's earnings presentation, August 2026
Slide 1: Modern Dental Group Limited 2026 Interim Results
Modern Dental Group Limited 現代牙科集團有限公司 Stock Code: 03600.HK 2026 Interim Results Investor Presentation
Slide 2: Why Invest in Modern Dental?
Why Invest in Modern Dental? Strategic Position: The Leading Comprehensive Dental Ecosystem Partner The only cross region dental leader with centralized production capabilities and unique distribution and sales network globally Record-high margin profile given streamlined digital workflow and enhanc
Slide 3: Key Financial Highlights (1H2026)
Key Financial Highlights (1H2026) The increase in the EBITDA and the net profit was predominately due to: (i) the continued improvement in operational efficiency as a result of an increase in the proportion of digital solution cases; (ii) the change of geographic sales mix shift with increased sales
Slide 4: Solid Financial Performance
Solid Financial Performance Solid financial indicators HK$ million 2,032 1,835 1,902 560.7 456.7 481.4 377.6 312.6 288.7 Revenue EBITDA Net Profit 1H 2025 2H 2025 1H 2026 1H 2025 2H 2025 1H 2026 1H 2025 2H 2025 1H 2026 Enhanced margin profile Percentage (%) 58.1% 56.8% 24.9% 27.6% 15.7% 18.6% 25.3%
Slide 5: Net Profit Bridge Between 1H 2025 and 1H 2026
Net Profit Bridge Between 1H 2025 and 1H 2026 The increase in the net profit was due to: (i) production efficiency optimization and better resources management under the transition from traditional to digital workflows; (ii) the change of geographic sales mix shift with increased sales proportion fr
Slide 6: Operation Review
Operation Review
Slide 7: Global Footprint
Global Footprint Modern Dental Group is the leading dental prosthetics provider, distributor and consultant in the world. Top 3 Provides services to 30+ 2M+ 40+ Leading position in countries and 35,000+ Smiles restored International major markets dentists worldwide annually production facilities 7
Slide 8: Diversified Portfolio and Comprehensive Dental Ecosystem
Diversified Portfolio and Comprehensive Dental Ecosystem Fixed E.g. • Full ceramics (e.g., FMZ , Revenue Breakdown by Product Type Lava , Calypso , e.max® etc.) Prosthetics • Porcelain Fused to Metal (PFM) • Full cast metal For the six months ended 30 June 2026 • Implant restorations (e.g., All- on-
Slide 9: Uniquely Positioned in Global Dental Industry Supply Chains
Uniquely Positioned in Global Dental Industry Supply Chains Major Listed Players Ticker P/E Ratio (TTM) Descriptions and Notes Market data as of August 2026 • Manufacturer of consumables and NASDAQ: HSIC 26.1 equipment • Manufactures and markets dental NASDAQ: NVST 47.4 consumable products and denta
Slide 10: Stable Sales Growth in the Global Markets (1H 2026)
Stable Sales Growth in the Global Markets (1H 2026) Sales Performance by Region in Original Currency Revenue Breakdown by Region Positive revenue growths were achieved in higher-margin regions whereas For the six months ended 30 June 2026 revenue declined in the relatively lower-margin business. Thi
Slide 11: Intraoral Scanners – Acceleration of Digitalization in Dentistry
Intraoral Scanners – Acceleration of Digitalization in Dentistry Adoption of Intraoral scanners accelerated Scalable and high-efficient digitalized production process Intraoral scan and Instant digital Production with Finishing & Quality 7 digitalized transfer to Delivery CAD/CAM refinement check Da
Slide 12: Complete Digital Workflow Enhancing Operational Productivity
Complete Digital Workflow Enhancing Operational Productivity Sales and Marketing Bite Scanning Case Submission CAD/CAM Production Customers Service • Equip dental professionals • Partner with imaging • Self-developed digital • Innovative treatment planning • Traceable digital record with essential t
Slide 13: Technology-Driven Aesthetic Analysis and Outcome Visualization
Technology-Driven Aesthetic Analysis and Outcome Visualization Analysis of: (i) Facial aesthetics: proportions of the face, symmetry and balance; (ii) Dental proportions: size and shape of teeth, alignment and spacing; (iii) Smile line: the curvature of the smile, teeth alignment with the smile line
Slide 14: Advanced Digital Platforms Elevating Customer Experience
Advanced Digital Platforms Elevating Customer Experience Celebrates 40 Years of Excellence: Redefining Smiles. The Digital Way. • Our dedication to innovation has driven us to develop solutions that leverage multi-dimensional data analysis (e.g., bite scanning, patients’ photos, X-ray, CBCT scans et
Slide 15: Enhanced Margin Profile Through Digital Transformation Initiatives
Enhanced Margin Profile Through Digital Transformation Initiatives Doubled Net Profit Margins achieved through streamlined processes 6.7% 18.6% and enhanced operational efficiency under digital transformation in dentistry FY 2019 1H 2026 HK$ Million 700 Net Profit and Net Profit Margin 18.6% 20% 16.
Slide 16: Unlocking Synergy Through Strategic Acquisition
Unlocking Synergy Through Strategic Acquisition Vertical Integration: Extend our distribution and Broaden our product range and expand global sales network into new geographic markets to market reach by bringing the latest dental accelerate market penetration innovations to the world from one countr
Slide 17: Integrated Education Platform Empowering the Dental Community
Integrated Education Platform Empowering the Dental Community Symposium & Seminar Exhibition & Study Club Hands-on Workshop & Live Surgery • Our integrated education platform allows dental professionals to stay connected and elevate their skills by providing comprehensive, cutting-edge educational o
Slide 18: TrioClear – Latest Development
TrioClear – Latest Development The progressive clear aligner solution HK$ million +21.3% 2-year CAGR 32.8 27.3 22.3 Revenue 1H 2024 1H 2025 1H 2026 +22.4% 2-year CAGR 4,366 3,644 2,914 Global sales network enables the Group to capture clear aligner business in a cost-effective manner. Number of case
Slide 19: TrioClear – Latest Development
TrioClear – Latest Development The progressive clear aligner solution Continuous enhancement on software and e-platform facilitating clinical diagnosis • Trio iDesign 2.0 - 3D simulation software to view, modify, monitor and approve aligner treatment plan • provides a programed estimation of desired
Slide 20: Shareholder Return
Shareholder Return Dividend payout ratio at approximately 35% Share Buyback Dividend (HK cent) +30.8% YoY 636,000 No. of Shares Repurchased 1H 2026 14.0 10.7 HK$3.68M Amount for the Repurchase Consideration 1H 2026 1H 2025 1H 2026 20
Slide 21: Future Outlook
Future Outlook
Slide 22: Core Capabilities in Dental Market Leadership
Core Capabilities in Dental Market Leadership Centralized Production Capability and Frontrunner of Digital Dental Solutions The Trusted Partner and Consultant for Dentists Global Distribution Network State-of –the-art dental technology and digital dental Offer innovative treatment options that save
Slide 23: Future Prospects and Strategies
Future Prospects and Strategies The Group will apply the following strategies to maintain its position as a comprehensive dental ecosystem partner. Building a Full Dental Ecosystem Through Digitalization ➢ Continued investments in digital workflows, intra-oral scanner partnerships, and our proprieta
Slide 24: Financial Overview
Financial Overview
Slide 25: Performance Overview
Performance Overview Percentage Percentage Change Change (HK$’000) 1H 2026 2H 2025 1H 2025 (1H2026 vs (1H2026 vs 2H2025) 1H2025) Revenue 2,032,491 1,901,705 1,834,814 +6.9% +10.8% Gross Profit 1,180,873 1,079,476 1,005,476 +9.4% +17.4% Gross Profit Margin 58.1% 56.8% 54.8% +1.3 p.p. +3.3 p.p. EBITDA
Slide 26: Working Capital Overview
Working Capital Overview Days 1H 2026 1H 2025 Change in days Cash Conversion Cycle 94 days 93 days +1 days Inventory Turnover Days 43 days 39 days +4 days Trade Payable Days 17 days 14 days +3 days Trade Receivable Turnover Days 68 days 68 days 0 days 26
Slide 27: Balance Sheet Summary
Balance Sheet Summary (HK$’000) 30 June 2026 31 December 2025 Percentage Change Non-current assets 2,726,430 2,727,395 0.0% Current assets 2,071,086 1,812,883 +14.2% Current liabilities 610,708 559,950 +9.1% Net current assets 1,460,378 1,252,933 +16.6% Cash and cash equivalents 828,947 767,035 +8.1
Slide 28: Key Financial Ratios
Key Financial Ratios 30 June 2026 31 December 2025 Gearing ratio(Note1) 6.4% 9.5% Current ratio (times) 3.4 3.2 Quick ratio (times) 3.1 2.9 Interest coverage ratio 64.3 31.6 Return on equity 22.1% 19.9% Net bank borrowings(Note2) / Adjusted EBITDA -0.68 -0.31 Note: 1.Gearing ratio is calculated by n
Slide 29: Total Cost Breakdown vs Revenue Breakdown
Total Cost Breakdown vs Revenue Breakdown According to original currency Total Cost Breakdown 1H2026 Revenue Breakdown 1H2026 Others Others 8% 7% AUD AUD 6% EUR 8% 27% USD/CAD USD/CAD 16% EUR 18% 54% HKD CNY 5% HKD 33% 8% CNY 10% 29
Slide 30: Financial Performance With Constant FX Rates
Financial Performance With Constant FX Rates Solid financial indicators HK$ million 949.1 3,848 3,529 833.0 3,304 752.6 605.4 580.2 522.3 452.9 397.0 2,032 Revenue Adjusted EBITDA Adjusted Net Profit FY2023 FY2024 FY2025 1H2026 FY2023 FY2024 FY2025 1H2026 FY2023 FY2024 FY2025 1H2026 Enhanced margin
Slide 31: Appendix
Appendix 31
Slide 32: Growth Strategies Overview
Acquisition of Hexa Ceram in Thailand Growth Strategies Overview Acquisition of Digital Sleep Design in Australia Experienced Consolidator in the Market 2025 Main production facility relocated to Vietnam and Dongguan 2024 phase II production facility Dongguan, China Ranked Top 1-3 in market share Fo
Slide 33: Diversified Production Layout and Strict Quality Control
Diversified Production Layout and Strict Quality Control Strategic Establishment of Three Levels of Production Facilities 3 Denmark 2 Germany 1 Centralized production centers • Regions with lower labour costs 3 Netherlands • Economies of scale 2 Regional digital production facilities Beijing and Sha
Slide 34: Megatrends Driving The Dental Industry
Megatrends Driving The Dental Industry Increasing Increasing Increasing Aging Disposable Incidents of Oral Health Population Income per Capita Dental Diseases Awareness Estimated per capita GDP growth in over the world between 2014 -2018: US$ Annual treatment cost due to dental CAGR for global cosme
Slide 35: Overview of Production Process
Overview of Production Process Fixed Prosthetic Devices 1) Impression/ Model Framework Ceramic QA Installation 2) Intra-oral Scanner • Provide technical support when dentists • Produce reference • Product design • Additional porcelain • Quality checks prior • Provide technical support when take impr
Slide 36: Company Structure
Company Structure Chan Family Public Shareholders 50.78% Hillhouse Investment 31.97% 17.25% The Company (Cayman Islands) Note: 1. The shareholding ratio has reflected the completion of cancellation of shares bought back up to 12 August 2026. 2. The calculation of the shareholding ratio has been adju
Slide 37: Disclaimer
Disclaimer By reading these materials, you agree to be bound by the following limitations: This document is strictly confidential, is not for public dissemination and is for the exclusive use of the persons who are authorized to receive this document. This document is being made available by Modern