在上海新国际博览中心的E1展馆内，优克联展台的演示屏幕上，一只柯基犬在做出高频习惯动作后， 随即触发项圈上的智能设备，与异地出差的宠物主开始了远程语音"通话"。这不是科幻电影场景，而是 第27届亚洲宠物展览会上的真实一幕。 8月21日上午9时，中国证券报记者在展馆外看到，观众已排起长龙。2600多家展商、31万平方米展览面 积、预计超过51万的参观人次……这些数字背后，是一个正在高速发展的"它经济"市场，而智能化是支 撑其高质量扩容的重要引擎。 "通过训练宠物做出特定动作，例如连续跳跃等，这款智能设备就能识别指令并向主人发起通话。"优克 联展台相关工作人员告诉记者，这款智能设备完全打破了传统定位器的功能边界，实现了本质突破，可 以构建起人宠双向实时通话的全新交互维度。 "依托宠物端可穿戴智能硬件与主人端App的协同架构，从户外精准寻宠、远程互动安抚，到健康数据 预警、日常趣味沟通，其全场景覆盖能力重新定义了宠物智能设备的价值维度。这种以情感交互为核心 的智能硬件模式，有望改写行业对'宠物科技'的认知边界。"上述工作人员表示。 随着养宠人群逐渐年轻化，宠物经济正从"喂饱就行"的基础需求，过渡到"精致养宠"的情感 ...

Core Insights - The pet economy is rapidly evolving, driven by technological advancements and a shift towards more sophisticated pet care practices [1][2][8] - The demand for smart pet products is increasing, with innovations such as AI-enabled devices and health monitoring systems gaining traction [2][3][8] - The supply chain for pet products is undergoing significant upgrades, enhancing efficiency and product quality [3][4][5][6] Industry Trends - The "it economy" is characterized by a growing emphasis on emotional consumption and refined pet care, moving beyond basic needs [2][8] - The integration of AI in pet products is becoming a key trend, with companies developing smart devices that enhance interaction between pets and owners [8] - The number of pet-related enterprises in China has surged, indicating a robust growth trajectory in the pet industry [7][8] Company Performance - Companies like Zhongchong Co. reported a 24.32% increase in revenue for the first half of 2025, reflecting the booming pet market [6] - Ruipubio expects a profit increase of 50% to 70% for the same period, driven by a focus on pet healthcare and supply chain integration [7] - New entrants, such as Yongli Co., are diversifying into the pet sector, highlighting the industry's attractiveness to various businesses [7] Technological Innovations - The Asia Pet Expo showcased cutting-edge products, including the world's first pet smartphone and automated pet care devices [1][2][3] - Companies are leveraging AI and big data to enhance production processes and product offerings in the pet food sector [3][4] - Innovations in packaging and logistics are crucial for meeting the seasonal demands and shelf-life challenges of pet food products [5][6]

Core Insights - The article highlights the 8th anniversary of Zhongchong Co., marking its significant role as the first listed company in China's pet food industry on the Shenzhen Stock Exchange, which has catalyzed the industry's capitalized and standardized development [5][10][62] Financial Performance - Zhongchong Co. has achieved remarkable financial growth, entering the "40 billion club" with revenues surpassing 30 billion yuan in 2022 and exceeding 37 billion yuan in 2023, with projections to reach 50 billion yuan by the end of 2025 [11][12][14] - The company reported a revenue increase of approximately 25% in the first half of 2025, with net profits exceeding 2 billion yuan, reflecting a growth rate of over 40% [14][16] Market Strategy - The company has focused on building its own brands, with WANPY, Toptrees, and ZEAL becoming influential in the pet food market, and has successfully expanded its domestic market share, with domestic revenue exceeding 14 billion yuan in 2024 [17][18][19] - Zhongchong Co. has implemented a comprehensive marketing strategy, utilizing celebrity endorsements and innovative promotional tactics to enhance brand recognition and consumer engagement [21][25][32] Global Expansion - The company has established over 22 modern production bases globally, including a new factory in Mexico, marking a significant step in its international supply chain strategy [50][52] - Zhongchong Co. has successfully penetrated 85 countries with its products, showcasing its global brand presence and commitment to quality [19][49] Innovation and R&D - The company has invested heavily in research and development, establishing advanced laboratories and collaborating with academic institutions to enhance product innovation and nutritional standards [54][59] - Zhongchong Co. has focused on creating a diverse product range that meets various consumer needs, including high-end and functional pet food products [18][19][25] Industry Impact - As a leading player in the pet food industry, Zhongchong Co. has contributed to the transformation of China's manufacturing sector from "Made in China" to "Brand from China," reflecting broader trends in the industry [19][49][62] - The company aims to continue driving high-quality growth in the pet food sector, leveraging its strategic focus on brand development and market expansion [62]

内容概要：受人口老龄化、独生子女和单身青年数量增加等因素影响，越来越多的人选择养宠物，宠物 数量的增长为宠物零食行业提供了庞大的消费群体，市场需求持续扩大，同时，宠物主人对宠物的情感 投入不断加深，把宠物视为家庭成员，愿意为宠物购买高品质的零食，以满足宠物的口感需求和自身的 情感需求，从"吃得饱"到"吃得好"的情感消费升级趋势明显，据统计，2024年我国宠物零食行业市场规 模达474.4亿元，同比增长8.50%。 上市企业：中宠股份（002891）、佩蒂股份（300673）、源飞宠物（001222）、路斯股份（832419）、 朗诺宠物（873917.NQ）、乖宝宠物（301498）、天元宠物（301335） 关键词：宠物零食发展历程、宠物零食产业链、宠物零食市场规模、宠物零食竞争格局、宠物零食发展 趋势 一、概述 宠物食品是专门为宠物提供的食物，其作用主要是为宠物提供最基础的生命保证、生长发育和健康所需 的营养物质。宠物食品可分为宠物主粮、宠物零食和宠物保健品，其中，宠物零食通常是指能够补充单 一或部分营养素但不追求全面平衡营养，人们为吸引宠物注意力、调节宠物口味、加深人宠之间感情、 增强人宠互动、协助宠物 ...

证券之星消息，8月20日饲料板块较上一交易日上涨0.56%，路德环境领涨。当日上证指数报收于 3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。饲料板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688156 | 路德环境 | 24.17 | 7.04% | 5.09万 | | 1.18亿 | | 002891 | 中宠股份 | 62.75 | 3.89% | 13.70万 | | 8.44亿 | | 001366 | 播恩集团 | 13.36 | 1.75% | 3.51万 | | 4636.61万 | | 603151 | 邦基科技 | 24.14 | 1.51% | 2.47万 | | 5929.42万 | | 301498 | 乖宝宠物 | 96.88 | 1.34% | 2.82万 | | 2.71亿 | | 002548 | 金新农 | 4.21 | 1.20% | 20.73万 | | 8668.03万 | | 6 ...

Group 1 - The latest stock price of Zhongchong Co., Ltd. is 60.40 yuan, an increase of 1.34% compared to the previous trading day, with a highest intraday price of 61.99 yuan and a lowest of 59.09 yuan, and a trading volume of 107,900 hands, totaling a transaction amount of 653 million yuan [1] - Zhongchong Co., Ltd. specializes in the research, production, and sales of pet food, covering various categories such as pet snacks and pet staple food, and operates within the agriculture, animal husbandry, and fishery industry, while also being involved in the pet economy sector [1] - Morgan Stanley has entered the top ten circulating shareholders of Zhongchong Co., Ltd. in the second quarter of this year, holding 1.86 million shares, along with other foreign institutions like Itoham Yonekyu Holdings and Aberdeen Asset Management appearing in the company's shareholder list [1] Group 2 - On August 19, Zhongchong Co., Ltd. experienced a net inflow of main funds amounting to 56.65 million yuan, with a cumulative net inflow of 19.28 million yuan over the past five days [1]

Group 1: Institutional Research and Shareholder Activity - The top twenty companies with the most institutional research in the last 30 days include Dongpeng Beverage, Zhongchong Co., Hikvision, Defu Technology, and Xinyi Technology[5] - In the last five days, the most researched companies include Nanwei Medical, Anjisi, Jinchengzi, Xinqianglian, and Baiya Co.[5] - Among the top twenty companies with institutional research in the last 30 days, 12 companies had 10 or more rating agencies, including Dongpeng Beverage, Zhongchong Co., and Hikvision[5] Group 2: Shareholder Buybacks - From August 11 to August 15, 2025, 51 companies announced buyback progress, with 10 having 10 or more rating agencies, and only 2 companies (Baolong Technology and Fuanna) had buyback amounts exceeding 1% of their market value[25] - From January 1 to August 15, 2025, 1,662 companies announced buyback progress, with 364 having 10 or more rating agencies, and 99 companies had buyback amounts exceeding 1% of their market value[27] Group 3: Shareholder Increase Activity - From August 11 to August 15, 2025, only 5 companies with significant shareholder increases had amounts below 1% of their market value[19] - From January 1 to August 15, 2025, 251 companies announced significant shareholder increases, with 67 having 10 or more rating agencies, and 19 companies had amounts exceeding 1% of their market value[21]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Dongpeng Beverage, Zhongchong Co., Hikvision, Defu Technology, and Xinyi Technology [10][11] - In the last five days, the most popular companies for institutional research include Nanwei Medical, Anjisi, Jinchengzi, New Strong Union, and Baiya Co. [10][11] - Among the top twenty companies in the past 30 days, twelve companies had ten or more rating agencies, including Dongpeng Beverage, Zhongchong Co., Ninebot, Baiya Co., Hikvision, Jereh, Xinyi Technology, Hongfa Technology, Nanwei Medical, Baijia Shenzhou, Huaming Equipment, and Shijia Photon [10][11] - Companies such as Xinyi Technology, Dongpeng Beverage, Zhongchong Co., and Ninebot are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [10][11] Group 2: Shareholder Increase and Buyback Situations - From August 11 to August 15, 2025, five companies announced significant shareholder increases, but the average proposed increase amount was less than 1% of the market value on the announcement date [14] - From January 1 to August 15, 2025, a total of 251 companies announced shareholder increases, with 67 having ten or more rating agencies. Among these, 19 companies had an average proposed increase amount exceeding 1% of the latest market value, including Xinjie Energy, Tunnel Co., Sailun Tire, and Wanrun Co. [15] - During the same period, 1,662 companies announced buyback progress, with 364 having ten or more rating agencies. Among these, 99 companies had a proposed buyback amount exceeding 1% of the market value [19] Group 3: Buyback Progress - From August 11 to August 15, 2025, 51 companies announced buyback progress, with 10 having ten or more rating agencies. Only two companies, Baolong Technology and Fuanna, had a proposed buyback amount exceeding 1% of the market value [18] - From January 1 to August 15, 2025, 99 companies were in the board proposal stage for buybacks, including Liu Gong, Sanor Biotech, Shantui, Haixing Electric, Jiayi Co., and Gaoneng Environment [19] Group 4: Institutional Fund Flow - During the week of August 11 to August 15, 2025, sectors such as power equipment, electronics, real estate, non-bank financials, public utilities, computers, home appliances, building materials, light industry manufacturing, and banking received net inflows from institutional funds [24]

Investment Rating - The report maintains a "Recommended" rating for the agricultural, forestry, animal husbandry, and fishery industry [5][63]. Core Insights - The report highlights the ongoing recovery in the pig farming sector, the potential for valuation reassessment, and the strong growth in the pet economy, particularly for domestic brands [5][63]. Summary by Sections 1. Swine Industry - The average price of pigs as of August 14, 2025, is 13.74 CNY/kg, with a week-on-week decrease of 0.28 CNY/kg. The price of 15 kg piglets is 484 CNY/head, down 33 CNY/head from the previous week [12]. - The report suggests that the swine industry is moving towards a self-regulatory and stabilizing phase, with top companies like Wens Foodstuffs, Muyuan Foods, and Juxing Agriculture being recommended for investment [12][5]. 2. Poultry Industry - The report notes a decline in poultry prices, with the average price of broiler chickens at 3.60 CNY/kg, remaining stable week-on-week. The report recommends companies like San Nong Development and Lihua Shares [21][22]. 3. Animal Health - The animal health sector is experiencing a recovery, with companies like Huayuan Biological, Reap Biological, and Placo showing improved performance. The approval of mRNA vaccines for veterinary use is seen as a significant technological advancement [33][5]. 4. Planting Industry - The report indicates an increase in soybean meal prices, with the average price reaching 3092 CNY/ton, up 2.8% week-on-week. Companies involved in transgenic seed commercialization are recommended for investment [38][42]. 5. Feed Industry - Feed prices are fluctuating, with the price for fattening pig feed at 3.34 CNY/kg, down 0.3% month-on-month. The report suggests that the feed industry is likely to see increased concentration, recommending companies like Haida Group [44][46]. 6. Pet Industry - The pet economy is booming, with the market size for pet consumption in urban areas projected to reach 300.2 billion CNY in 2024, growing by 7.5%. Companies like Guobao Pet, Zhongchong Shares, and Petty Shares are recommended for investment [53][54].

Market Performance - On August 18, the three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.85% to 3728.03 points, the Shenzhen Component Index rising by 1.73% to 11835.57 points, and the ChiNext Index climbing by 2.84% to 2606.2 points [1] Fund Manager Changes - In the past 30 days (July 19 to August 18), a total of 510 fund managers have left their positions across various funds, with 52 announcements made on August 18 alone [3] - The reasons for the departures include 10 fund managers leaving due to job changes from 26 funds, 2 due to personal reasons from 14 funds, and 5 due to product expirations from 12 funds [3] Fund Manager Profiles - Zhang Xiaonan, managing assets totaling 35.397 billion yuan, has achieved a return of 126.27% on the Invesco Nasdaq Technology ETF during his tenure of 2 years and 190 days [4] - Zhang Shenyuan, with a total asset management of 41.087 billion yuan, has achieved a return of 369.76% on the Fortune CSI Military Industry Index Fund during his tenure of 1 year and 34 days [5] Fund Research Activity - In the past month, Penghua Fund conducted the most company research, engaging with 50 listed companies, followed by Huaxia Fund and Bosera Fund, each with 46 companies [7] - The most researched industry was specialized equipment, with 183 instances, followed by chemical products with 170 instances [7] Recent Stock Research - The most focused stock in the past month was Defu Technology, with 79 fund management companies participating in its research, followed by Zhongchong Co. and Baiya Co. with 71 and 65 companies, respectively [9] - In the past week (August 11 to August 18), Baiya Co. was the most researched stock, with 65 fund institutions involved [8]