Wecare Probiotics Files for Hong Kong IPO

Wecare Probiotics Co. , a Suzhou-based developer and manufacturer of probiotic strains, filed last week for an initial public offering in Hong Kong. Haitong International is acting as the listing's sole sponsor. The filing indicates a mid-sized offering that is likely to raise less than $100 million.

The company ranked third globally and first in Asia by probiotic raw powder production volume in 2025, according to third-party research cited in its listing document. Large amounts of its production capacity remained idle last year. Wecare develops and sells probiotic strains, which are microorganisms used to assist digestion and combat certain diseases.

Its products are mainly used in functional foods, dietary supplements, dairy products, agriculture and other sectors. The company generates most of its revenue from the sale of probiotic powder and from processing such powder into probiotic formulations based on customer requirements.

Wecare's core strength lies in its integrated capabilities that combine product development and manufacturing.

Wecare reported that its overseas sales have grown steadily to contribute 40.2% of revenue last year. The company has attracted a diverse group of investors, including industrial capital, state-backed funds and market-oriented investment institutions. Founded in 2013, the firm maintains a proprietary strain bank that supports its mass production of probiotic powder.

Growing health consciousness among global consumers has increased demand for probiotics. China has emerged as one of the world's largest markets for these products. Upstream manufacturers like Wecare focus on strain research and production to supply raw materials to makers of yogurt, supplements and other finished goods.