上海信公轶禾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 首次授予部分第一期归属相关事项 之 独立财务顾问报告 独立财务顾问： 二〇二三年八月 上海信公轶禾企业管理咨询有限公司 独立财务顾问报告 目 录 | 第一章 | 声 明 3 | | --- | --- | | 第二章 | 释 义 5 | | 第三章 | 基本假设 7 | | 第四章 | 本次激励计划履行的审批程序 8 | | 第五章 | 本次激励计划首次授予部分第一期归属达成情况 10 | | | 一、首次授予部分第一个归属期归属条件成就的说明 10 | | | 二、本次限制性股票可归属的具体情况 12 | | 第六章 | 独立财务顾问的核查意见 14 | 2 上海信公轶禾企业管理咨询有限公司 独立财务顾问报告 第一章 声 明 上海信公轶禾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 ...

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首次授予部分 第一个归属期归属条件成就及 作废部分限制性股票事项的 法律意见书 二〇二三年八月 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 作废部分限制性股票事项的 法律意见书 致：佩蒂动物营养科技股份有限公司 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首次授予部分 第一个归属期归属条件成就及 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。 法律意见书 一、公司已保证其向本所提供的与本法律意见书相关的信息、文件或资料 均为真实、准确、完整、有效，不存在虚 ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2023-052 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 关于作废部分首次授予尚未归属的第二类限制性股票的公告 （一）本激励计划简介 2022年7月11日，公司召开第三届董事会第十六次会议、第三届监事会第十二次 会议，分别审议通过了《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（草案）>及其摘要的议案》《关于<佩蒂动物营养科技股份有限公司2022年限 制性股票激励计划实施考核管理办法>的议案》等议案，同意公司实施本激励计划。 1 独立董事发表了明确同意的独立意见。同日，公司第三届监事会第十二次会议还审议 通过了《关于核实<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 授予激励对象名单>的议案》。具体内容详见公司2022年7月12日在巨潮资讯网 （http://www.cninfo.com.cn）披露的《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（草案）》及其他相关公告。2022年8月1日，公司召开2022年第四次临 时股东大会，批准了上述议案，本激励计划的主要内容如下： ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2023-053 债券代码：123033 债券简称：佩蒂转债 佩蒂动物营养科技股份有限公司 关于 2022 年限制性股票激励计划首次授予第一个归属期 符合归属条件的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示： 2023年8月14日，佩蒂动物营养科技股份有限公司（以下简称公司）召开第三届 董事会第二十五次会议、第三届监事会第二十次会议，分别审议通过了《关于2022年 限制性股票激励计划首次授予第一个归属期符合归属条件的议案》，董事会认为公司 2022年限制性股票激励计划（以下简称本激励计划）首次授予第二类限制性股票的第 一个归属期已达成归属条件，同意根据公司2022年第四次临时股东大会的相关授权为 230名符合归属条件的首次授予激励对象办理83.20万股第二类限制性股票的归属事 宜。 （一）本激励计划简介 2022年7月11日，公司召开第三届董事会第十六次会议、第三届监事会第十二次 会议，分别审议通过了《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（草案）>及其摘要 ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2023-054 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 第三届董事会第二十五次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误导 性陈述或者重大遗漏。 一、 会议召开情况 本次会议为佩蒂动物营养科技股份有限公司（以下简称公司）第三届董事会第二 十五次会议（临时会议），召开情况如下： 1. 会议通知的时间和方式：2023年8月10日上午以通讯方式向参会人员发出通 知； 2. 会议召开的时间：2023年8月14日（星期一）上午9:00； 3. 会议召开方式：现场与通讯相结合方式； 4. 现场会议地点：浙江省杭州市萧山区宁围街道诺德财富中心2001室； 5. 会议召集人：董事长陈振标先生； 6. 会议主持人：董事长陈振标先生； 7. 会议表决方式：投票表决； 8. 会议出席情况：本次会议应参会董事七名，实际参会董事七名，无董事缺席会 议；董事长陈振标先生，董事郑香兰女士、唐照波先生以现场方式出席会议；董事陈 振录先生，独立董事金晓斌先生、李路先生、余飞涛女士以通讯方式出席会议；全体 监事均以 ...

证券代码：300673 证券简称：佩蒂股份 公告编号：2023-055 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 第三届监事会第二十次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、误导 性陈述或者重大遗漏。 一、 会议召开情况 本次会议为佩蒂动物营养科技股份有限公司（以下简称公司）第三届监事会第二 十次会议（临时会议），召开情况如下： 1. 会议通知的时间和方式：2023年8月10日以通讯/书面方式向参会人员发出通 知； 2. 会议召开的时间：2023年8月14日（星期一）上午10:00； 3. 会议召开方式：现场方式； 4. 现场会议地点：浙江省平阳县水头镇工业园区宠乐路2号公司四楼会议室； 5. 会议召集人：监事会主席邓昭纯先生； （一）审议通过《关于作废部分首次授予尚未归属的第二类限制性股票的议案》 因公司2022年限制性股票激励计划（以下简称本激励计划）首次授予的部分激励 对象出现离职或者放弃激励资格等情形，拟对这部分已授出但尚未归属的4.10万股第 二类限制性股票予以作废处理。本激励计划首次授予的限制性股票数量由212.10万股 调 ...

| --- | --- | --- | |----------------|------------------------|---------------------------------| | | | 编号：IR2023-006 | | | 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 | 线上参加"佩蒂股份 2022 | 年度业绩说明会"的全体投资者，无 | | | 特定对象 | | 名先后） 时间 2023 年 05 月 08 日（星期一）15:00—17:00 地点及活动方式 价值在线（https：//www.ir-online.cn/），文字问答方式 董事长兼总经理：陈振标 上市公司接待人 董事、董事会秘书兼财务总监：唐照波 员姓名 独立董事：余飞涛 安信证券股份有限公司保荐代表人：王耀 问题 1：请问公司 2023 年度 Q1 营收大幅下滑的主要原因， 以及相关不利因素何时能够恢复？ 答：2023 年一季度，由于部分海外客户需 ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2022, representing a year-on-year growth of 15%[12] - The company's operating revenue for 2022 was CNY 1,731,801,870.99, representing a 36.27% increase compared to CNY 1,270,892,609.92 in 2021[21] - Net profit attributable to shareholders reached CNY 127,123,589.10, a significant increase of 111.81% from CNY 60,018,211.06 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 134,701,375.20, up 140.52% from CNY 56,003,223.02 in 2021[21] - The net cash flow from operating activities was CNY 230,611,952.00, a remarkable turnaround from a negative CNY 34,711,681.14 in 2021, marking a 764.36% increase[21] - Basic earnings per share increased to CNY 0.51, an 82.14% rise from CNY 0.28 in the previous year[21] - The company aims to achieve a revenue target of RMB 1.5 billion for 2023, reflecting a growth rate of 25%[12] - In 2022, the company achieved a revenue of 1.732 billion yuan, representing a year-on-year growth of 36.27%[73] - The net profit attributable to shareholders reached 127 million yuan, with a significant increase of 111.81% compared to the previous year[73] Market Expansion and Strategy - Future outlook includes an expansion into Southeast Asian markets, targeting a 10% market share within the next three years[12] - The company plans to launch three new product lines in 2023, focusing on premium pet nutrition, which is expected to drive further revenue growth[12] - The company is focused on expanding its market presence and enhancing product development in the pet nutrition sector, driven by increasing consumer demand for pet-related products and services[30] - The company is accelerating its international expansion by leveraging local resources and policies in low-cost regions[48] - The company aims to enhance its OBM business by developing a multi-brand matrix and focusing on high-quality, differentiated pet food products, aiming for significant market penetration in the dog food sector[120] Research and Development - The company has allocated RMB 200 million for research and development in new technologies and product innovations in 2023[12] - The company has invested significantly in R&D, focusing on pet food technology, with a dedicated team and multiple research platforms, leading to improved material utilization and cost control[59] - The company is developing new products, including low moisture activity chicken slices and simulated meat snacks, aimed at enhancing product quality and market competitiveness[88] - Investment in R&D has increased by 30%, focusing on developing advanced pet care technologies[155] - The company aims to strengthen its R&D capabilities to create innovative products that address consumer pain points, thereby enhancing customer retention[121] Consumer Trends and Market Insights - User data showed an increase in active customers by 20%, reaching 1.5 million by the end of 2022[12] - The U.S. pet market reached a total size of $136.8 billion in 2022, growing by 10.8% compared to the previous year[33] - The European pet market size was €51.2 billion in 2021, with a compound annual growth rate (CAGR) of 8% from 2016 to 2021[33] - In China, the urban pet consumption market size was ¥270.6 billion in 2022, reflecting an 8.7% growth from 2021[35] - The primary consumer demographic for pet products in China consists of individuals born in the 1980s and 1990s, with 90s generation accounting for 55.9%[35] Risk Management - The management highlighted potential risks including market competition and supply chain disruptions, with strategies in place to mitigate these risks[12] - Raw material price volatility poses a risk to operational costs, with significant price increases in key materials like chicken and raw hides noted during the reporting period[123] - The company faces risks from high revenue concentration with core clients, which could impact sales if these clients experience significant operational challenges[122] - The company is expanding its overseas operations, which presents challenges in management and governance due to rapid growth in production capacity and workforce[124] Corporate Governance and Management - The company has established a complete and effective internal control system, ensuring compliance and operational integrity during the reporting period[135] - The board of directors consists of seven members, including three independent directors, complying with legal and regulatory requirements[136] - The company has a well-defined performance evaluation system for senior management, ensuring transparency and compliance with legal standards[139] - The company has established specialized committees within the board, including an audit committee, to enhance decision-making efficiency[134] Environmental Responsibility - The company has established a comprehensive environmental protection system, with its Wenzhou factory recognized as a national green factory[193] - The company has implemented measures to treat waste gas, wastewater, noise, and solid waste, ensuring compliance with environmental discharge standards[194] - The company actively undertakes environmental responsibilities, strictly adhering to environmental emission standards and aiming to build green factories[197] Employee and Shareholder Relations - The total remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to RMB 808.91 million[162] - The company has a comprehensive employee training program, including onboarding and skills training, to enhance workforce quality[173] - The company has implemented a performance evaluation system to ensure fair compensation and promote employee development[172] - The company has a strategic plan for shareholder returns, ensuring that cash dividends meet a minimum threshold of 20% during profit distribution[176]

Revenue and Profitability - Revenue for Q1 2023 was ¥158,582,024.06, a decrease of 53.81% compared to ¥343,330,779.81 in the same period last year[5] - Net loss attributable to shareholders was ¥38,073,427.83, representing a decline of 233.36% from a profit of ¥28,549,110.02 in Q1 2022[5] - Basic and diluted earnings per share were both -¥0.15, down 236.36% from ¥0.11 in Q1 2022[5] - Total operating revenue for Q1 2023 was CNY 158,582,024.06, a decrease of 53.8% compared to CNY 343,330,779.81 in the same period last year[24] - Net profit for Q1 2023 was a loss of CNY 37,953,613.94, compared to a profit of CNY 29,083,142.31 in Q1 2022[25] - Other comprehensive income after tax for Q1 2023 was a loss of CNY 13,168,968.33, compared to a gain of CNY 2,208,189.34 in the same period last year[25] Cash Flow and Investments - Operating cash flow improved by 51.97%, with a net cash flow of -¥55,246,942.08 compared to -¥115,016,641.99 in the previous year[5] - The net cash flow from operating activities was -$55.25 million, an improvement from -$115.02 million in the previous period, indicating a reduction in cash outflow[27] - Cash inflow from operating activities totaled $235.94 million, down from $261.50 million year-over-year[27] - Cash outflow from operating activities decreased to $291.19 million from $376.52 million, reflecting better cost management[27] - The net cash flow from investing activities was $5.86 million, a significant recovery from -$127.16 million in the previous period[28] - Cash inflow from investing activities increased to $110.93 million compared to $2.02 million in the prior period[28] - Cash outflow from investing activities decreased to $105.07 million from $129.18 million, showing a reduction in capital expenditures[28] - The net cash flow from financing activities was $4.87 million, down from $24.11 million in the previous period[28] - Cash inflow from financing activities was $59.98 million, a decrease from $168.60 million year-over-year[28] - The ending cash and cash equivalents balance was $784.85 million, down from $810.16 million in the previous period[28] - Cash received from tax refunds decreased by 68.50% to ¥8,539,222.02 compared to ¥27,104,391.27 in Q1 2022[12] Assets and Liabilities - Total assets decreased by 1.99% to ¥2,831,143,351.40 from ¥2,888,596,875.29 at the end of the previous year[5] - Total liabilities decreased to CNY 959,827,005.08 in Q1 2023 from CNY 967,189,497.90 in the previous quarter[22] - The company's equity attributable to shareholders was CNY 1,851,101,275.28, down from CNY 1,903,118,716.14 in the previous quarter[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,959[13] - The largest shareholder, Chen Zhenbiao, holds 31.43% of the shares, totaling 79,650,000 shares[13] - The company has repurchased a total of 4,602,535 shares, representing 1.8162% of the total share capital as of March 23, 2023[17] - The average repurchase price was 16.29 RMB per share, with a total expenditure of 74,989,514.25 RMB[17] - The company plans to use repurchased shares for employee stock ownership plans or equity incentive plans[15] - The total number of shares held by the top ten shareholders includes significant stakes from Chen Zhenbiao and Chen Zhenlu, who are related parties[14] - The company has extended the repurchase plan deadline to March 23, 2023, to complete the share buyback[16] Expenses - Total operating costs for Q1 2023 were CNY 199,201,090.84, down 33.2% from CNY 298,257,813.71 year-on-year[24] - Research and development expenses decreased by 33.93% to ¥4,074,786.20 from ¥6,167,050.17 in the same period last year[11] - Research and development expenses for Q1 2023 were CNY 4,074,786.20, a decrease of 33.9% from CNY 6,167,050.17 in Q1 2022[24] - The company reported a 19713.92% increase in financial expenses, amounting to ¥13,091,386.67, primarily due to exchange rate fluctuations and increased convertible bond interest expenses[11] Inventory and Receivables - Accounts receivable decreased from 179,665,679.14 RMB at the beginning of the year to 146,578,729.40 RMB[20] - Inventory increased slightly from 424,210,276.40 RMB to 431,625,823.80 RMB during the same period[20] - The company experienced a significant increase in contract liabilities, rising 3211.08% to ¥9,683,952.66 due to increased customer prepayments[9]