Core Viewpoint - CITIC Securities initiates coverage on Saint Bella (02508) with a "Buy" rating, highlighting its position as the largest family care group in China and its potential for growth in the high-end maternity center market [1] Company Overview - Saint Bella operates several brands including Saint Bella, Little Bella, and Ai Yu, focusing on high-tier cities in China while gradually expanding globally [1] - The company holds the top market share in the family care industry, benefiting from the trend of smaller family structures and increasing self-care demands among women [1] Growth Potential - The report emphasizes that Saint Bella's luxury brand positioning, standardized professional services, and diverse brand matrix provide significant growth potential [1] - Single-store revenue is expected to increase, with clear opportunities for domestic and international store openings, driving both revenue and profit growth [1] Business Development - Family care services and food retail businesses have shown positive growth trends in recent years, which may further enhance the company's growth potential through synergies with maternity centers [1]