Core Insights - The article highlights the rising popularity of pet brands, with Blue's, Mytodie, and Honestbite leading in consumer interest, showcasing their strong market presence and brand loyalty [1][2]. Brand Popularity Rankings - The top three brands in the pet industry based on comprehensive popularity index are Blue's (1.85), Mytodie (1.81), and Honestbite (1.77) [2]. - Other notable brands include Royal Canin (1.72), The Nourish (1.72), and NetEase Select (1.59) [2]. Industry Trends - The fifth TOPS Pet Expo in Shanghai attracted over 8,000 pet brands, indicating a robust growth in the pet industry, covering food, supplies, medical, and smart technology sectors [3]. - Key trends observed include: - Craft upgrades such as the adoption of low-temperature baking technology - Functional segmentation targeting specific health issues like tear stains and gastrointestinal care - Integration of technology and emotional connections through public welfare and smart devices [3]. Product Innovations - The pet snack market is evolving towards diversified, scene-based, and emotional products, with a notable trend towards "cooling" elements in summer snacks, such as ice cream and jelly [4]. - New product launches include Crazy Dog's duck meat floss with sweet pear and Mytodie’s low-fat duck meat snacks, catering to health-conscious pet owners [4].

Core Viewpoint - The company has decided to extend the expected completion dates for its fundraising projects, specifically the "New Zealand annual production of 30,000 tons of high-quality pet wet food project" and the "annual production of 50,000 tons of new pet food project," to December 31, 2027, without changing the fundraising purposes or total investment scale [1][22][23]. Fundraising Overview - The company is authorized to issue convertible bonds with a total face value not exceeding RMB 720 million, with a net amount of RMB 711.86 million after deducting related fees [2][3]. - The projects funded by this issuance include the New Zealand wet food project and the new pet food project, with total investments of RMB 288 million and RMB 346.63 million respectively [2][3]. Project Details - The New Zealand project aims to establish a production line for high-quality pet wet food, with a planned investment of RMB 288 million, of which RMB 236.5 million is to be funded by the raised capital [2][3]. - The new pet food project has a total investment of RMB 346.63 million, with RMB 265.36 million planned to be funded by the raised capital [2][3]. Project Delay Reasons - The delay for the New Zealand wet food project is due to the company's focus on an existing 40,000-ton high-quality pet dry food project, which is still in the market expansion phase and has not yet contributed profits [6][7]. - The new pet food project is experiencing delays due to the complexity of multiple production lines and the need to prioritize production based on market development [7][8]. Market Trends - The global pet food market is expected to grow significantly, with the cat and dog food market projected to reach USD 147.3 billion by 2024, reflecting a compound annual growth rate (CAGR) of 5.7% from 2024 to 2029 [8][9]. - In China, the pet food market is also expanding, with a projected market size of RMB 300.2 billion in 2024, growing by 7.5% from 2023 [9][17]. Company Strategy - The company is focusing on developing its own brand while maintaining its original equipment manufacturing (OEM) business, aiming to capture the growing demand for high-quality pet food products [11][19]. - The company has established a strong market presence and distribution channels, both online and offline, to support its growth strategy in the pet food sector [12][13]. Regulatory Compliance - The adjustments to the project timelines have been approved by the company's board and supervisory committee, ensuring compliance with relevant regulations and protecting shareholder interests [23][24].

Core Viewpoint - Gansu Agricultural Reclamation Group's subsidiary, Lanzhou Zhuangyuan Pastoral Co., Ltd., has launched a new pet food brand "Safiyy" at the 27th Asia Pet Expo, leveraging its unique "milk beef" as a differentiated raw material to enter the pet food market [1][2]. Industry Overview - The pet food industry in China is experiencing rapid growth, with the market size reaching 190 billion yuan in 2023 and expected to exceed 380 billion yuan by 2028, reflecting a compound annual growth rate of nearly 15% [2]. - Key trends in the industry include product premiumization, ingredient transparency, and specialized functionality, which are becoming focal points in the competitive landscape [2]. Company Strategy - Zhuangyuan Pastoral has established a comprehensive supply chain since its inception in 2000, focusing on dairy farming, research, processing, and sales [3]. - The company operates 11 standardized farms that adhere to strict management systems to ensure high-quality milk production without stress or hormone interference [3]. Product Differentiation - "Safiyy" utilizes high-protein, low-allergen beef as its core ingredient, setting it apart from competitors that primarily use chicken as the main protein source [2]. - The brand has achieved eight national certifications, including organic food and food safety management systems, creating a differentiated quality barrier [5]. Consumer Trends - A report indicates that in 2024, pet owners will increasingly prioritize palatability, user reputation, traceability of ingredients, and specific functionalities when selecting pet food, aligning with "Safiyy's" focus on transparent sourcing and nutritional science [5]. Product Development - "Safiyy" incorporates local Northwest ingredients and traditional Chinese medicine principles to address common pet health issues, showcasing innovation in product development [5]. Market Entry Strategy - The launch of "Safiyy" represents Zhuangyuan Pastoral's strategic extension into high-value segments, with plans to initiate a comprehensive online and offline channel strategy starting in October [5].