戚薇、唐艺昕等一众明星都曾入住！“月子界爱马仕”要上市了，3年半亏超12亿元

Core Viewpoint - Saint Bella Inc. has been approved to initiate its IPO process on the Hong Kong Stock Exchange, aiming to issue up to 192 million shares, despite facing significant financial losses in recent years [1][4]. Financial Performance - Revenue increased from RMB 258.762 million in 2021 to RMB 559.909 million in 2023, with a projected revenue of RMB 357.780 million for the first half of 2024 [5]. - The cost of sales rose from RMB 179.469 million in 2021 to RMB 355.298 million in 2023, leading to a gross profit increase from RMB 79.293 million to RMB 204.611 million during the same period [5]. - Despite revenue growth, the company reported substantial losses: RMB 1.22 billion in 2021, RMB 4.12 billion in 2022, RMB 2.39 billion in 2023, and an estimated RMB 4.80 billion for the first half of 2024, totaling RMB 12.53 billion in losses over these years [5]. Business Model and Market Position - Saint Bella specializes in high-end maternity care services, with packages starting at RMB 138,000 for 28 days, and premium offerings exceeding RMB 500,000, positioning itself as the "Hermès of maternity care" [4]. - The company was founded by Xiang Hua, who identified a market gap for high-end maternity centers after graduating from Oxford University [6]. Corporate Structure and Investments - Saint Bella is associated with Hangzhou Beikang Health Technology Group, established in September 2019, with a registered capital of RMB 3.26 million [6]. - The company has completed multiple rounds of financing, attracting investments from major players such as China Life, Tencent, and Gao Rong Capital [6][9].