Core Viewpoint - Saint Bella Limited, a high-end maternal and infant care company, officially listed on the Hong Kong Stock Exchange on June 26, becoming the "first stock in global family quality care" [1] Group 1: IPO and Initial Performance - The company issued 109.733 million shares globally, with the Hong Kong public offering oversubscribed by 193 times, resulting in the sale of 47.71 million shares [1] - The international offering was oversubscribed by 15.59 times, leading to the sale of 62.024 million shares [1] - The issue price was set at HKD 6.58 per share, raising approximately HKD 722 million [1] - On the first trading day, the stock opened at HKD 8.45, a 28.4% increase from the issue price, reaching a peak of HKD 11.00 before closing at HKD 8.80 [1] - By June 27, the stock price dropped significantly, with a single-day decline of 25.6%, and continued to fall to as low as HKD 6.08 in subsequent trading days [1] Group 2: Post-IPO Stock Performance - As of the latest closing date, the stock price had slightly recovered to HKD 7.27, but daily trading volume decreased from over 8.57 million shares to less than 3 million shares [2] - The company's market capitalization is approximately HKD 44.33 billion, down nearly HKD 1 billion from the first day [2] Group 3: Investment and Financing History - Prior to the IPO, Saint Bella completed seven rounds of equity financing, raising a total of approximately HKD 333 million from 15 institutional investors [2] - The company was valued at nearly HKD 3 billion after the C-3 round of financing in November 2022 [2] - World Trade Center Association (China) Services Limited achieved a return of 21.54 times on its investment after exiting in April 2022 [2] Group 4: Institutional Investor Returns - Notable returns were reported by various investors, with Tang Zhu Capital and its partners achieving returns of 184.2% to 322.9% [3] - High Yong Venture Capital's overall investment return was approximately 751.4% after multiple rounds of investment [3] - Tencent Investment, as the largest external shareholder, saw a floating profit of 138.2% on its investment [4] Group 5: Financial Performance and Challenges - The company reported cumulative losses of nearly HKD 1.2 billion from 2022 to 2024, with a projected net loss of HKD 543 million for 2024 [6] - The main business model relies heavily on high rental and labor costs, which account for nearly 70% of total costs, squeezing profit margins [6] - The occupancy rate for the company's maternity centers dropped from 92% in 2023 to 82% in 2024, indicating a significant decline in demand [6]
圣贝拉股价“过山车”：高榕创投综合账面回报超8倍 58系神骐资本陪跑三年仅浮盈12%