Core Insights - Saint Bella, known as the "Hermès of postpartum care," has seen its stock price hit a record low of 3.71 HKD since its listing, before rebounding to close at 4.08 HKD, reflecting ongoing volatility in the market [1] - Despite a slight improvement in financial performance in the first half of 2025, the stock has consistently traded below its IPO price of 6.58 HKD, indicating investor skepticism [1][4] Company Performance - Saint Bella's revenue has shown steady growth from 2.59 billion RMB in 2021 to an expected 7.99 billion RMB in 2024, but the company has faced continuous losses totaling 13.16 billion RMB over the same period [4] - In the first half of 2025, the company reported a revenue of 5.23 billion RMB, a 35% increase year-on-year, with a net profit of 3.27 billion RMB, marking a significant turnaround [4] Market Position - The company holds approximately 1.2% market share in China's postpartum care sector, with high-end packages priced between 168,800 RMB and 1,048,000 RMB [3] - The average contract value per night for Saint Bella's services has increased gradually from 6,726 RMB in 2021 to an expected 7,015 RMB in 2024, indicating a premium positioning in the market [3] Regulatory Challenges - Saint Bella has faced multiple regulatory penalties, including fines for unlicensed medical practices and non-compliant advertising, which may impact its reputation and operational stability [5]
股价长期破发再创新低，“月子界爱马仕”怎么了？