RINGPU(SZ:300119) Sou Hu Cai Jing·2025-10-19 11:13Core Viewpoint - The company, Reap Bio, is establishing a partnership to invest in the pet industry, focusing on areas such as pet healthcare, food, and services, with a total fund size of 406 million yuan [1][4]. Investment Partnership - Reap Bio will invest 154 million yuan, representing 37.93% of the total fund, while the other partners include Tianjin Port Free Trade Zone Emerging Industry Development Fund (250 million yuan), Tianjin Lingang Equity Investment Fund Management Co., Ltd. (1 million yuan), and Mingzhi Hexin (Tianjin) Equity Investment Fund Management Co., Ltd. (1 million yuan) [1][2]. - The partnership is noted to be the largest specialized fund disclosed in the pet industry since 2025 [1]. Company Background - Reap Bio is a high-tech enterprise serving the animal health industry, focusing on veterinary biological products, veterinary pharmaceuticals, and functional additives, providing comprehensive health solutions for both economic and companion animals [2]. - The company was established in 1998 and became the first A-share listed company focused on veterinary medicine in 2010 [2]. Strategic Development in Pet Industry - The company's foray into the pet sector began in 2012 with the establishment of Reap Pet Hospital, leveraging its brand and supply chain advantages to promote pet medicines and vaccines [3]. - In 2022, Reap Bio strategically invested in Chongqing Yichong Technology Co., Ltd., a leading pet brand management service provider, and made further acquisitions to enhance its stake in Reap Pet Hospital [3]. - The pet supply chain business has become a significant growth driver, with revenues reaching 633 million yuan in 2024, a year-on-year increase of 37.66%, accounting for 20.63% of total revenue [3]. Market Outlook - According to KPMG's report, the Chinese pet market is expected to exceed 811.4 billion yuan by 2025, indicating a robust growth potential for investments in the pet industry [4].