New Stock News | It is rumored that PUI Pet Hospital will launch its Hong Kong IPO NDR on January 29th.

On January 21st, the "Unicorn Early Knows" WeChat public account announced that Ruipai Pet Hospital will launch a Hong Kong IPO NDR (non-deal roadshow) on January 29th. According to the Hong Kong Stock Exchange, the company submitted its listing application to the main board of the Hong Kong Stock Exchange on December 22, 2025, with CICC as the exclusive sponsor. The prospectus shows that Ruipai Pet Hospital was founded in 2012 and is a national chain of pet medical institutions dedicated to providing high-standard diagnosis and full life cycle health management services for pet owners and pets with the mission of professionalism, dedication, and expertise. As a pioneer and leader in the national chain of pet medical institutions, Ruipai Pet Hospital was the first in China to establish a nationwide chain of pet medical networks and pioneered the Veterinary Development Partners (VDP) model, becoming the soul of the Ruipai co-creation and sharing mechanism, aimed at uniting, motivating, and empowering a large number of high-level pet veterinary teams in China. According to the Zhushi Consulting report, as of June 30, 2025, with a scale of 548 operating pet hospitals, the company has become the second largest pet medical service provider in China, including 120 self-built hospitals and 428 acquired hospitals, covering mainland China and Hong Kong, with around 70 cities in 28 provinces. According to the Zhushi Consulting report, as of June 30, 2025, the company is the only enterprise among the national large chain pet hospital service providers to achieve net profit. After 14 years of development and continuous optimization, the company has formed a mature pet hospital management system and profit model, demonstrating its ability to maintain excellent operational efficiency in the process of expansion. Financially, for the fiscal years 2022, 2023, 2024, and for the six months ending June 30, 2025, the company's revenues were approximately RMB 1.455 billion, RMB 1.585 billion, RMB 1.758 billion, and RMB 943 million respectively. During the same period, the net comprehensive income/(loss) amounted to approximately -RMB 61.863 million, -RMB 250 million, -RMB 7.126 million, and RMB 15.277 million.