Core Insights - Petty Co. reported a slight year-on-year decline in overall revenue due to changes in tariff policies affecting overseas customer orders, with total revenue reaching 727 million yuan and net profit attributable to shareholders at 79.1 million yuan for the first half of 2025 [1] - The company is focusing on its proprietary brands as a strategic development direction, with significant performance from brands like "Jueyan" and "Haosijia" [1] Brand Performance - The "Jueyan" brand, targeting the high-end market, achieved nearly 50% year-on-year revenue growth, becoming a key growth driver for the company's proprietary brands [1] - "Jueyan" positions itself as a "builder of natural pet food standards," catering to high-net-worth customers who prioritize safety, transparency, and nutritional science in pet food [1] Product Development - During the reporting period, "Jueyan" expanded its product matrix by launching several freeze-dried products for small dogs and a beef bone soup canned food series, enhancing its offerings in the pet food market [2] - The company plans to continue introducing new products in the second half of the year across four high-growth categories: staple food, chewable products, canned food, and health-focused freeze-dried snacks [2] Market Strategy - The "Haosijia" brand targets the mid-range market with a focus on "professional nutrition + value for money," effectively filling the market gap left by "Jueyan" [2] - Petty Co. employs a multi-channel strategy, emphasizing online channels while also establishing strong partnerships with regional distributors and retailers to enhance its offline presence [3] Cost Management and Profitability - The company reported a 20.52% year-on-year reduction in operating costs, with stable growth in gross profit margins [3] - Petty Co. aims to strengthen its brand power, product quality, and channel capabilities to capitalize on the growth opportunities in the domestic pet consumption market [3]