瑞派宠物曾先后获得瑞普生物、高盛资本、华泰新产业基金、越秀金控、瑞济基金、玛氏集团、基石资 本及蒙牛创投基金等国内外投资巨头投资，近期传出拟赴港股上市消息。 从销售层面来看，依依股份的一次性卫生用品或将能够借助瑞派庞大的宠物医院网络分销，也可以借助 医疗的刚需属性实现品牌形象的提升。 自10月13日官宣并购杭州高爷家有好多猫宠物食品有限责任公司（简称"高爷家"）之后，10 月 16 日， 依依股份又宣布与北京方圆金鼎投资管理有限公司（以下简称 "方圆金鼎"）共同投资共青城金谈创业 投资合伙企业。 该基金计划总规模 15,654.00 万元人民币，依依股份作为有限合伙人拟出资 7,020.00 万元人民币，占合 伙企业 44.8448% 份额，主要投资标的为瑞派宠物医院管理股份有限公司。 依依股份是一次性宠物卫生用品领域的龙头企业，主要经营宠物垫、宠物尿裤等产品，长期为多家国际 宠物品牌提供代工服务。2025年上半年，依依股份宠物一次性卫生护理用品营收占比为93.91%，同时 其有93.47%的收入来自境外。 而后者瑞派宠物医院是专门从事宠物连锁医院运营和管理的大型连锁机构，目前瑞派所辖门店近600 家，覆盖全 ...

从销售层面来看，依依股份的一次性卫生用品或将能够借助瑞派庞大的宠物医院网络分销，也可以借助 医疗的刚需属性实现品牌形象的提升。 宠物卫生用品巨头依依股份近期动作频频。 自10月13日官宣并购杭州高爷家有好多猫宠物食品有限责任公司（简称"高爷家"）之后，10 月 16 日， 依依股份又宣布与北京方圆金鼎投资管理有限公司（以下简称 "方圆金鼎"）共同投资共青城金谈创业 投资合伙企业。 该基金计划总规模 15,654.00 万元人民币，依依股份作为有限合伙人拟出资 7,020.00 万元人民币，占合 伙企业 44.8448% 份额，主要投资标的为瑞派宠物医院管理股份有限公司。 依依股份是一次性宠物卫生用品领域的龙头企业，主要经营宠物垫、宠物尿裤等产品，长期为多家国际 宠物品牌提供代工服务。2025年上半年，依依股份宠物一次性卫生护理用品营收占比为93.91%，同时 其有93.47%的收入来自境外。 而后者瑞派宠物医院是专门从事宠物连锁医院运营和管理的大型连锁机构，目前瑞派所辖门店近600 家，覆盖全国27个省，70余座城市。 21世纪经济报道记者 刘婧汐 陈晗章 瑞派宠物曾先后获得瑞普生物、高盛资本、华泰新产业基金 ...

21世纪经济报道记者 刘婧汐 陈晗章 10月13日晚，依依股份（001206.SZ）发布停牌公告，公司称正筹划发行股份及支付现金购买资产并募 集配套资金事项，筹划事项的交易标的为杭州高爷家有好多猫宠物食品有限责任公司（下简称高爷 家），预计在不超过10个交易日的时间内，即在10月28日前披露本次交易方案。 公告内容显示，因有关事项尚存在不确定性，为维护投资者利益，避免对公司证券交易造成重大影响， 经公司申请，公司股票自2025年10月14日开市时起开始停牌。 大胆跨界 依依股份是一次性宠物卫生用品领域的龙头企业，主要经营宠物垫、宠物尿裤等产品，长期为多家国际 宠物品牌提供代工服务。2025年上半年，依依股份宠物一次性卫生护理用品营收占比为93.91%，同时 其有93.47%的收入来自境外。 而高爷家则主要经营中高端猫主粮，曾提出"透明粮"、"益生菌猫粮"等概念，其旗下还有猫砂品牌"许 翠花"。 这是依依股份的一次大胆跨界，意味着这个"宠物纸尿裤"的头部玩家即将通过资本运作入局宠物食品赛 道。要知道，高爷家所处在的宠物主粮品类正是宠物食品领域增长最快的赛道之一。 派读宠物发布的数据显示，2024年在宠物犬猫消费 ...

Core Viewpoint - Yiyi Co., Ltd. (依依股份), known as the "first stock of pet diapers," has announced a sudden suspension of trading due to plans to acquire a pet food company specializing in cat food and cat litter [1][6]. Company Summary - Yiyi Co., Ltd. primarily engages in the production of pet hygiene products, including pet pads, pet diapers, and pet cleaning bags. The company was listed in 2021 and reported a revenue of 888 million yuan in the first half of this year, reflecting a year-on-year growth of 9.34%. The net profit attributable to the parent company was 102 million yuan, with a year-on-year increase of 7.37% [6][7]. - The company is planning to acquire Hangzhou Gaoye Family Pet Food Co., Ltd. (杭州高爷家), which was established in 2020 and has a notable presence in the pet product retail and development sector. The brand "Xucuihua" under Hangzhou Gaoye Family has gained significant recognition on e-commerce platforms [6][7]. Industry Summary - The pet economy in China has shown significant expansion, attracting various capital investments for integration and layout. This trend is expected to promote the healthy development of the sector towards branding, capitalization, and standardization [6][7]. - The overall pet market in China has grown from 97.8 billion yuan in 2015 to over 592.8 billion yuan in 2023, with a compound annual growth rate (CAGR) of 25.4%. It is projected that the market size will further increase to 811.4 billion yuan by 2025 [7].

中经记者 蒋政 北京报道 被誉为"宠物纸尿裤第一股"的依依股份突发停牌公告，称计划收购一家主营猫粮、猫砂的宠物食品公司。 《中国经营报》记者注意到，在此之前，依依股份通过一只私募资金间接持股该公司。而放眼整个行业，宠物类上市公司进行横向并购布局的动 作已成常态，另有多个传统的食品相关企业跨界布局宠物赛道。 多位行业人士告诉记者，我国宠物经济扩容明显，也吸引了诸多业内外资本进行整合布局。这有望推动整个赛道朝着品牌化、资本化、标准化的 方向健康发展。 依依股份计划收购杭州高爷家 10月13日晚，依依股份披露公告称，公司正在筹划发行股份及支付现金购买资产并募集配套资金事项，交易标的为杭州高爷家有好多猫宠物食品 有限责任公司（以下简称"杭州高爷家"）。公司股票自10月14日起开始停牌。 记者注意到，在此之前，两家公司已有交集。 在杭州高爷家的股东中，宿迁拓博资产管理合伙企业（有限合伙）持有8.125%的股权。而依依股份和来伊份是该基金的主要合伙人。同时，在杭 州高爷家之前的融资中，中宠食品同样参与投资。 栈道资本创始人吴志伟告诉记者，杭州高爷家是在2020年兴起的宠物品牌，在整个赛道内具有代表性。但是其营收在三四亿元 ...

10月13日晚间，宠物卫生护理用品龙头公司依依股份（001206）发布公告称，正在筹划发行股份及支付现金购买资产并募集配套资金事项，本次交易标的 为杭州高爷家有好多猫宠物食品有限责任公司。因有关事项尚存在不确定性，为维护投资者利益，避免对公司证券交易造成重大影响，经公司申请，公司 股票自2025年10月14日（星期二）开市时起开始停牌。 截至公告日，公司已与本次交易的主要交易对方签署《发行股份及支付现金购买资产意向协议》，初步达成购买资产意向。 记者关注到，"高爷家"品牌在电商平台拥有较高知名度，主要销售猫粮产品。以天猫平台为例，高爷家天猫旗舰店拥有34.3万粉丝，天猫旗舰店背后的企 业为杭州望妙生物科技有限责任公司，该公司为杭州高爷家有好多猫宠物食品有限责任公司的全资子公司。据企查查，杭州望妙生物科技有限责任公司已 于2021年进行A轮融资，融资金额5000万元，投资方包括金鼎投资、众晖资本。 | ﺑ 宠物食品制造商 | | | | --- | --- | --- | | 所属企业：杭州望妙生物科技有限责任公司 | 累计融资次数:1 | 电话:0571-88795521 | | 成立日期：2018-12-1 ...

Core Viewpoint - The company, Zhiyou Technology, is experiencing fluctuations in stock performance and is leveraging various economic trends such as camping, influencer marketing, cross-border e-commerce, and the pet economy to enhance its business model [2][4]. Group 1: Company Overview - Zhiyou Technology was established on January 8, 2010, and is located in Zhengzhou, Henan Province. The company specializes in the research, design, and sales of its own brand home products [7]. - The main business revenue composition includes 99.09% from cross-border e-commerce retail and 0.91% from other sources [7]. - As of June 30, 2023, the company had 11,300 shareholders, an increase of 26.05% from the previous period, with an average of 17,072 circulating shares per person, a decrease of 20.35% [8]. Group 2: Financial Performance - For the first half of 2025, Zhiyou Technology achieved a revenue of 4.044 billion yuan, representing a year-on-year growth of 8.68%, and a net profit attributable to shareholders of 190 million yuan, up 11.03% year-on-year [8]. - The company has distributed a total of 321 million yuan in dividends since its A-share listing [8]. Group 3: Market Position and Strategy - The company has established a differentiated competitive advantage in its cross-border e-commerce export logistics system, which includes domestic and overseas self-operated warehouses, platform warehouses, and third-party cooperative warehouses [2][3]. - As of November 23, 2023, the company has collaborated with influencers on platforms like TikTok to promote its products, although the sales contribution from these efforts is currently small [2]. - The company’s overseas revenue accounted for 98.88% of its total revenue, benefiting from the depreciation of the RMB [3]. Group 4: Stock Performance and Market Sentiment - On September 26, 2023, Zhiyou Technology's stock fell by 4.27%, with a trading volume of 96.8764 million yuan and a market capitalization of 7.75 billion yuan [1]. - The stock's average trading cost is 19.48 yuan, with a current price near the support level of 19.16 yuan, indicating potential volatility [6].

Core Insights - Dezhou has been recognized as a leading manufacturing cluster for high-end sports equipment, with a total of 3,169 sports industry enterprises and an annual output value exceeding 45.8 billion yuan [1][2] - The city has developed into the largest production and research base for sports equipment in China, creating over a thousand industry standards and technical patents [1][2] - The local government has implemented strong policies to support the integration of sports manufacturing with events and consumer activities, aiming to build a "characteristic sports city" [2] Industry Growth - The sports equipment industry in Dezhou has seen significant growth, with a revenue growth rate of over 30% for large-scale enterprises in recent years [2] - Major companies such as Taishan Sports and Meilida have established themselves as leading brands in the industry, contributing to the city's reputation [2] - The city has outlined ten key tasks to promote the development of the sports equipment industry, ensuring a favorable policy environment [2][3] Event Hosting - Dezhou has hosted over 300 sports events this year, including international and national competitions, attracting more than 700,000 participants [4][6] - Upcoming events include the Dezhou Canal Marathon and the Provincial Mass Fitness Games, with over 200 additional events planned for the second half of the year [5][6] - The hosting of these events is seen as a critical step in the chain development of the sports industry, driving consumption and community engagement [4] Consumer Engagement - The sports manufacturing industry has enhanced the quality of sports products available to consumers, leading to a surge in sports participation and spending [6] - Dezhou ranks third in Shandong province for per capita sports consumption, with a total sports consumption scale of 10.894 billion yuan and an average expenditure of 1,967.83 yuan per person [6] - The shift in consumer behavior reflects a growing investment in health and wellness, with increased participation in various sports activities across demographics [6]

Company Overview - Yiyi Co., Ltd. is located in the Zhangjiawo Industrial Zone of Xiqing District, Tianjin, established on May 10, 1990, and listed on May 18, 2021. The company specializes in the research, production, and sales of disposable hygiene products and non-woven fabrics [1][2]. Financial Performance - For the first half of 2025, Yiyi Co., Ltd. achieved operating revenue of 888 million yuan, representing a year-on-year growth of 9.34%. The net profit attributable to the parent company was 102 million yuan, with a year-on-year increase of 7.37% [2]. - Since its A-share listing, Yiyi Co., Ltd. has distributed a total of 531 million yuan in dividends, with 389 million yuan distributed over the past three years [3]. Stock Performance - As of September 17, Yiyi Co., Ltd.'s stock price increased by 2.07%, reaching 31.03 yuan per share, with a total market capitalization of 5.737 billion yuan. The stock has risen 94.89% year-to-date, with a 14.54% increase over the past five trading days [1]. - The stock has seen significant trading activity, with a turnover of 114 million yuan and a turnover rate of 3.54% on the same day [1]. Shareholder Information - As of September 10, the number of shareholders for Yiyi Co., Ltd. was 19,200, an increase of 2.18% from the previous period. The average number of circulating shares per shareholder was 5,544, a decrease of 2.13% [2]. - As of June 30, 2025, the top ten circulating shareholders included a notable change, with Yinhua Value Preferred Mixed Fund (519001) exiting the top ten list [3]. Business Segments - The main revenue sources for Yiyi Co., Ltd. include pet pads (86.05%), pet diapers (7.42%), non-woven fabrics (4.85%), and other disposable hygiene products [1].

Company Overview - Yiyi Co., Ltd. is located in the Zhangjiawo Industrial Zone of Xiqing District, Tianjin, and was established on May 10, 1990. The company was listed on May 18, 2021. Its main business involves the research, production, and sales of disposable hygiene products and non-woven fabrics [1][2]. Financial Performance - For the first half of 2025, Yiyi Co., Ltd. achieved operating revenue of 888 million yuan, representing a year-on-year growth of 9.34%. The net profit attributable to the parent company was 102 million yuan, reflecting a year-on-year increase of 7.37% [2]. - Since its A-share listing, Yiyi Co., Ltd. has distributed a total of 531 million yuan in dividends, with 389 million yuan distributed over the past three years [3]. Stock Performance - As of September 15, Yiyi Co., Ltd.'s stock price increased by 2.10%, reaching 29.12 yuan per share, with a total market capitalization of 5.384 billion yuan. The stock has risen 82.89% year-to-date, with a 3.89% increase over the last five trading days, 14.46% over the last 20 days, and 41.49% over the last 60 days [1]. - The stock has seen a net inflow of main funds amounting to 10.3168 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of September 10, the number of shareholders of Yiyi Co., Ltd. was 19,200, an increase of 2.18% from the previous period. The average number of circulating shares per shareholder was 5,544, a decrease of 2.13% [2]. - As of June 30, 2025, a notable change in institutional holdings occurred, with Yinhua Value Preferred Mixed Fund (519001) exiting the top ten circulating shareholders [3]. Business Segments - The main revenue sources for Yiyi Co., Ltd. include pet pads (86.05%), pet diapers (7.42%), non-woven fabrics (4.85%), nursing pads (0.84%), and other disposable hygiene products [1].