Core Viewpoint - Shandong Meiqiqi Biotechnology Co., Ltd. was fined a total of 28,140 yuan for producing counterfeit veterinary drugs and pet feed without a production license [1][6][20] Company Summary - Shandong Meiqiqi Biotechnology Co., Ltd. was found to have produced six types of products labeled with therapeutic claims for pet diseases, without obtaining the necessary veterinary drug production license [2][4] - The company was established in 2015 and focuses on the research, production, and marketing of pet functional nutrition products, primarily oral liquids for pets [7] - Despite the administrative penalties, the company's website still contains links to dog food products, although specific product details are currently inaccessible [7][9] Regulatory Summary - The administrative penalties were based on violations of the Veterinary Drug Management Regulations and the Pet Feed Management Measures, resulting in the confiscation of illegal goods and a fine [6][19] - The company produced 40 bags of dog food without the required pet feed production license, with a total value of 2,400 yuan [4][6] - The regulatory environment is tightening, with the Ministry of Agriculture and Rural Affairs launching a special rectification action plan to address illegal veterinary drug operations, particularly online [17][19] Industry Summary - The pet medical market is the second largest segment within the pet industry, accounting for 28% of the market share, with a projected growth in the pet medical market from 150 billion yuan in 2019 to 500 billion yuan by 2025, reflecting a compound annual growth rate of 20% [15][16] - The market structure includes pet hospitals, pet drugs, and pet health care, with pet hospitals holding the largest market share [16] - The rapid growth of the pet market has exposed regulatory gaps and quality safety issues, necessitating improved management and oversight [16]