Core Viewpoint - The rise of the pet economy reflects the emotional and spiritual pursuits of the younger generation, particularly in a materially affluent era, and highlights society's responsiveness to their reasonable demands [1][4]. Group 1: Pet Economy Growth - The pet consumption market in urban China is projected to exceed 300 billion yuan by 2024, with average annual spending on pet dogs and cats reaching 2,961 yuan and 2,020 yuan respectively [2]. - Young consumers are the main driving force behind pet spending, characterized by refined, diverse, ritualistic, and emotional consumption patterns [2][3]. Group 2: Humanization of Pet Consumption - Pet consumption has evolved into a "humanized consumption" model, where pets are viewed as family members rather than mere animals, leading to the purchase of products and services originally intended for humans [3]. - The humanization process manifests in three forms: strong emotional bonds with companion animals (e.g., dogs and cats), emotional companionship with less interactive animals (e.g., fish and birds), and emotional investment in non-living representations of animals (e.g., toys and electronic pets) [3]. Group 3: Emotional and Market Interplay - Pet ownership provides emotional solace in an increasingly individualistic society, with over 125 million one-person households in China as of 2021, where pets serve as companions for many young people [4]. - The modern family structure has led many single youths or small families to consider pets as integral family members, resulting in significant spending on pet care and related products [4]. Group 4: Consumption Upgrade - The intertwining of emotion and market dynamics fosters new market products and demands, such as preventive health management for pets and organic diets, replacing traditional pet care practices [5]. - The pet industry is evolving, giving rise to new business models, including pet health management, pet therapy, genetic testing, and even pet funerals [5]. Group 5: Activating Youth Consumption Potential - The rapid growth of youth pet consumption necessitates strategies to promote the healthy development of the pet economy, thereby stimulating internal consumption dynamics [6]. Group 6: Recommendations for Pet Economy Development - Emphasizing cohabitation knowledge and inclusive civilization is essential, considering the needs of pets and improving public facilities to support pet ownership [8]. - Expanding the humanization concept can activate the pet economy, with suggestions for enhancing pet legislation and establishing unified market standards [9]. - Developing social services around pets can create job opportunities and promote social harmony, as seen in various regions investing in pet food industry parks [9].

Group 1 - The 2025 Yiwu E-commerce Expo is set to take place from June 21-23, 2025, in Yiwu, which is recognized as a global trade hub and a key driver of digital transformation and industry innovation [1][4] - The expo will feature over 20 popular cross-border platforms, 200+ cross-border service providers, 1200+ source factories, and attract over 100,000 professional visitors [4] - The event will include eight major exhibition areas covering various sectors such as home goods, electronics, outdoor camping, and creative products, integrating resources from source manufacturers, service platforms, and cross-border logistics [4] Group 2 - The pet industry is experiencing significant growth, driven by rising living standards and the increasing role of pets in households, creating new opportunities for diversification in pet-related products and services [3] - The expo serves as an excellent opportunity for pet industry enterprises to understand the market, expand channels, and connect with partners [4][3] - The organizing committee has actively engaged with quality manufacturers and exhibitors at the pet expo to facilitate precise invitations for buyers [3]

截至5月20日，基金产品收益差距"一度"破100个百分点。 Wind数据显示，截至目前的公募基金产品年内收益最高达73.01%，最低亏损则达到27.55%，两者业绩悬殊在 不足半年时间 "一度"破100个百分点。具有微妙意味的是，排名最强的基金产品的核心重仓股主要指向过去一 年机构筹码分布较少的美容化妆品以及宠物食品股等，而排名最弱的基金产品则将重仓股指向过去一年机构筹 码高度抱团的AI算力与科技股等。 业内人士认为，低配赛道变成高配赛道或弱势行业变成强势行业的股价弹性最具吸引力，而高配赛道或强势赛 道变成更强局面的难度更大，面临的机构抛压的可能性也更大。多位基金经理也指出，相比预期过高的AI、 人形机器人等，新消费赛道的预期差更具吸引力，应持续关注消费年龄结构及新生活方式带来的新兴投资机 会。 赛道冷热变化提高基金弹性 Wind数据显示，截至5月20日，华夏北交所精选基金年内收益已达73.01%，而上海地区一家公募旗下偏股基金 年内亏损则达到27.55%。这使得未达半年时间的背景下，公募基金产品的年内收益差距 "一度"破100个百分 点。这两只基金产品之间出现的巨大业绩差距，在某种程度上还体现出弱势赛道与强 ...

Group 1 - The Fourth China-Central and Eastern European Countries Expo and International Consumer Goods Expo was held from May 22 to 25 in Ningbo, Zhejiang Province, serving as a high-level economic and cultural event to enhance practical cooperation between China and Central and Eastern European countries [1] - Chinese enterprises and Central and Eastern European companies have actively explored multi-level and multi-field cooperation around "hard technology" and "good products," achieving complementary advantages and creating a model of mutually beneficial cross-regional cooperation [2] - The expo featured a large VR amusement park from Hungary's VR PARK, which aims to attract the younger generation, particularly Generation Z, to offline experiences and social interactions [2] Group 2 - The highlight of the expo was the HEMEP hybrid multi-engine aircraft, the world's first multi-engine hybrid aircraft developed by Austria's Diamond Aircraft, which has been fully acquired by China's WanFeng Group [3] - WanFeng Group has established a global layout with four aircraft manufacturing bases and three design and R&D centers, aiming to become a global leader in general aviation innovation manufacturing [3] - During the expo, a total of 24.9 billion yuan in procurement contracts were signed, covering various categories including minerals, pet health products, skiing equipment, and wine [3][4] Group 3 - The cooperation between Ningbo Baoshui District 82 International Trade Co., Ltd. and Serbia's Viteplanet LLC involves a significant contract for pet health products, with an annual procurement scale of 80 million yuan over three years, totaling 240 million yuan [4] - The pet health product market in China demands strict safety and efficacy standards, making imported products with mature formulas and compliance qualifications a solid foundation for cooperation [4] - The Deputy Director of the European Department of the Ministry of Foreign Affairs emphasized the need for China and Central and Eastern European countries to deepen technological innovation cooperation with an open and inclusive attitude [4]

Group 1 - The Fourth China-Central and Eastern European Countries Expo and International Consumer Goods Expo was held from May 22 to 25 in Ningbo, Zhejiang Province, serving as a high-level economic and cultural event to enhance practical cooperation between China and Central and Eastern European countries [1] - The expo has become an "accelerator" for pragmatic cooperation, focusing on "hard technology" and "good products," with Chinese and Central and Eastern European enterprises exploring multi-layered and multi-field collaborations [1] - A notable exhibit was the large-space VR amusement park from Hungary's VR PARK, which aims to attract Chinese consumers by offering a unique VR experience distinct from common VR setups found in malls [1][2] Group 2 - The large-space VR project is successfully promoted in cities like Ningbo and Yangzhou, with plans to expand to 10 cities this year, targeting the younger generation, particularly Gen Z [2] - The centerpiece of the expo was the HEMEP hybrid multi-engine aircraft, the world's first multi-engine hybrid aircraft developed by Austria's Diamond Aircraft, which has been fully acquired by China's Wan Feng Group [2] - Wan Feng Group aims to become a global leader in general aviation manufacturing, having established four aircraft manufacturing bases and three design and R&D centers worldwide, with services in 90 countries [2] Group 3 - During the expo, a procurement signing event resulted in contracts totaling 2.49 billion yuan, covering various products including minerals, pet health products, and ski equipment [3] - A significant partnership was formed between Ningbo Free Trade Zone and Serbia's Vetplanet, agreeing to import pet health products worth 80 million yuan annually over three years, totaling 240 million yuan [3] - The collaboration is seen as a bright spot in the domestic pet health market, emphasizing the importance of product safety and efficacy, supported by compliance and testing from authoritative institutions [3]

图片来源：视觉中国 2024年以来，从泡泡玛特股价连创新高、到老铺黄金和蜜雪冰城登陆港股后涨势如虹，再到A股宠 物概念炒作不断，资本对"新消费叙事"的追捧有增无减。这背后是更多消费者正在从"功能需求"转 向"情绪价值"，谷子经济、古法金饰、宠物经济等新消费赛道随之爆发。 对于新消费，目前各界并无统一定义。在兴业证券全球首席策略分析师张忆东看来，新消费包括服务消 费、精神消费以及科技AI相关的新型消费。在5月20日兴业证券的中期策略会中，他表示今年特别关注 精神层面的消费，因为在物质丰富的当下，商品消费功能在减弱，消费者不再因油盐酱醋和衣食住行而 过度困扰或者有过度的依赖， 消费的亮点反而是通过消费行为来寻找情感共鸣或者构建身份认同，现 在正处于中国精神消费时代的起点 。 "我们看到很多新消费有了新的商业模式，比如以泡泡玛特为代表的一批企业，就抓住了消费转型的新 趋势，从而在整体消费相对不温不火的背景下，实现了新消费的爆发性增长。"他认为，后续以人工智 能为代表的新一代的创新消费，将会驱动各种新型消费场景的涌现。同时，微观层面来看，新兴消费公 司跟传统消费公司相比，它有更强的成长属性和自我造血能力，自由现金流和 ...

国货品牌进攻二十年，已经远远超过外国品牌了吗？或许这是一个错觉。 近日，北京大学国家发展研究院等权威机构，利用淘宝天猫平台的消费大数据，发布了"全球品牌中 国线上500强榜单" （CBI500） 。可以看出，国际品牌在中国发展势头依旧迅猛，TOP500中有156 个国际品牌上榜，苹果登顶全球榜首。 国际品牌在多个行业牢牢占据第一： 3C数码行业的苹果，美妆行业的欧莱雅，运动户外与服饰行业 的耐克，医疗健康营养的Swisse，宠物行业的皇家等。 整体来看，在服饰、食品、日化等领域，确实已实现了较高的国产替代率，而在运动户外、美妆、 3C数码等行业，国际巨头仍占据半壁江山。数据显示，美妆行业前10中有8个国际品牌，运动户外行 业上榜国际品牌数占比高达7成。 观察榜单，国际品牌在美妆行业的优势尤为显著。榜单TOP100的14个美妆品牌中，国际品牌占了11 个，分别是欧莱雅、兰蔻、雅诗兰黛、海蓝之谜、圣罗兰、香奈儿、娇韵诗、SK-II、科颜氏、修丽 可、资生堂。 在运动户外与服饰领域，国际品牌整体表现强势。上榜的运动户外品牌里，国际品牌数量占比近7 成。耐克、阿迪达斯分别位列榜单第8、第10，斐乐 FILA、始祖鸟、 ...

Group 1 - GL events has officially announced the strategic acquisition of Dongxi Bozong International Cultural Development (Wuxi) Co., Ltd, marking a significant move in its expansion strategy in the Chinese market [1] - The acquisition aligns with GL events' "Glocal" strategy, emphasizing the integration of global and local resources, particularly in the pet medical industry [4] - The partnership aims to enhance collaboration across business segments, especially in medical technology and resources, creating a comprehensive ecosystem covering pet medical, human medical, and high-end medical equipment [4] Group 2 - Dongxi Bozong focuses on the pet medical industry and has established itself as a benchmark in the sector through events like the Dongxi West Small Animal Clinical Veterinarian Conference and the Asia Small Animal Specialist Conference [4][8] - The 17th Dongxi West Small Animal Clinical Veterinarian Conference was successfully held from May 21-23, attracting over 20,000 professional attendees and covering an exhibition area of more than 50,000 square meters [5] - Future plans include leveraging each other's strengths to enhance project scale, professionalism, and internationalization [6]

Group 1 - The A-share market experienced a collective pullback, with the Shanghai Composite Index closing down 0.94% at 3348.37 points, while 1107 stocks rose and 4204 stocks fell, highlighting the strong performance of controllable nuclear fusion concepts [1] - The 60th session of the stock simulation competition concluded with the champion achieving a return of 28.38%, the runner-up 27.28%, and the third place 26.60%, with 460 participants earning positive returns [1][2] - The upcoming 61st session of the competition will allow participants to register from May 24 to May 30, with the competition running from May 26 to May 30, featuring a simulated capital of 500,000 yuan [1][7] Group 2 - Key market trends included a focus on controllable nuclear fusion and the pet economy, with rapid shifts in market hotspots testing participants' trading skills [2][5] - Notable trades included the champion's successful investment in Zhongzhou Special Materials, buying at 23.45 yuan and selling at 33.24 yuan, yielding significant profits [4] - Participants also showed interest in high-dividend assets such as banks and utilities, which are seen as safer investments during market downturns [6] Group 3 - The competition's structure has changed to weekly contests, increasing the frequency of reward opportunities, with cash prizes for positive returns [7][8] - Participants can earn additional benefits such as access to expert holdings and market insights through the competition [9] - The competition encourages active participation, with a point system rewarding consistent trading activity [8][12]

历经二十一载岁月沉淀，新财富金牌董秘评选已成为中国资本市场极具权威性与公信力的标杆评选，不仅见证 了中国资本市场蓬勃发展的壮阔征程，更以专业视角镌刻下时代变革的深刻印记。金牌董秘群体凭借卓越的专 业素养与创新实践能力，持续优化上市公司治理、深化投资者关系管理，已然成为推动中国资本市场向高质量 发展迈进的一股重要力量。 值此新财富董秘评选二十一周年之际，诚邀历届金牌董秘，分享企业战略、发展历程与职业经验，以实战洞见 解构资本风云，共探行业发展逻辑。 在宠物食品行业从"小众赛道"向"千亿蓝海"跃迁的浪潮中，佩蒂股份（300673.SZ）凭借超前的全球 化布局与技术壁垒，成为中国宠物食品行业的领军企业。 宠物行业的三十年 佩蒂股份贯彻坚持用好全球产品供应链，不断推动中国宠物健康标准升级的发展理念，聚焦宠物食品 的研发、制造、销售，以及宠物产品品牌运营等主营业务，进而在全球化方面取得了显著成绩，至今 深耕宠物行业长达三十余年之久。 近年来，以爵宴、好适嘉、齿能为代表的自主品牌取得了长足进步，打造了爵宴风干粮、爵宴鸭肉 干、好适嘉98K罐头等一系列爆款产品，自主品牌收入和排名快速上升，稳定在同类产品的头部位 置，部分品 ...