Group 1: Research and Development Focus - The Shanghai R&D center focuses on core technologies, new ingredients, and the impact of product composition on nutrient absorption, while the Liaocheng center emphasizes product innovation based on market demand and pet physiological characteristics [1][2] - The company has invested a total of 227 million CNY in R&D over the past three years to support these initiatives [2] Group 2: Domestic vs. International Research - The domestic pet food industry is still in its early stages compared to more mature international research, which provides valuable insights but may not fully apply to the domestic market [2][3] - Research indicates that the gut microbiota of Chinese pets differs from that of Western pets, suggesting unique nutritional and digestive needs that present opportunities for domestic product development [3] Group 3: Future Product Development Trends - Future pet food products may need to balance health and enjoyment, as definitions of "happiness" for pets are still under exploration [4] - The company believes that understanding pet nature through big data and scientific research is crucial for developing effective pet food products [4] Group 4: Animal Welfare in Research - The research environment prioritizes animal welfare, with no harmful testing conducted; observations and non-invasive studies are used to gather data [5] - Long-term observation methods are slower but ensure the well-being of the animals involved in research [5] Group 5: Investment in Smart Warehousing - The company is investing in a smart warehousing and sorting center to enhance operational efficiency, driven by a 30% increase in self-branded product shipments expected in 2024 [6] - The project aims to meet high standards for raw material quality and support the company's digital transformation strategy [6] - The smart warehousing system will improve supply chain efficiency and support agile delivery capabilities, addressing the need for quick responses to market demands [6]