证券代码：301498 证券简称：乖宝宠物 公告编号：2025-025 乖宝宠物食品集团股份有限公司 股东询价转让结果报告书暨持股 5%以上股东持有权益变动触及 5%整数倍的提示性公告 股东 Golden Prosperity Investment S.A.R.L.保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 1、本次权益变动主体为持有乖宝宠物食品集团股份有限公司（以下简称"乖 宝宠物"或"公司"）5%以上股份的股东 Golden Prosperity Investment S.A.R.L. （以下简称"出让方"）。本次权益变动为集中竞价和大宗交易减持、询价转让， 本次权益变动后，出让方拥有权益的股份占公司总股本的比例由 19.0776%下降 至 14.0776%（以下简称"本次权益变动"）。 2、出让方不属于乖宝宠物控股股东、实际控制人、董事、高级管理人员， 本次权益变动不会导致上市公司控股股东及实际控制人发生变化，不会对公司 治理结构及持续经营产生重大影响。 3、本次询价转让为非公开转 ...

上市公司名称：乖宝宠物食品集团股份有限公司 股票上市地点：深圳证券交易所 股票简称：乖宝宠物 股票代码：301498 乖宝宠物食品集团股份有限公司 简式权益变动报告书 信息披露义务人：Golden Prosperity Investment S.A.R.L. 住所及通讯地址：2, rue Edward Steichen, L - 2540 Luxembourg 股份变动性质：股份减少 简式权益变动报告书签署日期：2025 年 6 月 12 日 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称《" 证券法》"）、 《上市公司收购管理办法》（以下简称"《收购办法》"）、《公开发行证券的公司信 息披露内容与格式准则第 15 号——权益变动报告书》（以下简称"准则 15 号"） 及相关的法律、法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《收购办法》及准则 15 号的规定，本报告书已全面披露 了信息披露义务人在乖宝宠物食品集团股份有限公司中拥有权益的股份变动情 况。 截至 ...

中信证券股份有限公司、中泰证券股份有限公司 关于乖宝宠物食品集团股份有限公司 股东向特定机构投资者询价转让股份的核查报告 深圳证券交易所： 中信证券股份有限公司（以下简称"中信证券"）、中泰证券股份有限公司（以下简 称"中泰证券"）（中信证券、中泰证券合并简称"组织券商"）受委托担任 Golden Prosperity Investment S.A.R.L.（以下简称"转让方"）以向特定机构投资者询价转让（以下简称"询 价转让"）方式减持所持有的乖宝宠物食品集团股份有限公司（以下简称"公司"或"乖 宝宠物"）首次公开发行前已发行股份的组织券商。 经核查，中信证券、中泰证券就本次询价转让的股东、转让方是否符合《深圳证券 交易所上市公司自律监管指引第 16 号——创业板上市公司股东询价和配售方式转让股 份（2025 年修订）》（以下简称"《询价转让和配售指引》"）要求，本次询价转让的询价、 转让过程与结果是否公平、公正，是否符合《询价转让和配售指引》的规定作出如下报 告说明。 一、本次询价转让概况 （一）本次询价转让转让方 截至 2025 年 6 月 5 日转让方所持公司首发前股份的数量及占公司总股本比例情况 如 ...

证券代码：301498 证券简称：乖宝宠物 公告编号：2025-024 乖宝宠物食品集团股份有限公司 关于部分募集资金专户注销完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意乖宝 宠物食品集团股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕 621号）同意注册，乖宝宠物食品集团股份有限公司（以下简称"公司"、"乖 宝宠物"）首次向社会公开发行人民币普通股（A股）4,000.45万股，发行价格 为39.99元/股，公司募集资金总额人民币159,978.00万元，扣除发行费用合计人 民币12,738.11万元后，募集资金净额人民币147,239.88万元。募集资金已于2023 年8月11日到位，上述募集资金到位情况已经天职国际会计师事务所（特殊普通 合伙）审验，并于2023年8月11日出具了《验资报告》（天职业字〔2023〕 43412号）。 为规范募集资金管理，维护投资者合法权益，公司已经对募集资金实行了 专户存储，并与保荐机构、存放募集资金的商业银行签署 ...

Core Viewpoint - The article discusses the recent share transfer plan by Guai Bao Pet, highlighting the ongoing trend of shareholder reductions and the company's strong stock performance despite these actions [1][2][3][4]. Share Transfer Plan - Guai Bao Pet announced a share transfer plan on June 5, 2025, where the shareholder Golden Prosperity Investment S.A.R.L. intends to transfer 12,001,335 shares, representing 3.00% of the total share capital, due to personal funding needs [1]. - The shares will not be transferred through centralized bidding or block trading, and the transferee must be an institutional investor with appropriate pricing and risk-bearing capabilities [1]. Shareholder Reduction Activity - In recent months, Guai Bao Pet's shareholders have frequently reduced their holdings, with KKR planning to reduce up to 800,089 shares (2% of total share capital) from November 4, 2024, to February 1, 2025 [2]. - By December 19, 2024, Beijing Junlian and Zhuhai Junlian completed their reduction of 2.00% of shares through various trading methods, while KKR also executed its reduction plan during the same period [2]. Stock Performance - Despite the shareholder reductions, Guai Bao Pet's stock price has significantly increased since the second half of 2024, reaching historical highs in 2025, supported by strong revenue and profit growth [3]. - The pet industry is experiencing an upward trend, with the market for pet consumption in urban China expanding, driven by emotional spending and improved industry R&D capabilities [3]. Market Sentiment - The frequent shareholder reductions have raised market concerns, although the company asserts that these actions are due to personal funding needs and will not affect control or governance [4]. - Investors are advised to closely monitor Guai Bao Pet's performance and strategies in maintaining growth amidst shareholder reductions and potential market changes [4].

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the agricultural sector compared to the overall market performance [4][5]. Core Insights - The report highlights a slight increase in the number of breeding sows, emphasizing the long-term value of quality pig farming enterprises [3]. - The report notes that the agricultural index rose by 0.9%, mirroring the performance of the Shanghai and Shenzhen 300 index, with significant stock movements observed in various companies [4][5]. - The report suggests focusing on leading brands in the pet food sector due to their strong domestic sales performance and the potential for continued earnings surprises [4][5]. - The report indicates that pig prices have consistently outperformed market expectations, with a potential re-evaluation of price expectations for the second half of the year [4][5]. Summary by Sections Livestock Farming - The average selling price of pigs was reported at 13.91 RMB/kg, reflecting a week-on-week decrease of 3.5% due to seasonal demand weakness [4]. - The report indicates that the breeding sow inventory showed a slight increase in May, with various consulting firms reporting growth rates between 0.32% and 0.92% [4][5]. - The report emphasizes the importance of low-cost pig farming enterprises in achieving excess profits in the long term [4]. Pet Food Industry - The "618" shopping festival saw robust sales in the pet food sector, with leading brands showing significant performance improvements [4]. - Notable brands such as Guai Bao Pet and Zhong Chong Co. have seen their rankings improve significantly in various categories on major e-commerce platforms [4]. - The report suggests that the pet food industry's continued growth is supported by strong marketing efforts and increased market share for leading brands [4]. Animal Health - The report notes a recovery in the sales of veterinary vaccines, with a year-on-year increase of 23.02% in the number of vaccine batches approved for sale [4]. - The profitability of downstream farming enterprises is expected to drive sustained demand for immunization products, benefiting animal health companies [4].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights that the acceleration of pig weight reduction and the resulting supply contraction will likely support a gradual increase in pig prices in the second half of 2025. The current downward pressure on pig prices is expected to be limited due to a forthcoming supply gap [4][13] - The beef market is anticipated to remain strong through 2025-2026, driven by slow recovery in supply and the price disparity between pork and beef. Global beef prices reached a historical high of 294.07 cents per pound in April 2025, up 8.69% year-on-year [5][23] - The report emphasizes the low valuation of the pig farming sector, presenting a value opportunity for investors. It recommends several companies including Muyuan Foods and Wens Foodstuffs [6][29] Summary by Sections Weekly Observation - The report notes that the acceleration of pig weight reduction has led to a short-term decline in pig prices, with the national average price at 14.07 yuan/kg as of June 6, 2025, down 0.37 yuan/kg week-on-week and 4.38% year-on-year. The supply gap is expected to support prices in the latter half of 2025 [4][13][20] Weekly Market Performance - The agricultural index underperformed the market by 0.22 percentage points, with the agricultural index rising by 0.91% compared to a 1.13% increase in the Shanghai Composite Index. The pet food sector showed the highest gains [6][33] Price Tracking - As of June 6, 2025, the average price of external three-yuan pigs was 14.06 yuan/kg, down 0.41 yuan/kg from the previous week. The average price of piglets was 34.51 yuan/kg, down 0.73 yuan/kg. The profit for self-bred pigs was 33.83 yuan/head, while the profit for purchased piglets was -120.80 yuan/head [7][45][47] Recommendations - The report recommends investments in the pig farming sector due to its low valuation and potential for recovery, highlighting companies such as Muyuan Foods, Wens Foodstuffs, and Juxing Agriculture. It also suggests investing in the feed sector, which benefits from strong overseas demand [6][29][32]

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Viewpoints - The company is entering the 2.0 phase of brand development, transitioning from merely meeting consumer preferences to leading consumption trends [1][2] - The company has shown strong performance in major sales events, consistently ranking at the top across various metrics [2] - The company is focusing on product enhancement rather than blindly launching new products, with significant upgrades planned for its brands [2][3] - The company is successfully increasing its direct sales ratio, which is expected to exceed 50% in 2024, driven by consumer choice [3] - Capacity expansion is progressing smoothly, with the second phase of the Thailand factory set to be operational in June [4] - The overall impact of tariffs on the company is considered manageable due to its low export ratio to the U.S. [4] Financial Projections and Valuation - The company’s projected net profits for 2025, 2026, and 2027 are estimated at 7.94 billion, 11.21 billion, and 15.04 billion RMB respectively, with corresponding EPS of 1.99, 2.80, and 3.76 RMB [5][7] - The target price is set at 130 RMB, based on a 65.5x PE ratio for 2025 [5][9] - The company is expected to benefit from the growth of the domestic pet industry, with a clear and effective brand-building strategy [5]

Group 1 - The initial transfer price for the shares is set at 90.00 CNY per share based on the inquiry conducted on June 6, 2025 [1] - A total of 38 institutional investors participated in the inquiry transfer, with a total effective subscription of 46,085,000 shares, resulting in a subscription multiple of 3.84 times [2] - The total number of shares to be transferred is 12,001,335, with 19 institutional investors identified as the preliminary transferees [2] Group 2 - The transfer will not be conducted through centralized bidding or block trading, and the shares acquired cannot be transferred within six months [1] - The inquiry transfer does not involve a change in company control and will not affect the company's governance structure or ongoing operations [2]

一、本次询价转让初步定价 证券代码：301498 证券名称：乖宝宠物 公告编号：2025-023 乖宝宠物食品集团股份有限公司 股东询价转让定价情况提示性公告 Golden Prosperity Investment S.A.R.L.（以下简称"出让方"）保证向乖宝 宠物食品集团股份有限公司（以下简称"乖宝宠物"或"公司"）提供的信息内 容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、准确性和完 整性依法承担法律责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： （一）经向机构投资者询价后，初步确定的转让价格为90.00元/股。 （二）参与本次询价转让报价的机构投资者家数为38家，涵盖了基金管理公 司、证券公司、私募基金管理人、合格境外投资者等专业机构投资者。参与本次 询价转让报价的机构投资者合计有效认购股份数量为46,085,000股，对应的有效 认购倍数为3.84倍。 （三）本次询价转让拟转让股份已获全额认购，初步确定受让方为19名机构 投资者，拟受让股份总数为12,001,335股。 二、相关风险提示 根据2025年6月6日询价申购情况，初步确定的本次 ...