Core Viewpoint - The stock price of Saint Bella (02508.HK), known as the "Hermès of postpartum care," has been consistently below its IPO price, reflecting ongoing challenges in the high-end maternity care market despite initial capital support and a recent shift towards profitability [1][2][6]. Group 1: Company Background - Saint Bella was founded in 2017 by entrepreneurs Xianghua and Lin Wanyi, targeting a gap in the high-end maternity care market in China, particularly after the "two-child" policy was implemented [2][3]. - The company has received significant backing from notable investors, including Tencent and other prominent institutions, completing 10 rounds of financing before its IPO [3][4]. Group 2: Financial Performance - From 2021 to 2024, Saint Bella reported revenues of 259 million, 472 million, 560 million, and 799 million yuan, respectively, while incurring cumulative losses of 1.19 billion, 4.07 billion, 2.39 billion, and 5.47 billion yuan [8]. - In the first half of 2025, the company achieved a net profit of 327 million yuan, largely due to a 318 million yuan gain from the fair value change of financial instruments issued to investors [8]. Group 3: Market Position and Services - Saint Bella operates 113 stores globally as of August 2025, offering high-end postpartum care services through its brands, including Saint Bella, Aiyu, and Xiaobella, catering to different market segments [6][8]. - The company is recognized for its premium pricing, with packages reaching up to 1.048 million yuan for a 56-day stay, attracting high-profile clients such as celebrities [7][8]. Group 4: Strategic Initiatives - Saint Bella is actively expanding internationally, having entered the U.S. market with locations in California and New York, and is leveraging AI technology to enhance its service offerings [8][9]. - The company has implemented a "partner store plan," which has significantly increased the number of managed maternity centers, contributing to a 159.6% year-on-year revenue growth from these locations [8].
“月子界爱马仕”圣贝拉扭亏股价仍破发 曾四年亏13亿探索海外市场难奏效