Core Viewpoint - Saint Bella Group, the first publicly listed company in the global home care sector, has successfully delivered impressive performance despite macroeconomic pressures and declining birth rates, showcasing its resilience and growth potential [1] Group 1: Policy and Market Dynamics - The national childcare subsidy policy, announced in July, is expected to boost retail sales of consumer goods by approximately 0.14-0.2 percentage points, benefiting the maternal and infant industry [2] - The postpartum care and recovery industry in China is projected to grow to RMB 793 billion by 2025, with a compound annual growth rate (CAGR) of 20.4% from 2025 to 2030 [2] Group 2: Company Performance - In the first half of 2025, Saint Bella Group reported total revenue of RMB 5.23 billion, a year-on-year increase of 35.0%, with a net profit of RMB 3.27 billion, marking a significant turnaround [3] - The company expanded its operational scale, with entrusted management center revenues reaching RMB 730 million, a 160% increase year-on-year, and a total of 113 stores globally, adding 36 new stores in the first half of 2025 [3] Group 3: Operational Efficiency and Growth Strategy - Saint Bella operates three main business segments: maternity centers, home care services, and food products, with a focus on enhancing operational efficiency and customer satisfaction through a self-developed SaaS system and AI technology [4] - The customer referral rate increased to 40.2%, contributing to a reduction in marketing costs, with marketing expenses decreasing to 12.0% and management expenses to 22.1% [4] Group 4: Strategic Expansion and Future Outlook - The home care service segment saw a revenue increase of RMB 38.6 million, up 41.7% year-on-year, while the health food brand "Guanghetang" achieved a revenue growth of 10.6% with a gross margin of 72.4% [5] - Saint Bella is transitioning from a maternity center operator to a health management enterprise driven by data intelligence, aiming to meet the health needs of women and families throughout their life cycle [6]

Core Viewpoint - Saint Bella Group, the first publicly listed company in the global home care sector, has reported impressive financial results despite macroeconomic pressures and declining birth rates, showcasing its resilience and growth potential [1] Group 1: Policy and Market Dynamics - The introduction of the national childcare subsidy policy is expected to boost retail sales growth in the consumer goods sector by approximately 0.14-0.2 percentage points [2] - The postpartum care and recovery industry in China is projected to grow significantly, with estimates suggesting a market size of RMB 793 billion by 2025 and a compound annual growth rate (CAGR) of 20.4% from 2025 to 2030 [2] Group 2: Company Performance - In the first half of 2025, Saint Bella Group reported total revenue of RMB 5.23 billion, a year-on-year increase of 35.0%, with a net profit of RMB 3.27 billion, marking a significant turnaround [3] - The company expanded its operational scale, with revenue from entrusted management of maternity centers reaching RMB 73 million, a 160% increase year-on-year, and a total of 113 stores globally, adding 36 new stores in the first half of 2025 [3] Group 3: Business Strategy and Efficiency - Saint Bella operates three main business segments: maternity center services, home care services, and food products, with a focus on enhancing operational efficiency and customer service quality through a self-developed SaaS system and AI technology [4] - The customer referral rate increased to 40.2%, contributing to improved operational efficiency and reduced marketing costs, with marketing expenses decreasing to 12.0% and management expenses to 22.1% [9] Group 4: Future Growth and Market Position - The home care service segment saw a significant revenue increase of 41.7% year-on-year, with a gross margin of 36.5% [9] - The health food brand "Guanghetang," acquired in 2021, has optimized its product line and achieved a revenue growth of 10.6% in the first half of 2025, maintaining a market share of over 60% in its category [10] - Analysts predict continued growth for Saint Bella, with revenue forecasts of RMB 11.04 billion, RMB 14.80 billion, and RMB 19.57 billion for 2025 to 2027, driven by its unique service model and digital investments [10]

Group 1 - The latest list of key companies planned for listing in Hangzhou includes 315 firms across various sectors such as biomedicine, digital economy, high-end manufacturing, and modern services [1][2] - Notable companies on the list include traditional brands like Hu Qing Yu Tang and Zhejiang Salt Industry Co., as well as industry leaders like Zhejiang Long Aviation and Hikvision Robotics [1][2] - Emerging tech companies from the "Hangzhou Six Little Dragons," such as Qunhe Information and Yunsenshu Technology, are also included in the updated list [1][2] Group 2 - The technology and medical sectors are highlighted as two major areas with a significant number of promising companies, including Qunhe Information Technology and WeDoctor, a digital health unicorn [2] - Hu Qing Yu Tang, a century-old brand, and several other medical firms like Nucleon Health and Sugarji Medical are also part of the growing biomedical landscape in Hangzhou [2] Group 3 - The Hangzhou government has been actively promoting the capital market, launching initiatives like the "Phoenix Action Plan" to support strategic emerging industries [3] - By mid-2024, the Hangzhou Innovation Fund and other related funds had approved a total fund size of 170.6 billion yuan, investing in 1,580 projects and 2,600 companies, with over 90% of the funding directed towards private enterprises [3] Group 4 - As of July 15, there are 234 listed companies in Hangzhou, with 20 companies having a market capitalization exceeding 30 billion yuan [4] - The Binjiang District is home to the highest number of listed companies, accounting for 19.7% of the total, while other districts like Xihu and Yuhang also contribute significantly [4] - Four Hangzhou companies, including Zhongce Rubber and Xinkai Technology, successfully went public on the A-share market this year, with Zhongce Rubber achieving a market value close to 50 billion yuan shortly after its IPO [4] Group 5 - The Hong Kong capital market is increasingly attracting Hangzhou companies, with 63 firms listed as of July 15 [6] - Recent listings include Saint Bella, which became the first global family quality care stock, and TIDE Pharmaceutical, which debuted on the Hong Kong Stock Exchange [6] - Several other Hangzhou companies are in the process of applying for listings on the Hong Kong Stock Exchange, indicating a growing trend of companies seeking opportunities in this market [6]

Core Viewpoint - Saint Bella, the largest postpartum care and recovery group in Asia and China, has launched its global IPO, with significant interest from long-term and healthcare funds, indicating strong market confidence in the company [1][4]. Group 1: IPO Details - The global offering consists of 95.42 million shares, with 9.542 million shares available for public sale in Hong Kong and 85.878 million shares for international placement [1]. - The offering price is set at HKD 6.58 per share, aiming to raise approximately HKD 628 million, resulting in a post-IPO valuation of HKD 3.918 billion [1][10]. - The IPO subscription period ends on June 23, 2023, with plans for listing on the Hong Kong Stock Exchange on June 26, 2025 [1]. Group 2: Key Investors - Seven cornerstone investors have been introduced, collectively subscribing for USD 41.5 million (approximately HKD 325.3 million), including notable firms like Huaxia Fund and GIMM [3][4]. - The presence of both domestic leading fund companies and local state-owned enterprises among the cornerstone investors reflects strong recognition of the company's market position and performance [4]. Group 3: Business Overview - Founded in 2017, Saint Bella operates 96 high-end postpartum care centers, including 62 self-operated and 34 managed centers, making it the largest in Asia and China [5][6]. - The company has expanded its network rapidly, adding 11, 7, and 34 centers in 2022, 2023, and 2024, respectively [6][7]. Group 4: Financial Performance - Revenue for Saint Bella has shown significant growth, with figures of CNY 472 million, CNY 560 million, and CNY 799 million for 2022, 2023, and 2024, respectively, reflecting a compound annual growth rate of 30.1% [8][9]. - The growth is driven by the expansion of postpartum care services and the introduction of new products, with approximately 84% of postpartum care clients also utilizing other services [8]. Group 5: Future Plans - The company plans to open 55 new postpartum care centers from 2025 to 2029, focusing on acquisitions and organic growth to enhance market presence [11]. - Investment in AI technology is a priority, with plans to integrate AIoT devices to improve service delivery and customer experience [12].

Core Viewpoint - The article provides an overview of recent IPO activities in the Hong Kong, U.S., and A-share markets, highlighting key companies and their financial performances. Group 1: YingShi Innovation - YingShi Innovation Technology Co., Ltd. officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 11, 2025, with a fundraising scale of 1.938 billion yuan, ranking first in the Sci-Tech Innovation Board and third overall in the Shanghai Stock Exchange for 2025 [3] - The company specializes in panoramic technology and has a global market share of 67.2% in the panoramic camera sector, expected to rise to 81.7% in 2024 [5] - The founder emphasized the company's mission to help people better record and share life, aiming to become a world-class smart imaging brand [5] Group 2: CaoCao Inc. - CaoCao Inc. has passed the Hong Kong Stock Exchange hearing and is one of China's largest ride-hailing platforms, covering 136 cities as of December 31, 2024 [7] - The company's total Gross Transaction Value (GTV) for 2023 and 2024 was 12.2 billion yuan and 17 billion yuan, respectively, showing growth rates of 37.5% and 38.8% [7][8] - In Q1 2024, CaoCao's GTV reached 4.8 billion yuan, a 54.9% increase year-on-year [9] Group 3: YunZhiSheng - YunZhiSheng Intelligent Technology Co., Ltd. has passed the Hong Kong Stock Exchange hearing and is positioned to become the "first AGI stock" in Hong Kong [11] - The company has developed a large language model, ShanHai, which scored 82.2 in the MedBench evaluation, ranking first [13] - From 2022 to 2024, YunZhiSheng's revenue grew from 601 million yuan to 939 million yuan, with a compound annual growth rate of 25% [14] Group 4: Saint Bella - Saint Bella Inc. has passed the Hong Kong Stock Exchange hearing and operates 96 high-end maternity centers, making it the largest postpartum care group in Asia [17][18] - The company's revenue increased from 472 million yuan in 2022 to 799 million yuan in 2024, with a significant growth rate [18] - In 2023, Saint Bella achieved profitability with an adjusted net profit of 20.77 million yuan, further increasing to 42.25 million yuan in 2024 [18]

Group 1: IPO Dynamics - YingShi Innovation Technology Co., Ltd. officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 11, 2025, with the stock code "688775," becoming the "first stock in intelligent imaging" in A-shares [2][3] - The fundraising scale for YingShi Innovation's listing is 1.938 billion yuan, ranking third in overall fundraising on the Shanghai Stock Exchange this year and first on the Sci-Tech Innovation Board [3] - YingShi Innovation, established in 2015, focuses on the research, production, and sales of intelligent imaging devices, including panoramic cameras and action cameras [4] Group 2: Market Position and Growth - YingShi Innovation's brand "Insta360" holds a global market share of 67.2% in the panoramic camera sector in 2023, expected to rise to 81.7% in 2024 [6] - CaoCao Inc., a ride-hailing platform established in 2015, has become one of China's largest ride-hailing platforms, covering 136 cities by the end of 2024, with a total GTV of 12.2 billion yuan in 2023 and 17 billion yuan in 2024, reflecting growth rates of 37.5% and 38.8% respectively [9][10] - CloudWalk Technology Co., Ltd. is set to become the "first AGI stock in Hong Kong," having developed a large language model called "ShanHai" with 60 billion parameters, achieving a comprehensive score of 82.2 in the MedBench evaluation [17][18] Group 3: Financial Performance - CaoCao's revenue from 2022 to 2024 was 7.631 billion yuan, 10.668 billion yuan, and 14.657 billion yuan, with a gross margin of 8.1% in 2024, up from 5.8% in 2023 [12] - CloudWalk's revenue for the same period was 600 million yuan, 727 million yuan, and 939 million yuan, with a compound annual growth rate of 25.0% [19] - Saint Bella Inc. reported revenues of 472 million yuan, 560 million yuan, and 799 million yuan from 2022 to 2024, achieving a net profit of 42.25 million yuan in 2024 [26][27]

Core Viewpoint - SAINT BELLA Inc. is the first postpartum care center operator in mainland China to expand outside the region, with a significant presence in high-end maternity care services and a growing international footprint [2][3]. Group 1: Company Overview - SAINT BELLA Inc. operates under the brands of Saint Bella, Bella Isla, and Xiao Bella, with a total of 96 high-end postpartum care centers as of June 3, 2025, including 62 self-operated and 34 managed centers [2]. - The company has expanded its international presence by opening its first management center in Hong Kong in January 2022, a self-owned center in Singapore in October 2023, and a management center in the Greater Los Angeles area in May 2024 [3]. Group 2: Business Segments - In addition to postpartum care centers, SAINT BELLA offers family care services under the "Yu Jia" brand and functional health foods for women, having acquired the "Guang He Tang" brand in October 2021 [4]. - Approximately 84% of postpartum care service clients also paid for other services or products from SAINT BELLA in the first four months of 2024, indicating a strong customer retention and lifecycle value [4]. Group 3: Financial Performance - The revenue for SAINT BELLA from 2022 to 2024 was reported as 472 million, 560 million, and 799 million yuan respectively [5]. - The total contract value for all business lines from 2022 to 2024 was 589 million, 776 million, and 976 million yuan, with self-operated postpartum care center contracts valued at 500 million, 640 million, and 760 million yuan [5]. - The company achieved a turnaround in 2023 with an adjusted net profit of 20.77 million yuan, which is expected to increase to 42.25 million yuan in 2024 [6]. Group 4: Investment and IPO Plans - SAINT BELLA has received investments from notable institutions including Tencent, Gao Rong Capital, and others, with Tencent and Gao Rong holding 11.6% and 8.3% of shares respectively prior to the IPO [7][8]. - The funds raised from the IPO will be primarily used for expanding the postpartum care network, opening new centers, integrating competitors, launching new services and products, recruiting and training family care experts, and developing IT platforms to enhance operational efficiency [8].

Core Viewpoint - Saint Bella is positioning itself as a leader in the postpartum care and recovery industry, aiming to become the "first global family quality care stock" through a differentiated business model and strong financial performance [1][4]. Group 1: Market Position - Saint Bella holds the top position in the postpartum care and recovery sector in Asia and China, with a market share of approximately 1.2% based on projected 2024 revenues [2]. - The company is recognized as the fastest-growing large-scale postpartum care and recovery group in China, leading the industry in revenue growth rates from 2022 to 2024 [2][7]. - Saint Bella is the first operator in the mainland to expand its postpartum care centers beyond China, establishing a global service network [3]. Group 2: Business Model - The company has developed a comprehensive service ecosystem that covers prenatal, postpartum, and family childcare, moving beyond the traditional single-service model [3]. - The business model consists of three stages: 1. Establishing a foundation of professional care with a tiered service design [3]. 2. Extending care services into home settings to meet ongoing needs after hospital discharge [3]. 3. Creating a health consumption ecosystem with high-end health food brands focused on women's nutrition [3]. Group 3: Financial Performance - Saint Bella's revenue has shown strong growth, with figures of 472 million, 560 million, and 799 million yuan from 2022 to 2024, reflecting a compound annual growth rate (CAGR) of 30.15% [7]. - The company has diversified its revenue streams, with nearly 30% of total income in 2024 coming from services outside postpartum care, indicating reduced reliance on a single business line [7]. - The gross profit has also expanded, with gross profits of 141 million, 205 million, and 270 million yuan from 2022 to 2024, achieving a CAGR of 38.42% [8]. - Adjusted net profits have doubled over two years, reaching 42.26 million yuan in 2024, with a year-on-year growth rate of 103.43% [8][12]. Group 4: Strategic Outlook - Saint Bella's strategy of integrating professional care, home settings, and health consumption is redefining industry standards and creating competitive barriers [4]. - The company is expected to accelerate its global expansion, potentially becoming a representative of Chinese family care solutions on the world stage [12].

Company Overview - SAINT BELLA INC. (圣贝拉) has received IPO registration approval from the China Securities Regulatory Commission, with UBS Group and CITIC Securities as joint sponsors [4] - The company plans to issue up to 192 million overseas listed ordinary shares and list on the Hong Kong Stock Exchange [4] - SAINT BELLA is a leading home care brand group in China specializing in postpartum care and recovery services, offering a range of high-quality services and products [4] Market Position - According to a report by Frost & Sullivan, SAINT BELLA is the largest postpartum care and recovery group in China based on revenue from high-end confinement centers in 2023 [4] - It is also recognized as the fastest-growing scaled postpartum care and recovery group in China, with a revenue growth rate from 2021 to 2023 [4] - As of 2023, SAINT BELLA ranked second among all postpartum care and recovery groups in China, holding approximately 1.0% market share based on revenue from confinement centers [4] Financial Performance - The company's revenue for the years 2021, 2022, and 2023 was RMB 258.76 million, RMB 471.52 million, and RMB 559.09 million, respectively [5] - For the first half of 2024, the revenue was RMB 357.78 million, indicating a significant increase compared to the same period in 2023 [5] - The net losses for the years 2021, 2022, and 2023 were RMB 122.40 million, RMB 411.58 million, and RMB 238.89 million, respectively, with a loss of RMB 479.87 million reported for the first half of 2024 [6] Leadership - The board of directors consists of five members, including one executive director, one non-executive director, and three independent non-executive directors [7] - Xiang Hua serves as the founder, chairman, executive director, and CEO, responsible for the overall business direction and strategy development [8] - Xiang Hua has a background in mergers and acquisitions and capital markets, particularly in the healthcare services and medical equipment sectors [9]

中国最大的产后护理及修复集团 。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 根据弗若斯特沙利文报告，2023年圣贝拉拥有中国最大的高端月子中心网络，且就收入而言，圣贝 拉在杭州和上海等多个城市拥有领先市场份额。 此外，通过于2022年1月在香港增设第一家管理中心、于2023年10月在新加坡增设了第一家自有海 外中心以及于2024年5月在美国大洛杉矶地区增设第一家管理海外中心， 圣贝拉扩大了全球影响 力，成为中国内地首家拓展中国内地以外地区的月子中心运营商 。 除月子中心外，圣贝拉另有家庭护理服务和女性健康功能性食品两大业务——前者为2018年推出的 「予家」品牌，其可按定制化基础解决客户的特殊家庭护理需求并拓展客户的生命周期价值；后者则 据IPO早知道消息，SAINT BELLA Inc.（以下简称"圣贝拉"）于2024年12月31日更新招股书，继 续推进港交所主板上市进程，瑞银集团和中信证券担任联席保荐人。 2017年11月，首家圣贝拉月子中心在杭州开业。截至2024年12月21日，圣贝拉在圣贝拉、Bella Isla及小贝拉品牌名下拥有72家高端月子中心，包括 ...