Market Overview - On May 20, the A-share market experienced a collective rise, with the Shanghai Composite Index increasing by 0.38%, the Shenzhen Component Index by 0.77%, and the ChiNext Index by 0.77%. The North Star 50 Index reached a historical high with a 1.22% increase. The total market turnover was 12,112 billion yuan, an increase of 923 billion yuan from the previous day, with over 3,800 stocks rising [1]. Pet Economy - The pet economy sector saw significant gains, with multiple stocks hitting the daily limit [2]. - Recent disclosures from several listed companies in the pet industry, such as Zhongchong Co. and Guibao Pet, indicated substantial growth in their 2024 and Q1 2025 performance. The pet economy in China reached a scale of 5,928 billion yuan in 2023, with expectations to grow to 11,500 billion yuan by 2028 [3]. - According to the 2025 China Pet Industry White Paper, pet food constitutes the largest segment of pet consumption, projected to hold a market share of 52.8% in 2024. The breakdown of pet consumption includes 35.7% for pet staple food, 13.5% for snacks, and 3.6% for nutritional products [3]. - CITIC Securities research indicates that the pet sector's performance is expected to continue growing in 2025, highlighting the strong demand resilience and the current market structure of "large industry, small leaders," with an anticipated increase in market share for leading companies through product innovation and brand development [3]. Beauty and Women's Economy - The cultivated diamond sector led the market with a 4.10% increase, while the beauty and personal care sector also performed well, attributed to the rise of the "she economy." Data from Tmall indicated that over 13,000 brands saw their sales double within the first hour of the "6·18" sales event, with domestic beauty brands performing particularly well [4]. - According to Tianyancha, there are over 8.65 million enterprises related to the "she economy" currently in operation in China, with approximately 726,000 new registrations in 2025 alone. Guangdong, Shandong, and Zhejiang provinces have the highest number of such enterprises [4]. - Tianyancha Research Institute suggests that the influence of women is shifting industries from "traffic harvesting" to "value co-creation," emphasizing the importance of understanding women's deep-seated needs in areas like "scientific parenting," "self-growth," and "emotional resonance" to capture opportunities in the 10 trillion yuan market [4].