[For Immediate Release]

Saint Bella, a Leading Brand in Maternity and Child Care Industry in China,

Completes RMB200 million C1 Round Financing Led by Tencent

22 April 2021－Saint Bella and its parent company Primecare International announced that it has recently completed a C1 round financing of RMB200 million. Tencent led the investment in this round, and Gaorong Capital continued to follow suit. Breaking the record, it became the largest single financing in the maternity and child care service industry. Saint Bella has completed four rounds of financing, and its shareholders includes top enterprises and investment institutions such as Tencent Investment, Gaorong Capital, Sun Hung Kai & Co. Limited (SEHK: 86), Tangzhu Capital, and Zheshang Health Investment.

Founded in 2017, Primecare International is committed to providing better maternity and child care services for the new generation of families. As the only brand that cooperates with global luxury hotels, its high-luxury maternity care brands, led by Saint Bella, integrate arts therapy with a 24-hour one-to-one nursing mode, occupying the cognitive choice and user mind of more than 90% of the domestic high-end users.

Starting with the high-luxury maternity and child care brands, Primecare International has completed its national layout and expanded its upstream and downstream business in four years. Its sub-brands include BabyBELLA, a light luxury brand, and Beihujia, a home-based brand, whose services cover pregnancy care, maternity care, home care, and online health management. It has become a lifestyle brand of more care service categories and continues to maintain annual growth of 300% in its business line. Saint Bella and BabyBELLA have rapidly covered the core business districts in the first and second-tier cities, and have established long-term exclusive cooperation with Rosewood Hotel, Peninsula Hotel, Park Hyatt Hotel, Waldorf Astoria Hotel and their groups, achieving an average occupancy rate of more than 85%.

According to the "2016-2022 China Maternity and Child Care Center Industry Research and Investment Prospect Analysis Report" released by the Industry Information Network, the market scale of China's maternity and child care centers in 2020 is approximately RMB15 billion, with a compound annual growth rate of 42.45%. From 2013 to 2018, the number of maternity and child care centers in China increased by more than seven times, from 550 to 4,050. The penetration rate of maternity and child care centers in first-tier cities continued to rise above 20%, and the demand of prefecture-level cities also increased year by year. Based on the data provided by the Foresight Industry Research Institute, the market scale of China's maternity and child care centers will reach nearly RMB190 billion in the future.

"We are optimistic about the development of China's maternity and child care industry," said Xia Yao, managing director of Tencent Investment. "Maternity and child care centers are becoming an important choice for China's new generation of mothers. The industry is ushering in a rapid increase in penetration rate. We are also seeing the increasingly important role of digitization in the maternity and child care services industry. Primecare International has successfully cultivated two high-end maternity and child care center brands, Saint Bella and BabyBELLA, built a mature maternity and child care service system with the help of WeChat mini-programs, and actively explored the possibility of more home care scenarios. Tencent will continue to help more offline service formats carry out operational and digital upgrades, and build a new industry ecosystem that connects users and businesses."

The project leader of Gaorong Capital said, "Gaorong Capital has been supporting the company since the first round of financing. On the one hand, we pre-judge the long-term evolution of the maternity and child care industry based on end-game thinking. On the other hand, we appreciate and recognize the spirit of continuous growth, progress, and exploration of the two founders. As a field where medical treatment and consumption are blended, tradition and modernity are alternated, there is a lot of space for unimaginable development for maternity and child care centers. We wish the company a new chapter, and expect Saint Bella to bring more happiness to Chinese mothers and make the maternity and child care a wishful time for them."

Saint Bella announced that the main purpose of this round of financing is to deepen the research and development of a digital intelligent back-end service system, upgrade customer service experience, introduce high-end talents and continuously expand market share. At the same time, it will work with authoritative institutions to promote the establishment of industry standards for maternity and child care service.

For more information about Saint Bella, please visit: www.stbella.cn.

For enquiries, please contact: coooffice@primecare.com.