HISUN(SH:600267) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-14 08:17Core Insights - The strategic partnership between Zhejiang Haizheng Animal Health Products Co., Ltd. and Zhongyu Pet Food Co., Ltd. aims to launch a pet prescription food project, establishing a joint venture named Zhejiang Haizheng Zhongyu Animal Nutrition Technology Co., Ltd. focusing on production, research, and sales of pet prescription food [2][8] Investment and Financials - The total investment for the joint venture is projected to be 236 million yuan, with an approved investment amount of 204 million yuan [5] - Haizheng Animal Health has previously announced a 200 million yuan investment to establish a wholly-owned subsidiary for the pet prescription food project, which includes the construction of two intelligent production lines [5][12] Market Position and Strategy - The pet prescription food market is a niche segment centered around "nutritional formulas," with significant growth potential as the domestic market is estimated to be worth 1 to 1.5 billion yuan [7][13] - The partnership is expected to leverage Zhongyu Pet Food's strong production capabilities and supply chain, as it serves over 300 brands globally [9][10] Development Plans - The focus for the next 1-2 years will be on developing formulas, researching processes, and conducting clinical trials to validate the effectiveness of the pet prescription food [11][12] - The project will be implemented in two phases, with the first phase expected to take 24 months, aiming for an annual production capacity of 10,000 tons upon completion [12] Competitive Landscape - The domestic prescription food market is currently dominated by international brands like Royal Canin and Hill's, but there is a growing demand for reliable domestic options as the pet population ages [13] - The company aims to provide a comprehensive health solution for pets, covering pharmaceuticals, health products, and prescription food [13]