瑞派宠物医院递表港交所 为中国第二大宠物医疗服务提供商

Company Overview - Ruipai Pet Hospital Management Co., Ltd. is a national chain of pet medical institutions in China, focusing on high-standard diagnosis and health management services for pets [4] - The company was founded in 2012 and is recognized as the first nationwide chain pet medical service provider in China, aiming to establish a standardized and replicable pet health management service system [4][5] - As of June 30, 2025, the company operates 548 pet hospitals, including 120 self-built and 428 acquired hospitals, making it the second-largest pet medical service provider in China [5] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 is approximately RMB 1.455 billion, RMB 1.585 billion, RMB 1.758 billion, and RMB 943 million respectively [6] - The total comprehensive income for the same periods shows losses of approximately RMB 61.86 million, RMB 250 million, RMB 0.7126 million, and a profit of RMB 15.28 million for the first half of 2025 [7] - The gross profit margins for the fiscal years are 22.4%, 21.0%, 22.2%, and 24.8% respectively, indicating an improvement in profitability [9] Industry Insights - The Chinese pet market is experiencing rapid growth, with the market size reaching RMB 300 billion in 2024 and projected to grow to RMB 602.5 billion by 2030 and RMB 1.1139 trillion by 2035, reflecting a compound annual growth rate (CAGR) of 12.3% and 13.1% respectively [10] - The pet medical sector is expected to grow from RMB 36.6 billion in 2024 to RMB 69.9 billion by 2030 and RMB 139.2 billion by 2035, with a CAGR of 11.4% and 14.8% [12] - High-tier cities in China account for 66.7% of pet hospitals and 75.8% of total revenue in the pet medical industry, with total revenue in these cities reaching RMB 27.8 billion in 2024 [14] Corporate Governance - The board of directors consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors, all elected by the shareholders [16] - The board is responsible for the management and operations of the company, holding general powers of management [16] Shareholding Structure - Dr. Li is the largest single shareholder, controlling approximately 26.91% of the company's issued share capital through Zhongrui Huapu and Ruipubio [19]