Financial Performance - The company's operating revenue for 2024 reached ¥1,659,040,277.36, representing a 17.56% increase compared to ¥1,411,284,136.89 in 2023[20]. - Net profit attributable to shareholders for 2024 was ¥182,205,588.24, a significant increase of 1,742.81% from a loss of ¥11,091,077.18 in 2023[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥181,012,422.84, up 2,742.18% from a loss of ¥6,850,868.26 in 2023[20]. - Cash flow from operating activities for 2024 was ¥366,048,865.31, a 105.20% increase from ¥178,389,791.39 in 2023[20]. - Basic earnings per share for 2024 were ¥0.75, a dramatic increase of 1,975.00% from a loss of ¥0.04 in 2023[20]. - The total assets at the end of 2024 amounted to ¥2,995,383,331.77, reflecting a 2.01% increase from ¥2,936,453,900.16 at the end of 2023[20]. - The net assets attributable to shareholders at the end of 2024 were ¥1,951,631,535.39, a 4.52% increase from ¥1,867,169,747.12 at the end of 2023[20]. - The company achieved a total revenue of RMB 1,659,040,277.36 in 2024, representing a year-on-year growth of 17.56%[67]. - The net profit attributable to shareholders reached RMB 182,205,600, marking a significant increase of 1,742.81% compared to the previous year[67]. - The company's cash flow from operating activities increased by 105.20%, amounting to RMB 366,048,900, indicating strong business recovery[70]. Market Overview - The company operates in the pet food industry, which is experiencing growing demand due to changing social dynamics and increasing pet ownership in China[30]. - In 2024, the U.S. pet industry is projected to reach $152 billion, with pet food and treats accounting for $65.8 billion, representing 43.29% of total spending[34]. - By 2025, U.S. pet industry spending is expected to increase to $157 billion, with pet food and treats projected to reach $67.8 billion[34]. - The global pet food market size was approximately $114.8 billion in 2022, with a year-on-year growth of 12% and a CAGR of 4.7% from 2009 to 2022[32]. - In China, the urban pet (dogs and cats) consumption market is expected to reach ¥300.2 billion in 2024, growing by 7.5% compared to 2023[39]. - The market share of pet food in China is 52.8%, with medical services at 28.0%, and supplies and services at 12.4% and 6.8%, respectively[40]. - By 2027, the urban pet consumption market in China is projected to reach ¥404.2 billion, with dog and cat market sizes of ¥189.1 billion and ¥215.1 billion, respectively[39]. - The U.S. pet ownership rate is increasing, with 94 million households owning at least one pet, up from 82 million in 2023[34]. Risk Management - The company emphasizes the risk of significant revenue dependence on overseas core customers and the impact of changes in the international political and economic environment[4]. - The company has a comprehensive risk management strategy outlined in the report, addressing potential operational risks and corresponding countermeasures[4]. - The company has established a sound risk management system for its overseas assets, which account for 14.34% and 18.67% of net assets in Vietnam and Cambodia respectively[88]. - The company recognizes the risk of high revenue concentration from overseas core customers and plans to diversify its client base while maintaining strong relationships with existing large clients[112]. - Fluctuations in raw material prices, particularly for chicken and hides, pose a risk to operational costs, prompting the company to enhance inventory and procurement management[114]. - The company faces globalization risks due to rapid overseas expansion and plans to strengthen management systems and localize operations to mitigate potential losses[115]. - Rising labor costs in both domestic and overseas production bases may impact profitability, leading the company to focus on product innovation and workforce training to maintain cost control[117]. Product Development and Innovation - The company has a significant focus on R&D, with investments in raw material processing, product technology, and pet nutrition, leading to a continuous increase in product variety and cost control[53]. - The company is developing low-fat pet food products to meet the growing demand for healthier pet diets, with ongoing testing and production trials[83]. - The company is focusing on high-temperature baked cat food, which is expected to enhance product appeal and market share[84]. - The company is conducting research on collagen protein pet food, aiming to improve product quality and expand its product line[83]. - The company aims to maintain rapid revenue growth in its self-owned brand business, particularly in the staple food sector, by introducing new products[108]. - The company plans to expand its product lines to include chewable foods, canned staple foods, fresh grains, and health freeze-dried pastries[108]. Corporate Governance - The company has maintained a strong internal control system, with no significant deficiencies reported during the fiscal year[128]. - The company maintains complete independence in operations, assets, personnel, finance, and business from its controlling shareholders and actual controllers[135]. - The company has established a comprehensive performance evaluation system for senior management, ensuring transparency and compliance with legal regulations[135]. - The company has a robust financial accounting system and does not share bank accounts with its controlling shareholders[135]. - The company has established independent management institutions that exercise management authority without any institutional overlap with controlling shareholders[135]. - The company has no competition or unfair related transactions with its controlling shareholders and their other enterprises[137]. Environmental and Social Responsibility - The company adheres to various environmental protection standards, including GB 16297-1996 for air pollutants and GB 8978-1996 for wastewater[187]. - The company holds a valid pollution discharge permit effective from July 26, 2024, to July 25, 2029[189]. - The company has implemented measures for the storage and disposal of hazardous waste in compliance with GB 18597-2023[188]. - The company’s emissions of harmful gases, such as ammonia and hydrogen sulfide, are within the limits set by relevant standards[189]. - The company aims to build green factories and actively reduces energy consumption and emissions[198]. Shareholder Engagement - The company plans to implement a three-year shareholder return plan from 2024 to 2026[164]. - The company held its first temporary shareholders' meeting in 2024 with a participation rate of 49.73% on January 19, 2024[138]. - The company reported a 50.73% participation rate in the annual shareholders' meeting held on May 14, 2024[138]. - The total cash dividend, including other methods, amounts to RMB 144,722,285.15, which is 100% of the total profit distribution[173].

Financial Performance - The company's revenue for Q1 2025 was ¥329,025,683.09, a decrease of 14.40% compared to ¥384,361,410.15 in the same period last year[5] - Net profit attributable to shareholders was ¥22,229,211.17, down 46.71% from ¥41,712,068.74 year-on-year[5] - Basic earnings per share decreased to ¥0.09, down 47.06% from ¥0.17 in the same period last year[5] - Net profit for the period was ¥23,268,004.43, down from ¥41,855,415.66, indicating a decline of approximately 44.5% year-over-year[29] - Earnings per share decreased to ¥0.09 from ¥0.17, reflecting a decline of 47.1% year-over-year[30] Cash Flow - The net cash flow from operating activities was -¥58,240,852.46, a decline of 46.83% compared to -¥39,664,159.28 in the previous year[5] - Cash inflow from operating activities totaled 334,351,048.78, down from 375,261,713.44 in the previous period, reflecting a decrease of approximately 10.9%[32] - Cash outflow from operating activities was 392,591,901.24, compared to 414,925,872.72 in the previous period, showing a reduction of about 5.4%[32] - The company's cash flow from operating activities has shown a negative trend, necessitating strategic adjustments to improve liquidity[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,950,459,126.32, a decrease of 1.50% from ¥2,995,383,331.77 at the end of the previous year[5] - Total liabilities decreased to ¥963,964,264.82 from ¥1,026,153,142.44, a decline of approximately 6.1%[27] - Total equity increased to ¥1,986,494,861.50 from ¥1,969,230,189.33, an increase of about 0.9%[27] Expenses - Sales expenses increased by 55.88% to ¥27,802,742.87, primarily due to higher marketing costs[12] - Research and development expenses increased to ¥5,919,070.35 from ¥4,811,189.40, representing a rise of approximately 22.9% year-over-year[28] - Total operating costs decreased to ¥299,758,359.05 from ¥336,783,529.99, a reduction of about 11.0% year-over-year[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,129[18] - The largest shareholder, Chen Zhenbiao, holds 32.35% of the shares, totaling 80,502,800 shares[18] - A total of 4,482,658 shares were repurchased, representing 1.8015% of the total share capital[23] - The total amount spent on share repurchase reached RMB 50,997,188.30[23] - The company plans to repurchase shares using self-owned funds between RMB 50 million and RMB 100 million, with a maximum repurchase price of RMB 20.00 per share[22] Investments - Investment income rose by 42.07% to ¥2,746,615.35, driven by increased returns from financial products[12] - Long-term equity investments are valued at RMB 89,505,536.87, slightly up from RMB 89,463,228.01[25] Other Financial Metrics - The company reported a significant increase in prepaid expenses, which rose by 215.09% to ¥57,948,701.54 due to increased material prepayments[10] - The company experienced a 220.80% increase in tax payments, totaling ¥24,808,184.01, attributed to higher corporate income tax payments[16] - Other comprehensive income after tax showed a loss of ¥9,783,681.53 compared to a loss of ¥24,495,256.09 in the previous period, indicating an improvement[29] - The net cash flow from investing activities was 280,172.92, an improvement from -6,694,506.02 in the previous period[33] - The net cash flow from financing activities was -22,437,501.13, an improvement from -32,729,033.49 in the previous period[33]

佩蒂股份（300673）公告，2025年第一季度营收为3.29亿元，同比下降14.40%；净利润为2222.92万 元，同比下降46.71%。 ...

佩蒂股份（300673）公告，2024年营业收入16.59亿元，同比增长17.56%。归属于上市公司股东的净利 润1.82亿元，同比增长1,742.81%。基本每股收益0.75元/股。公司拟向全体股东每10股派发现金红利3.5 元(含税)，送红股0股(含税)，以资本公积金向全体股东每10股转增0股。 ...

智通财经4月10日电，佩蒂股份涨超10%，源飞宠物、依依股份、天元宠物涨超5%，仙乐健康、吉宏股 份、创源股份、狮头股份等跟涨。消息面上，中国银河证券发布研报称，我国宠物行业规模有望于27年 突破4000亿元。情感经济、科学养宠、理性养宠等消费趋势的变化将带来结构性机遇。 宠物经济概念股震荡拉升 佩蒂股份涨超10% ...

| 证券代码：300673 | 证券简称：佩蒂股份 | 公告编号：2025-009 | | --- | --- | --- | | 债券代码：123133 | 债券简称：佩蒂转债 | | 佩蒂动物营养科技股份有限公司 特别提示： 1. 债券代码：123133； 2. 债券简称：佩蒂转债； 3. 转股期起止日期：自2022年6月28日起至2027年12月21日止； 2025 年第一季度可转换公司债券转股情况公告 4. 当前有效转股价格：人民币17.92元/股； 5. 2025年第一季度，共有83.00张佩蒂转债完成转股，共计转换成本公司股票 462.00股； 6. 自开始转股至2025年第一季度末，共有1,864.00张佩蒂转债完成转股，票面金 额合计186,400.00元，共计转换成本公司股票10,442.00股； 7. 截至2025年第一季度末，佩蒂转债尚存续7,198,136.00张，票面总金额人民币 719,813,600.00元。 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。 一、可转换公司债券发行上市情况 经深圳证券交易所审核同意，中国证监会《关于同 ...

| |  特定对象调研 分析师会议 | | | --- | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | | 类别 | 新闻发布会 路演活动 | | | | 现场参观 其他 | | | 参与单位名称及 | | | | 人员姓名（无排 | 中信证券、银华基金 | | | 名先后） | | | | 时间 | 2025 年 月 05 日（星期三）14:00-15:50 | 03 | | 地点及活动方式 | 线上线下相结合的方式，现场地点：浙江省杭州市萧山区宁围街 | | | | 道诺德财富中心 2001 室 | | | 上市公司接待人 | 线上：董事会秘书、财务总监：唐照波 | | | 员姓名 | 现场：公司副总经理、品牌事业部总裁：陈聂晗，记录人：廖新 | | | | 玲 问题 1：美国加征关税对公司的影响程度如何？ | | | | 答：目前来看，关税政策变化对客户订单没有产生明显影响，东 南亚工厂已基本能够完全承接美国客户的订单。公司计划将越南 工厂的产能再增加 2000 吨，以应对海外客户的增量，预计新增 | | | | 产能 2026 年投入使用。另外，预计柬 ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2025-008 债券代码：123133 债券简称：佩蒂转债 佩蒂动物营养科技股份有限公司 关于与专业投资机构共同投资设立宠物产业基金 完成私募投资基金备案的公告 公司将严格按照相关法律法规的规定和要求，根据目标基金的后续进展情况及时 履行信息披露义务，敬请广大投资者注意投资风险。 为准确、高效把握中国宠物产业的发展机会，借助专业投资机构的专业资源及其 投资管理和项目运作等优势，持续深化公司在宠物行业的投资布局，在不影响公司日 常经营及发展、有效控制投资风险的前提下，佩蒂动物营养科技股份有限公司（ 以下 简称公司）作为有限合伙人以自有资金出资人民币12,000.00万元认购了平阳县小满 创业投资合伙企业 有限合伙） 以下简称目标基金）40%的出资份额。2024年10月 23日，公司与目标基金、执行事务合伙人及其他投资方就本次投资事项签署了（ 平阳 县小满创业投资合伙企业 有限合伙）合伙协议》。 关于本次对外投资的 具体情况见公司于 2024年10月24日在巨潮资讯网 http://www.cninfo.com.cn/）披露的（ 关于与专业投资机构共同投资设 ...

Investment Rating - The report maintains an "Accumulate" rating for the company, indicating a projected increase of 5% to 15% relative to the CSI 300 index over the next six months [16]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 181 million and 205 million yuan in 2024, marking a significant turnaround from a loss of 11.09 million yuan in the same period of 2023 [7]. - The pet food industry is experiencing positive growth, with a 21.4% year-on-year increase in pet feed production in the first half of 2024, despite a 4.1% decline in total industrial feed production [7]. - The company's performance is driven by both domestic and international markets, with significant growth in overseas orders and a strong performance of its domestic brand during promotional events [7]. Summary by Sections Financial Performance - The company forecasts a substantial increase in revenue, with expected sales of 2.034 billion yuan in 2024, a 44.15% increase from 2023 [9]. - The net profit is projected to rise dramatically by 1835.12% in 2024, reaching 192 million yuan [9]. - Earnings per share (EPS) is expected to be 0.77 yuan in 2024, increasing to 1.00 yuan in 2025 and 1.17 yuan in 2026 [9]. Market Trends - The pet food export market has shown consistent growth, with a 31.6% year-on-year increase in December 2024 and a cumulative export volume of 33.52 million tons for the year, up 26.01% [7]. - The report highlights the ongoing expansion of the pet food market in China, driven by increasing pet ownership and consumption [7]. Strategic Initiatives - The company is focusing on its core business in the pet food sector and implementing a "one body, two wings" development strategy to enhance its market position [7]. - The report notes the successful expansion of the company's overseas production capabilities, particularly in Vietnam and Cambodia, contributing to improved profitability [7].

各位投资者下午好我是华创农业组的分析师赵浩月今天带来的深度报告的讲解是我们春节前发布的佩迪股份的深度报告全量巨星竹浪品牌规模化下一城佩迪股份成立于2022年以出口代工宠物养家起家产品遍布全球主要的客户有平浦沃尔玛等2018年佩迪开拓国内市场打造绝艳豪式家等最有品牌突围国内宠物中高端市场实现了国内国外双轮机动发展 那么从整体的报告逻辑来看呢我们会先对佩迪股份所在的行业进行一个分析分为国内和国外两个市场从国外市场来看呢佩迪股份主要的出口国是美国市场并且呢主要业务呢还是咬胶和肉质零食的出口那么美国市场的高增化的一个进程是佩迪股份是否能够获得持续的咬胶订单的一个比较关键的一个点那么国内市场来看的话呢 PP股份以绝缘为代表的品牌主要竞争的是国内的高端狗粮市场就是说我们会在高端粮市场进行一个更综合更全面的分析并且会来看一看这个市场集中度和各个品牌在这个市场里面的打法第三层是公司的核心看点核心看点来看的话我总结为是国内国外双轮驱动线下线下全局把握从国外的角度来看核心逻辑依然是产能全球化增强供应链的稳定性 同时进一步的优化海外的利润结构国内来看呢自主品牌多线并举以绝艳为代表的自主品牌形成从高到低的自主品牌矩阵同时呢公司最近的 ...