上海妙道企业管理咨询有限公司关于 佩蒂动物营养科技股份有限公司 2022年限制性股票激励计划 首次授予第三个归属期和预留授予第二个归属期 归属相关事项 之 独立财务顾问报告 独立财务顾问： 二〇二五年八月 | 一、本次归属条件成就的说明 11 | | --- | | 二、本次限制性股票可归属的具体情况 14 | 上海妙道企业管理咨询有限公司 独立财务顾问报告 第一章 声明 上海妙道企业管理咨询有限公司接受委托，担任佩蒂动物营养科技股份有限 公司（以下简称"佩蒂股份""上市公司"或"公司"）2022年限制性股票激励 计划（以下简称"本激励计划"）的独立财务顾问（以下简称"本独立财务顾 问"），并制作本独立财务顾问报告。本独立财务顾问报告是根据《中华人民共 和国公司法》《中华人民共和国证券法》《上市公司股权激励管理办法》《深圳证券 交易所创业板股票上市规则》《深圳证券交易所创业板上市公司自律监管指南第1号— —业务办理》等法律、法规和规范性文件的有关规定，在佩蒂股份提供有关资料的 基础上，发表独立财务顾问意见，以供佩蒂股份全体股东及有关各方参考。 一、本独立财务顾问报告所依据的文件、材料由佩蒂股份提供，佩蒂股份已 ...

北京中伦文德（杭州）律师事务所 法律意见书 关于 佩蒂动物营养科技股份有限公司 2022 年限制性股票激励计划授予价格和授予数量 调整事项的 法律意见书 二〇二五年八月 浙江省杭州市萧山区钱江世纪城广孚中心 13 楼 13F Guangfu Century City,Xiaoshan District,Hangzhou,P,R,China 311200 总机：(0571)83685216 传真：(0571)83685215 法律意见书 北京中伦文德（杭州）律师事务所 关于佩蒂动物营养科技股份有限公司 2022 年限制性股票激励计划授予价格和授予数量 调整事项的 法律意见书 致：佩蒂动物营养科技股份有限公司 北京中伦文德（杭州）律师事务所(以下简称"本所"或"中伦文德")接受 佩蒂动物营养科技股份有限公司(以下简称"佩蒂股份"、"公司")的委托，担任 公司"2022 年限制性股票激励计划"(以下简称"本次激励计划")的法律顾问。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）《中华 人民共和国证券法》（以下简称"《证券法》"）以及《上市公司股权激励管理 办法》(以下简称"《管理办法》")等有关法 ...

佩蒂动物营养科技股份有限公司 2025 年半年度报告全文 证券代码：300673 证券简称：佩蒂股份 公告编号：2025-040 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 2025 年半年度报告 二〇二五年八月 1 佩蒂动物营养科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别 和连带的法律责任。公司负责人陈振标、主管会计工作负责人唐照波及会计机 构负责人（会计主管人员）周青东声明：保证本半年度报告中财务报告的真实、 准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及的未来计划等前瞻性陈述属于计划性事项，能否实现取决于 市场状况变化等多种因素，存在不确定性，并不代表公司对未来年度的盈利预 测，也不构成公司对投资者及相关人士的实质性承诺，投资者及相关人士均应 对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 公司可能存在海外客户占比较高、国际政治经济环境变化、市场竞争加剧 等经营风险 ...

佩蒂动物营养科技股份有限公司 2025 年半年度募集资金存放与使用情况专项报告 深圳证券交易所： 根据《上市公司募集资金监管规则》和贵所印发的《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作（2025 年修订）》及相关格式指引的要求，现将本公 司 2025 年半年度募集资金存放与使用情况专项说明如下： 一、募集资金基本情况 (一)实际募集资金金额、资金到账时间 经深圳证券交易所审核同意，中国证监会《关于同意佩蒂动物营养科技股份有限公司向不 特定对象发行可转换公司债券注册的批复》(证监许可(2021)3596号)同意注册，公司向不特定 对象发行面值不超过人民币72,000万元的可转换公司债券。公司本次发行可转换公司债券名称 为"佩蒂转债"，每张面值为人民币100元，按面值平价发行，共计720万张，期限为6年。公 司本次发行可转换公司债券的募集资金总额为人民币720,000,000.00元,扣除保荐及承销费用、 中介费用、手续费、信息披露费等相关费用后，募集资金净额为人民币711,859,782.01元。上 述募集资金于2021年12月28日划入募集资金专户，中汇会计师事务所(特殊普通合 ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2025-044 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 关于向不特定对象发行可转换公司债券募投项目延期并重新论证的公告 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。 2025年8月25日，佩蒂动物营养科技股份有限公司（以下简称公司或者佩蒂股份） 召开第四届董事会第十四次会议、第四届监事会第十一次会议，分别审议通过了《关 于向不特定对象发行可转换公司债券募投项目延期并重新论证的议案》，经重新分析 论证，同意公司在不改变募集资金用途、项目规模、投资总规模的前提下，将募投项 目"新西兰年产3万吨高品质宠物湿粮项目"和"年产5万吨新型宠物食品项目"完全 达到预定可使用状态的日期调整至2027年12月31日。根据中国证监会《上市公司募 集资金监管规则》和《深圳证券交易所上市公司自律监管指引第2号——创业板上市 公司规范运作》以及公司《募集资金管理办法》等相关规定，现将具体情况公告如下： 一、募集资金基本情况 经深圳证券交易所审核同意，中国证监会《关于同意佩蒂动物营养科技股份有限 公 ...

2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 及其附属企业 | 宠物食品有限公 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 司 | | | | | | | | | | | | 柬埔寨爵味食品 有限公司 | 全资子公司 | 其他应收款 | 1,078.26 | | | 1,078.26 | 0.00 | 借款 | 非经营性 | | | 泰州乐派宠物营 养有限公司 | 全资子公司 | 其他应收款 | | | | | | 借款 | 非经营性 | | | 江苏康贝宠物食 品有限公司 | 全资子公司 | 其他应收款 | 1,103.28 | 1,000.00 | 3.28 | 1,000.00 | 1,100.00 | 借款 | 非经营性 | | | 杭州宠珍商贸有 限公司 | 全资子公司 | 其他应收款 | 0.00 | 1,000.00 | 0.00 | 0.00 | 1,000.00 | 借款 | 非经营性 | | | 温州贝家宠物乐 园有限公司 | 全资 ...

Core Insights - The 27th Asia Pet Expo was held in Shanghai from August 20 to 24, showcasing over 2,500 exhibitors and attracting hundreds of thousands of attendees [1] - Petty Animal Nutrition Technology Co., Ltd. (Petty Co.) showcased its flagship brands, including Jueyan and Haosijia, and won three awards, including the "Annual China Quality Award" [1] - Jueyan achieved significant sales growth, with Douyin sales exceeding 2 million yuan, a 50% year-on-year increase, and total online sales surpassing 38 million yuan, up 52% from the previous year [2] Product Launches and Innovations - Jueyan introduced several new products at the expo, including a cod fish formula in its original air-dried food series, which is made from boneless cod sourced from Russian waters [3] - The Jueyan source power bowl series features a chicken and salmon formula that includes nine super fruits and vegetables, enhancing nutritional balance and immune support [3] - New products also include Jueyan's sheep milk vegetable biscuits and honey-flavored soft bones, designed to be appealing and safe for dogs [4][5] Brand Recognition and Awards - Haosijia received the "Annual Classic Food Brand" award, emphasizing its commitment to pet health and nutrition through rigorous research and development [6] - Haosijia's freeze-dried raw bone meat dog food features a high chicken content and zero additives, ensuring a natural diet for pets [7] Marketing and Engagement - Numerous pet influencers participated in live streaming from the Petty booth, engaging online audiences and showcasing the quality of pet food products [8] - The company aims to foster a healthier and better life for pets through its brands and services, emphasizing a commitment to high-quality development in the pet industry [9]

Market Overview - The feed sector increased by 1.25% on August 25, with Bangji Technology leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Individual Stock Performance - Bangliang Technology (603151) closed at 25.65, up 5.69% with a trading volume of 46,300 lots and a transaction value of 117 million [1] - Petty Co., Ltd. (300673) closed at 17.44, up 4.06% with a trading volume of 147,400 lots and a transaction value of 255 million [1] - Jinxinnong (002548) closed at 4.34, up 3.09% with a trading volume of 526,100 lots and a transaction value of 227 million [1] - Other notable stocks include Guai Bao Pet (301498) at 96.90 (+2.03%), Haida Group (002311) at 62.19 (+1.77%), and Dabeinong (002385) at 4.27 (+1.18%) [1] Capital Flow Analysis - The feed sector saw a net inflow of 35.23 million from institutional investors, while retail investors contributed a net inflow of 13.98 million [2] - However, speculative funds experienced a net outflow of 49.21 million [2] Detailed Capital Flow by Stock - Petty Co., Ltd. (300673) had a net outflow of 42.32 million from institutional investors, while retail investors saw a net outflow of 33.76 million [3] - Haida Group (002311) experienced a net inflow of 35.60 million from institutional investors, with a minor outflow from retail investors [3] - Tangrenshen (002567) had a net inflow of 20.55 million from institutional investors, while speculative funds saw a net outflow of 15.53 million [3]

Investment Rating - The report maintains a rating of "Outperform the Market" for the industry [7] Core Insights - The report highlights that Dahon Technology is the leading player in the domestic folding bicycle industry, with a market share of 26.3% in sales volume and 36.5% in sales revenue for 2024, indicating strong brand influence and industry position [2][12] - The folding bicycle market is experiencing rapid growth, with a projected compound annual growth rate (CAGR) of 24% in sales volume and 33% in revenue from 2022 to 2024 for Dahon Technology [2][59] - The global bicycle market is expected to grow steadily, with a retail volume increase from 164.5 million units in 2019 to 178.8 million units in 2024, reflecting a CAGR of 1.7% [13][16] Summary by Sections Industry Overview - The demand for folding bicycles is rapidly increasing, driven by urban commuting needs and the convenience of compact storage [21][22] - The global folding bicycle market is projected to grow from 2.0 million units in 2019 to 3.7 million units in 2024, with a CAGR of 13.4% [22][30] - The market for high-end folding bicycles (priced above 2500 RMB) is expanding, accounting for approximately 44.1% of retail volume and 86.5% of retail revenue in 2024 [30][42] Company Profile: Dahon Technology - Dahon Technology, founded in 1982, has established itself as a leader in the folding bicycle sector, achieving significant growth and brand recognition [2][55] - The company’s revenue for 2024 is projected to reach 4.51 billion RMB, with a net profit of 0.52 billion RMB, both reflecting a year-on-year increase of 50% [2][59] - Dahon's product strategy focuses on the mid to high-end market, with mid-range products accounting for approximately 69.5% of revenue by 2024 [70] Market Dynamics - The domestic market for folding bicycles is highly concentrated, with Dahon Technology holding a dominant position, capturing 60.4% of the market share among the top five companies [49][46] - The report indicates that the Chinese market is the largest single market for folding bicycles, with retail volume expected to grow from 0.3 million units in 2019 to 0.8 million units in 2024, reflecting a CAGR of 19.9% [40][41] - The company is expanding its distribution network, with over 680 retail points across 30 provincial regions in China, while also gradually recovering its overseas market presence [75][76]

Investment Rating - Industry rating: Outperform the market (maintained rating) [9] Core Insights - The pet industry is experiencing significant growth, with the Asia Pet Expo showcasing over 2,600 exhibitors and 20,000 brands, indicating a thriving market driven by globalization and innovation [2][13] - China's pet food exports have shown continuous growth, with 201,000 tons exported from January to July 2025, reflecting a year-on-year increase of 6.64% [14] - The pig farming sector is facing challenges, with the average pig price at 13.82 yuan/kg, a decrease of 3.63% from the previous week, and the average weight of pigs reaching a historical high [15][16] - The dairy sector is poised for a recovery, with the original milk price expected to rebound as production capacity decreases after a prolonged period of losses [17][18] - The poultry sector is focusing on breeding gaps, with a significant decline in the import of breeding chickens due to avian influenza concerns, which may impact future supply [19][20] - The planting sector emphasizes food security and the importance of biotechnology, with a focus on high-yield and resilient crop varieties [25] - The feed sector is recommended for investment, particularly in companies like Haida Group, which is expected to benefit from market recovery and increased market share [26] Summary by Sections Pet Sector - The Asia Pet Expo has reached a record scale of 310,000 square meters, highlighting the industry's vitality and innovation potential [2][13] - Pet food exports from China have increased, with a total of 201,000 tons exported in the first seven months of 2025, showing a year-on-year growth of 6.64% [14] - Recommended companies include pet food brands like Guibao Pet, Zhongchong Co., and Petty Co. [14] Pig Sector - The average pig price is currently at 13.82 yuan/kg, with a year-to-date low in profitability for pig farming [15][16] - The average weight of pigs is at a historical high, indicating supply pressures [15] - Recommended companies include leading pig farming firms such as Wens Foodstuffs Group and Muyuan Foods [16] Dairy Sector - Yuran Dairy reported stable performance with a revenue of 10.3 billion yuan, showing a year-on-year growth of 2.3% [17] - The dairy industry is expected to see a recovery as production capacity decreases [18] - Recommended companies include Yuran Dairy and China Shengmu Organic Milk [18] Poultry Sector - The poultry sector is facing challenges with breeding imports, particularly for white chickens, due to avian influenza [19][20] - Recommended companies include Shennong Development and Yisheng Livestock [20] Planting Sector - The focus is on food security and biotechnology, with an emphasis on high-yield and resilient crop varieties [25] - Recommended companies include Longping High-Tech and Dabeinong Technology Group [25] Feed Sector - Haida Group is highlighted as a key investment opportunity due to its increasing market share and performance [26] - The animal health sector is also recommended, particularly companies like Kexin Biological [27]