Saint Bella Group (2508) investor relations material

Executive summary

• H1 2026 revenue rose 36.0% YoY to RMB611.4m; adjusted net profit increased 56.2% to RMB60.6m, while reported profit fell 83.5% to RMB54.0m due largely to a prior-year one-off fair-value gain.

• Growth was driven by postpartum care expansion, acquisitions, rising average selling prices, home care and female nourishment; overseas revenue grew 244% and AI-agent services generated RMB6.9m.

Financial highlights

• Revenue increased from RMB449.5m to RMB611.4m; gross profit rose 30.8% to RMB221.2m, with gross margin down 1.4 percentage points YoY to 36.2%.

• Adjusted net profit rose 56.2% to RMB60.6m; adjusted net margin improved 1.3 percentage points to 9.9%.

• Reported net profit was RMB54.0m versus RMB326.9m; H1 2025 included a one-off, non-cash RMB318.2m fair-value gain on investor instruments that ceased affecting results after listing.

• Operating cash flow was RMB87.3m versus RMB12.1m; investing cash outflow was RMB197.5m, financing cash outflow RMB36.5m, and period-end cash RMB392.1m.

• Basic and diluted EPS were both RMB0.08, compared with RMB17.31 and RMB0.38, respectively, in H1 2025; prior-year EPS reflected the one-off fair-value gain and share-count changes.

Outlook and guidance

• H2 priorities are scaling postpartum care, expanding full-lifecycle women’s and home care services, growing internationally, and commercializing AI-enabled care; no specific financial targets were set out.

• Planned international openings and operations include London, Paris and Sydney, alongside further rollout in New York; premium hotel partnerships are intended to support brand reach and pricing.

• Plans include a Beijing full-lifecycle women’s-care flagship, broader women’s health food offerings, and continued development of age-specific childcare and “100 Day Walk” services.

• Expansion is to combine new-store growth with selective acquisitions of profitable regional maternal and infant care businesses, integrating acquired operations into standardized services and shared marketing systems.

• AI plans include applying Dr. Bella to postpartum meal planning, expanding smart-care hardware and IoT use with Yunji Technology, and offering AI services to the wider care industry.