Group 1 - The core viewpoint of the article highlights that Saint Bella is set to become the first global stock in quality family care as it prepares to list on the Hong Kong Stock Exchange, following successful hearings [1] - Saint Bella's revenue is projected to grow from 472 million to 799 million yuan from 2022 to 2024, with a compound annual growth rate of 30.15%, and a net profit increase of 103.43% in 2024 [2] - The company has established itself as the market leader in postpartum care and recovery in China, becoming the largest group in Asia in this sector [4] Group 2 - Saint Bella has developed a diversified service matrix since its establishment in 2017, covering various aspects of family care, including maternal and infant care, family parenting, women's health food retail, and wellness services [5] - The company has launched multiple brands targeting different market segments, such as "Saint Bella Maternal and Infant Care Center" for high-net-worth families and "baby bella" for young families [7] - Saint Bella's successful transformation into a comprehensive family care brand group is evidenced by its rising revenue and profits, positioning it well to capitalize on the growing family care service market [8]

Core Viewpoint - Saint Bella has officially received the CSRC filing notice, advancing its listing process on the Hong Kong Stock Exchange, and is expected to become the "first stock in family quality care" [3] Industry Overview - The postpartum care industry has seen rapid growth, with significant market potential. According to data from Sullivan, the market size of maternity centers in China is expected to reach 117.6 billion yuan by 2030, with a compound annual growth rate (CAGR) of 24% from 2024 to 2030. Currently, the market penetration rate is only 5.5%, and the market share of leading brands is just 2.4%, indicating a highly fragmented industry with vast development space [3] Company Business Model - Saint Bella is not a traditional postpartum care brand but has built a "full-cycle coverage" family care ecosystem. Its business encompasses maternal and infant care, family parenting, and women's health food retail, gradually constructing a comprehensive family care service system from pregnancy to postpartum, early childhood, and even elderly care. The flagship brand "Saint Bella Maternal and Infant Care Center" focuses on providing full-cycle care services for high-net-worth families, while "baby bella" targets young families as a preferred postpartum care brand. "Bella ISLA" emphasizes psychological healing for women throughout their life cycle. Additionally, Saint Bella has made acquisitions and investments to enhance its postpartum medical services and nutrition offerings, transitioning from "a meal of postpartum food" to "lifetime health" [4] Financial Performance - Financial data disclosed in the prospectus shows that Saint Bella's operational performance is strong. From 2021 to 2023, its sales increased from 390 million yuan to 775 million yuan, and revenue rose from 259 million yuan to 560 million yuan, with growth rates of 99% and 116%, respectively. In the first half of 2024, revenue continued to grow rapidly, reaching 358 million yuan, a year-on-year increase of 32%. By its seventh year in 2023, Saint Bella achieved profitability, with an adjusted net profit of 20.77 million yuan and an adjusted EBITDA of 61.4 million yuan, a 31-fold increase compared to the previous year. In the first half of 2024, adjusted net profit increased by 122.4% to 17.15 million yuan. Notably, Saint Bella's marketing costs are significantly lower than industry standards, with sales and distribution expenses accounting for only 12.65% of revenue in the first half of 2024, and advertising expenses making up just 7.90% of revenue, indicating a focus on human resources, high-end property leasing, new retail product costs, and R&D investments that enhance service experience and management optimization [5] Future Outlook - Saint Bella aims for long-term investment in service quality and future growth. In an era of consumer upgrading, family health services represent a promising sector. With professional services and an innovative business model, Saint Bella has gained recognition among high-net-worth families and is expected to further expand its market space while promoting a more standardized and regulated development of the family care industry. The listing is seen as a new starting point for the company, and if it continues to prioritize user experience and builds a digital and ecological moat, the future of Saint Bella looks promising [6]

Core Viewpoint - SAINT BELLA Inc. has received approval to initiate its IPO process in Hong Kong, aiming to become the "first stock in family quality care" in the Hong Kong market [1] Group 1: Financial Performance - SAINT BELLA achieved a net profit of 20.77 million yuan in 2023 and is projected to maintain profitability with a net profit of 17.15 million yuan in the first half of 2024, representing a 122.4% increase compared to the same period in 2023 [1] - Revenue figures for SAINT BELLA from 2021 to 2023 were 259 million yuan, 472 million yuan, and 560 million yuan, respectively, indicating a compound annual growth rate of 47.1% [1] - In the first half of 2024, SAINT BELLA's revenue reached 358 million yuan, a 32.0% increase from 271 million yuan in the same period of 2023 [1] Group 2: Market Position - According to a report by Frost & Sullivan, SAINT BELLA is the largest postpartum care group in China based on revenue from ultra-high-end confinement centers in 2023 [2] - SAINT BELLA is also recognized as the fastest-growing scaled postpartum care group in China from 2021 to 2023, with its revenue from postpartum care surpassing that of its main competitor in the first half of 2024 [2] Group 3: Business Strategy and Development - SAINT BELLA's growth and industry leadership can be attributed to its differentiated services targeting various consumer segments, from high-end to value-for-money offerings [4] - The company has expanded its service offerings beyond postpartum care, establishing a comprehensive family care ecosystem that includes brands like "baby bella" for young families and "Bella ISLA" for psychological healing [4][5] - SAINT BELLA has also ventured into the women's health functional food sector by acquiring Guanghetang, transitioning its sales focus from offline to online, resulting in a significant increase in online orders and gross margin [5] - The company has developed into a leading comprehensive family care brand group in Asia, covering multiple areas such as maternal and infant care, family parenting, and women's health food retail [5]