大消费概念持续活跃 丽人丽妆3连板 智通财经5月19日电，午后大消费概念持续活跃，医美、宠物经济方向领涨，丽人丽妆走出3连板，拉芳 家化、源飞宠物涨停，天元宠物、锦波生物、百龙创园、路斯股份股价创出历史新高。消息面上，据粤 开证券统计，国内消费医疗对应万亿级市场规模。医美领域市场规模预计2025年达到3529亿元。 ...

证券代码：832419 证券简称：路斯股份 公告编号：2025-040 山东路斯宠物食品股份有限公司 2024 年年度股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 5 月 15 日 2.会议召开地点：公司会议室 3.会议召开方式：本次会议采用现场投票和网络投票相结合方式召开，同一 表决权只能选择现场、网络中的一种 4.会议召集人：董事会 其中通过网络投票参与本次股东会的股东共 0 人，持有表决权的股份总数 0 股，占公司有表决权股份总数的 0.0000%。 （三）公司董事、监事、高级管理人员出席或列席股东会情况 1.公司在任董事 7 人，出席 7 人； 2.公司在任监事 3 人，出席 3 人； 3.公司董事会秘书出席会议； 公司部分副总经理列席会议。 二、议案审议情况 5.会议主持人：郭百礼先生 6.召开情况合法合规的说明： 本次会议的召开符合《公司法》等法律、法规及公司章程的有关规定，且不 需要相关部门的批准 ...

上海市广发律师事务所 关于山东路斯宠物食品股份有限公司 2024 年年度股东会的法律意见书 致：山东路斯宠物食品股份有限公司 山东路斯宠物食品股份有限公司（以下简称"公司"）2024 年年度股东会 于 2025 年 5 月 15 日在山东路斯宠物食品股份有限公司会议室召开。上海市广发 律师事务所经公司聘请，委派邵彬律师、孙薇维律师出席现场会议，根据《中华 人民共和国公司法》（以下简称"《公司法》"）、《上市公司股东会规则》（以 下简称"《股东会规则》"）等法律法规、其他规范性文件以及《山东路斯宠物 食品股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次股东会 的召集和召开程序、召集人及出席会议人员的资格、会议议案、表决方式和表决 程序、表决结果和会议决议等出具本法律意见书。 为出具本法律意见书，本所律师对本次股东会所涉及的有关事项进行了审查， 查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 公司已向本所保证和承诺，公司向本所律师所提供的文件和所作的陈述和说 明是完整的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且一 切足以影响本法律意见书的事实和文件均已向本所披露，而无任何隐瞒 ...

Group 1: Investor Relations Activity - The investor relations activity was an earnings briefing held on May 6, 2025, from 15:00 to 17:00 [3] - The event was conducted online, allowing investors to participate remotely [3] - Key company representatives included the General Manager, Vice General Manager, and Board Secretary [4] Group 2: Dividend Policy - The proposed cash dividend for the 2024 fiscal year is CNY 1.00 per 10 shares (including tax) [4] - The dividend plan considers the company's profitability, capital expenditure, and debt repayment capacity [4] - The company aims to enhance the timeliness of cash dividends while focusing on long-term investor returns and future growth [4] Group 3: Raw Material Price Management - The company plans to strengthen supply chain management and develop quality suppliers to mitigate reliance on specific vendors [5] - A flexible procurement strategy will be implemented to adjust purchasing based on raw material price trends [5] - Increased R&D investment will focus on high-value products that can withstand raw material price fluctuations [5] Group 4: Market Growth and Challenges - Export revenue growth rates for 2024 and Q1 2025 were 16.6% and 33.3%, respectively, while domestic growth rates were 4.4% and -0.6% [6] - The decline in meat powder business revenue impacted domestic growth; excluding this, domestic pet food business grew by 21.3% and 14.7% [6] - The company recognizes the need to improve brand positioning and sales expense allocation due to low gross margins in staple products [6] Group 5: Strategic Initiatives - The company plans to adopt a multi-brand strategy and increase marketing expenses to enhance brand presence [7] - A new brand "Miaoguan" has been launched, focusing on high cost-performance products [7] - Continuous R&D efforts will aim to create differentiated products and improve customer retention and brand influence [7]

Core Insights - The company reported a revenue of 778 million yuan for 2024, marking an 11.68% year-on-year increase, with a net profit of 78.36 million yuan, up 14.57% [1] - The company achieved a revenue of 184 million yuan in Q1 2025, reflecting a 17.58% year-on-year growth, with a net profit of 16.51 million yuan, increasing by 17.34% [1] Revenue Growth and Product Performance - The company accelerated the upgrade of core products, with staple food revenue increasing by 53.42% to 102 million yuan, accounting for 13.3% of total revenue; canned product revenue grew by 59.71% to 47.98 million yuan, driven by strong overseas demand [2] - Domestic market share for pet food increased by 21.34%, showcasing the brand's influence and channel penetration [2] Profitability and Cost Management - The overall gross margin for 2024 was 22.87%, up 3 percentage points year-on-year, with overseas revenue gross margin rising by 2.95 percentage points due to higher margins on canned products [2] - The company improved production efficiency and expanded staple food capacity, leading to a net profit growth of 14.57%, surpassing revenue growth [2] International Expansion and Market Strategy - The company implemented a dual-driven strategy of "export-oriented and domestic sales coordination," with overseas revenue increasing by 16.64%, now accounting for 62.97% of total revenue [3] - The Cambodia project has commenced production, with a second phase under development, which will alleviate capacity constraints and enhance global supply chain efficiency [3] Brand Development and Innovation - The company added 14 new patents in 2024, including one invention patent, reinforcing its technological leadership in the pet food sector [3] - The Gansu subsidiary was recognized as a provincial "specialized, refined, and innovative" enterprise, and the laboratory received CNAS national certification, enhancing the company's research and product credibility [3] Overall Outlook - The company is focused on optimizing product structure and expanding overseas capacity, with high-value products like staple food and canned goods driving growth [4] - With steady domestic market penetration and ongoing brand development, the company is positioned to maintain its leadership in the pet food industry and pursue its long-term goal of becoming a global pet food brand [4]

Core Viewpoint - The company reported revenue and profit growth for 2024 and Q1 2025, driven by overseas market expansion and product structure optimization [1][2] Financial Performance - In 2024, the company achieved revenue of 778 million yuan, a year-on-year increase of 11.68%, and a net profit attributable to shareholders of 78.36 million yuan, up 14.57% [1][2] - For Q1 2025, revenue reached 184 million yuan, reflecting a growth of 17.58%, with a net profit of 16.51 million yuan, an increase of 17.34% [1] Revenue Breakdown - Overseas revenue for 2024 was 483 million yuan, growing by 16.64% and contributing over 60% of total revenue, primarily due to significant growth in large customer orders and successful new customer development [2][3] - The company's gross margin improved by 3.0 percentage points to 22.87% in 2024, attributed to rapid growth in overseas canned product sales and cost optimization from large-scale production of staple foods [2] Product Performance - Revenue from core meat jerky products grew steadily, while staple foods and canned products saw growth exceeding 50% [3] - Meat jerky generated 479 million yuan in revenue (+10.63%), accounting for 62.45% of total revenue; staple foods reached 102 million yuan (+53.42%), and canned products 47.98 million yuan (+59.71%) [3] Capacity Expansion and R&D - The company is accelerating global capacity expansion, with a Cambodian subsidiary's first phase producing 3,000 tons of pet food and the second phase partially operational, expected to add 10,500 tons of capacity [4] - R&D investment increased by 7.51% in 2024, focusing on product quality improvement, cost optimization, and new product development, enhancing the company's competitive advantage [4] Investment Outlook - The company aims for sustainable growth through innovation in the pet food market, with projected net profits of 95 million yuan, 115 million yuan, and 139 million yuan for 2025-2027, corresponding to EPS of 0.92, 1.11, and 1.35 yuan per share [4]

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company is expected to achieve steady profit growth driven by overseas expansion in 2024, with continued improvement anticipated in 2025 [1][7] - Revenue for 2024 is projected at 777.64 million yuan, representing a year-on-year increase of 11.68%, while net profit is expected to reach 78.36 million yuan, up 14.57% year-on-year [1][7] - The company is focusing on expanding its market presence, particularly in the pet food sector, with significant growth in overseas sales contributing to overall performance [7] Financial Forecasts - Total revenue is forecasted to grow from 696.31 million yuan in 2023 to 950.99 million yuan in 2025, reflecting a compound annual growth rate (CAGR) of approximately 22.29% [1][8] - Net profit is expected to increase from 68.40 million yuan in 2023 to 95.58 million yuan in 2025, with a year-on-year growth rate of 21.97% [1][8] - The earnings per share (EPS) is projected to rise from 0.66 yuan in 2023 to 0.93 yuan in 2025, indicating a positive trend in profitability [1][8] Market Data - The closing price of the company's stock is 22.55 yuan, with a market capitalization of 2,329.56 million yuan [5] - The price-to-earnings (P/E) ratio is currently at 29.73, expected to decrease to 24.37 in 2025 [1][5] Business Performance - The company has reported strong growth in its pet snack segment, with overseas sales increasing significantly, particularly in canned products, which have higher profit margins compared to domestic sales [7] - The company has invested in production capacity in Cambodia to better meet overseas demand, while also focusing on domestic market expansion [7]

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.7600 | 0.6600 | 15.15 | 0.4300 | | 每股净资产（元） | 5.34 | 4.64 | 15.09 | 4.05 | | 每股公积金(元) | 0.83 | 0.82 | 1.22 | 0.86 | | 每股未分配利润(元) | 3.33 | 2.70 | 23.33 | 2.14 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 7.78 | 6.96 | 11.78 | 5.49 | | 净利润(亿元) | 0.78 | 0.68 | 14.71 | 0.43 | | 净资产收益率(%) | 14.15 | 14.19 | -0.28 | 10.73 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 5604.91万股，累计占流通股比： 59.88%，较上 ...

| 证券代 | 证券简 | 今日涨跌幅 | 今日换手率 | 五日均线 | 最新价 | 乖离率 | | --- | --- | --- | --- | --- | --- | --- | | 码 | 称 | （%） | （%） | （元） | （元） | （%） | | 301509 | 金凯生 科 | 20.02 | 23.43 | 27.84 | 31.48 | 13.09 | | 832419 | 路斯股 份 | 14.74 | 15.79 | 21.64 | 23.51 | 8.64 | | 300858 | 科拓生 物 | 11.58 | 13.57 | 14.77 | 16.00 | 8.31 | | 603226 | 菲林格 尔 | 10.00 | 2.49 | 6.32 | 6.82 | 7.91 | | 831768 | 拾比佰 | 10.35 | 25.37 | 10.18 | 10.98 | 7.84 | | 871694 | 中裕科 技 | 9.59 | 16.07 | 17.37 | 18.63 | 7.24 | | 002793 | 罗欣药 业 | 10.02 | 5.38 | 4. ...

A股宠物经济概念股持续拉升，中宠股份此前涨停，路斯股份涨超10%，乖宝宠物涨超9%，天元宠物、 科拓生物跟涨。 ...