New Ruipeng Pet Healthcare Group Seeks IPO on Nasdaq

Consumer Discretionary Author: Peilin He Editor: Yiran Xing Jan 29, 2023 03:08 PM (GMT+8)

The pet healthcare segment sees the most outstanding performance in China's booming pet economy, with its market leader seeking a U.S. IPO rollout.


New Ruipeng Pet Healthcare Group (RPET, Chinese: 新瑞鹏宠物医疗集团) recently filed for an IPO on Nasdaq. Proceeds will be used to improve pet healthcare services, branding strategy, and research and development.

RPET is the largest pet care platform in China and the second largest globally in terms of the number of hospitals and revenue from pet care services in both 2020 and 2021, according to Frost & Sullivan. It was founded in 1993 and opened the first pet clinic in Shenzhen in 1998. RPET's products and services cover pet healthcare, foster care, bathing, SPA, beauty, pet food, entertainment, and leisure services. The Group has more than 1900 pet clinics in over 100 cities across China.

RPET achieved revenues of CNY 3 billion, CNY 4.78 billion and CNY 4.32 billion respectively in 2020, 2021 and the first three quarters of 2022, with a loss of CNY 1 billion, CNY 1.31 billion and CNY 1.11 billion. In the above-mentioned three periods, pet medical care contributed to 68.3%, 62.2% and 52.9% of the revenues. Revenues in Q1-Q3 2022 saw a 26.9% growth compared to those of the same period in 2021.