Core Viewpoint - The global family care leader, Saint Bella, has officially launched its IPO process, aiming to raise capital in a booming Hong Kong market, with a share price set at HKD 6.58 and a total offering of 95.42 million shares [1][2]. Group 1: Investment Highlights - Saint Bella's IPO has attracted a prestigious lineup of cornerstone investors, including the Hangzhou government-backed Xiaoshan District Industrial Fund, marking a significant regional benchmark [2][6]. - The strategic investment from the high-end private medical group, Harmony Family, is expected to create synergies between its medical resources and Saint Bella's care system, potentially forming a "high-end care + specialized medical" ecosystem [2]. - The participation of major public fund, Huaxia Fund, further underscores the recognition of the company's long-term value by mainstream capital [3]. Group 2: Financial Performance - Saint Bella's revenue has shown robust growth, increasing from CNY 472 million in 2022 to CNY 799 million in 2024, representing a compound annual growth rate (CAGR) of 30.15%, significantly outpacing the industry average [8]. - The adjusted net profit has turned from a loss in 2022 to a profit of CNY 20.77 million in 2023, and is projected to reach CNY 42.26 million in 2024, with a year-on-year growth rate of 103.43% [9]. Group 3: Market Position and Strategy - As the first global family care company to go public, Saint Bella is positioned as a benchmark in the industry, redefining the market landscape [7]. - The company has innovatively developed a comprehensive service ecosystem covering the entire family care cycle, creating strong competitive barriers and first-mover advantages [8]. - The diversified business model, extending from core maternal and infant care to home care and postpartum rehabilitation, is expected to drive significant revenue growth through synergistic effects [8]. Group 4: Capital Market Dynamics - The dual backing of top-tier investment banks, CITIC Securities and UBS, provides strong credibility to Saint Bella's IPO process, with their previous IPOs averaging a first-day increase of 33.3% [4]. - The combination of innovative business models, validated financial data, and strategic resource aggregation positions Saint Bella to redefine the value standards in the global family care industry [11].

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