生娃就发钱的时代，这个赛道一路狂奔，今年山东已注册4.4万家

Core Insights - The pet economy is experiencing significant growth, driven by changing demographics and consumer behavior, as evidenced by the strong performance of leading companies like Zhongchong Co., which reported a 24.32% increase in revenue and a 42.56% increase in net profit in the first half of 2025 [1][2] - The number of registered pet-related businesses in China has surpassed one million for the first time in 2023, indicating a robust expansion in the sector [1][4] - The pet economy is projected to reach a market size of 701.3 billion yuan in 2024, with an annual growth rate of 18.3%, and is expected to grow to 1.15 trillion yuan by 2028 [1][4] Company Performance - Zhongchong Co. achieved a revenue of 2.432 billion yuan in the first half of 2025, marking a year-on-year growth of 24.32% [1] - The net profit attributable to shareholders for Zhongchong Co. was 203 million yuan, reflecting a year-on-year increase of 42.56% [1] - The market capitalization of Zhongchong Co. reached 18.131 billion yuan as of August 8, 2023, showing substantial growth since its initial public offering [2] Industry Trends - The pet economy has entered a golden development period, with a total of 4.7269 million pet-related businesses currently operating in China [4][7] - The registration of pet-related businesses has seen rapid growth, with 187.13 thousand new registrations in 2023, a 96.33% increase compared to the previous year [4] - The majority of pet-related businesses are concentrated in East and South China, with Shandong province being a significant hub, housing 248,800 pet-related companies [7] Market Dynamics - The perception of pets is shifting from mere companions to family members, leading to increased consumer spending on pet food, supplies, medical care, and entertainment [8] - The competitive landscape is intensifying, necessitating advancements in product development, supply chain integration, and multi-channel operations for companies to thrive [8] - Leading companies with technological advantages and global resource integration are expected to maintain their leadership in the burgeoning pet economy [8]