618宠物食品战报发布，零食礼包品类增速突出

Investment Rating - The report maintains an "Outperform" rating for the pet food industry, indicating a positive outlook compared to the broader market [4]. Core Insights - The pet food sector is experiencing significant growth, particularly in the snack gift category, with sales figures showing remarkable year-on-year increases across various product lines [2][3]. - The 618 shopping festival saw JD.com's pet business report a transaction volume increase of over 42% year-on-year, with new user growth of 32% [1]. - Notable brands such as Maifudi and Royal are leading in sales rankings across different pet food categories, indicating strong brand performance [2]. Summary by Sections Sales Performance - During the 618 shopping festival, sales of cat baked food increased by 170% year-on-year, while cat freeze-dried main food saw a 186% increase. Sales of dog snack gift packages surged by 273% [2]. - JD.com's live streaming for pet products saw a 207% increase in viewership and a 193% increase in transaction users, highlighting the effectiveness of live commerce [2]. Investment Recommendations - The report suggests focusing on companies such as Zhongchong Co., Ltd. (002891, Buy), Guibao Pet (301498, Buy), and Petty Co., Ltd. (300673, Not Rated) due to their strong market positions and growth potential [3]. - The report emphasizes that the pet food market benefits from being a high-frequency necessity, with increasing demand driven by aging populations and changing family structures [3].