Core Viewpoint - Yiyi Co., Ltd. is planning to acquire Gao Ye Jia, a pet food company, indicating a strategic move into the pet food sector from its core business of pet hygiene products [1][3]. Group 1: Company Overview - Yiyi Co., Ltd. is a leading player in the disposable pet hygiene products market, with 93.91% of its revenue coming from pet hygiene items in the first half of 2025, and 93.47% of its revenue generated from overseas markets [3]. - Gao Ye Jia specializes in mid-to-high-end cat food and has established a strong presence in the e-commerce sector, with a reported revenue of 600 million yuan last year [4]. Group 2: Strategic Implications - The acquisition represents a bold cross-industry move for Yiyi Co., Ltd., aiming to leverage Gao Ye Jia's strengths in the rapidly growing pet food market, particularly in staple food, which accounts for 35.7% of pet spending [4]. - Yiyi Co., Ltd. has previously invested in various pet-related sectors, indicating a strategic shift towards a dual revenue model combining hygiene products and pet food [5]. Group 3: Financial Performance - Yiyi Co., Ltd. reported a net profit growth of 108.34% and a revenue growth of 34.41% in 2024, but the growth rate slowed to 9.34% in the first half of 2025, with a profit increase of only 7.37% [5]. - The company's gross profit margin is relatively low at 18.97%, primarily due to a high proportion of OEM products, highlighting the need for brand development through the acquisition [5]. Group 4: Market Trends - The pet industry is experiencing accelerated consolidation, with major players increasingly focusing on brand development and capital investment [6]. - Recent acquisitions in the sector, such as Tianyuan Pet's acquisition of Taotong Technology for 688 million yuan, reflect a broader trend of strategic mergers and acquisitions within the pet industry [6].
股票停牌多日！宠物卫生用品龙头依依股份计划并购“高爷家”