Established in 2013, Shenzhen-based New Ruipeng Pet is a specialist in providing medical care for animals. Capitalising on the new craze for keeping pets in China, the company has set up more than 1,400 animal clinics around the country. It also offers pet food, pet beauty solutions and other products.
In 2020 an investment round led by Tencent valued the company at around Rmb30 billion ($4.4 billion). It saw participation from two other strategic investors – real estate developer Country Garden’s investment unit Country Garden Venture Capital and global pharmaceutical giant Boehringer Ingelheim.
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