New stock news | Rui Pai Pet Hospital's Hong Kong IPO prospectus failed to take effect

Ruipai Pet Hospital Management Co., Ltd. (hereinafter referred to as Ruipai Pet Hospital) submitted its Hong Kong IPO prospectus on December 22, 2025, which expired after 6 months on June 22, 2026, with CICC as its exclusive sponsor at the time of submission. According to the prospectus, Ruipai Pet Hospital is a nationwide chain of pet medical institutions dedicated to providing high-standard diagnosis and treatment as well as full lifecycle health management services to pet owners and their pets, with a focus on professionalism, dedication, and expertise. As a pioneer and leader in the nationwide chain of pet medical institutions, the company was the first to establish a nationwide chain of pet medical networks in China and pioneered the veterinarian development partnership model, becoming the soul of the Ruipai co-creation and sharing mechanism, aiming to bring together, motivate, and cultivate a large number of high-level veterinary teams in China. According to the Zhushi Consulting Report, as of June 30, 2025, with a total of 548 operating pet hospitals, including 120 self-built hospitals and 428 acquired hospitals spread across mainland China and Hong Kong, covering approximately 70 cities in 28 provinces, the company became the second largest pet medical service provider in China. According to the Zhushi Consulting Report, as of June 30, 2025, the company was the only enterprise among national large-scale chain pet hospital service providers to achieve net profit. With 14 years of development and continuous optimization, the company has established a mature pet hospital management system and profit model, demonstrating its ability to maintain excellent operational efficiency during the process of expansion.