【私募调研记录】煜德投资调研中宠股份

Group 1 - The core viewpoint of the news is that YuDe Investment has conducted research on Zhongchong Co., which shows promising growth in revenue and net profit for the first half of 2025 [1] - Zhongchong Co. achieved a revenue of 2.432 billion with a year-on-year growth of 24.32% and a net profit of 203 million, reflecting a year-on-year increase of 42.56% [1] - The company has established a global presence with 22 production bases and is set to complete its second factory in the U.S. by 2026, with a significant investment of 100 million in a new facility in Mexico [1] Group 2 - Zhongchong Co.'s products comply with the USMCA agreement, indicating that they are not affected by tariff adjustments [1] - The domestic market for pet products is expanding, but the concentration remains low, with an increasing trend in brand concentration [1] - The brand WNPY, a core strength of Zhongchong Co., is enhancing its brand power through various strategies including brand building and product development [1]