来源：新浪证券-红岸工作室 10月10日，源飞宠物涨4.94%，成交额1.73亿元，换手率6.73%，总市值45.79亿元。 异动分析 宠物经济+跨境电商+共同富裕示范区+人民币贬值受益+一带一路 1、温州源飞宠物玩具制品股份有限公司的主营业务是宠物用品和宠物食品的研发、生产和销售。公司 的主要产品是宠物零食、宠物牵引用具、宠物玩具、宠物干粮、宠物湿粮。 2、2022年10月14日互动易回复：公司在境外进行的自主品牌销售主要由子公司美国BA开展，销售的产 品全部为宠物牵引用具，主要通过在Amazon、Shopify等网络电商平台进行销售。 3、公司位于浙江省温州市平阳县水头镇标准园区宠乐路1号，专注于宠物用品和宠物零食的研发、生产 和销售。 4、根据2024年年报，公司海外营收占比为85.78%，受益于人民币贬值。 5、2023年3月31日互动易回复：公司的海外基地主要为柬埔寨爱淘和柬埔寨莱德，其作为公司推进全球 化产能布局、提高市场竞争力的重要战略，主要定位为公司在东南亚地区的生产基地并作为国内产能的 补充；同时作为建立东南亚供应链的尝试，公司设立柬埔寨生产基地有利于降低劳动力成本和应对国际 贸易摩擦。目前 ...

来源：新浪证券-红岸工作室 10月9日，源飞宠物跌1.17%，成交额6343.57万元，换手率2.58%，总市值43.64亿元。 异动分析 宠物经济+跨境电商+共同富裕示范区+人民币贬值受益+一带一路 1、温州源飞宠物玩具制品股份有限公司的主营业务是宠物用品和宠物食品的研发、生产和销售。公司 的主要产品是宠物零食、宠物牵引用具、宠物玩具、宠物干粮、宠物湿粮。 2、2022年10月14日互动易回复：公司在境外进行的自主品牌销售主要由子公司美国BA开展，销售的产 品全部为宠物牵引用具，主要通过在Amazon、Shopify等网络电商平台进行销售。 3、公司位于浙江省温州市平阳县水头镇标准园区宠乐路1号，专注于宠物用品和宠物零食的研发、生产 和销售。 区间今日近3日近5日近10日近20日主力净流入-88.45万-824.06万-721.13万-1696.83万-5031.55万 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额2424.63万，占总成交额的5.56%。 技术面：筹码平均交易成本为24.06元 该股筹码平均交易成本为24.06元，近期该股有吸筹现象，但吸筹力度不强；目前股价靠近压力位 22.96， ...

Core Viewpoint - The company, Wenzhou Yuanfei Pet Products Co., Ltd., is benefiting from the pet economy, cross-border e-commerce, and the depreciation of the RMB, with a significant portion of its revenue coming from overseas sales [2][3]. Company Overview - Wenzhou Yuanfei Pet Products Co., Ltd. specializes in the research, production, and sales of pet supplies and pet food, with main products including pet snacks, leashes, toys, dry food, and wet food [2][7]. - The company was established on September 27, 2004, and went public on August 18, 2022 [7]. - As of June 30, 2025, the company reported a revenue of 792 million yuan, a year-on-year increase of 45.52%, and a net profit of 74.16 million yuan, a year-on-year increase of 0.37% [7]. Revenue Composition - The revenue composition of the company is as follows: pet snacks 52.09%, pet leashes 24.77%, pet staple food 9.79%, others 7.72%, and pet toys 5.64% [7]. International Operations - The company has a significant international presence, with 85.78% of its revenue coming from overseas, benefiting from the depreciation of the RMB [3]. - The overseas sales are primarily conducted through its subsidiary in the U.S., BA, focusing on pet leashes sold via platforms like Amazon and Shopify [2][3]. Production and Supply Chain - The company has established production bases in Cambodia, which serve as important strategic locations for enhancing market competitiveness and reducing labor costs [3]. - The Cambodian production bases, Aitao and Laide, have been operational with an annual capacity utilization rate of around 80% [3]. Shareholder Information - As of June 30, 2025, the company had 15,300 shareholders, an increase of 20.85% from the previous period, with an average of 5,146 shares held per shareholder, a decrease of 17.29% [7][8]. - Notable new institutional shareholders include Hai Fu Tong Growth Value Mixed A and Bo Shi Third Industry Growth Mixed [8].

Group 1 - The company held its eighth meeting of the third board of directors on September 18, 2025, with all seven directors present, and the meeting was conducted in accordance with relevant laws and regulations [2][4] - The board approved the proposal to continue using part of the temporarily idle raised funds for cash management, with an amount not exceeding 80 million RMB, for a period not exceeding 12 months [2][23] - The company will invest in low-risk, high-liquidity, and capital-preserving financial products or deposit products, including but not limited to wealth management products, structured deposits, large certificates of deposit, and time deposits [7][15] Group 2 - The board also approved the revision of the "Selection System for Accounting Firms," aligning it with relevant laws and the company's actual needs [5][23] - The company has previously approved the use of up to 250 million RMB of temporarily idle raised funds for cash management in 2024, indicating a consistent strategy to enhance fund utilization efficiency [8][9] - The company aims to improve the efficiency of fund usage and increase shareholder returns while ensuring that the cash management does not affect the normal operation of the fundraising investment projects [14][22] Group 3 - The company has established a special account for the management and use of raised funds, ensuring that all funds are properly monitored and utilized [10][12] - The company will ensure compliance with relevant regulations and will not change the purpose of the raised funds through cash management [17][24] - The independent directors and internal audit department will oversee the use and management of the funds to mitigate risks [19][20]

Core Viewpoint - The company, Wenzhou Yuanfei Pet Products Co., Ltd., is experiencing growth driven by the pet economy, currency depreciation, and its international expansion strategy [2][3]. Company Overview - Wenzhou Yuanfei Pet Products Co., Ltd. specializes in the research, production, and sales of pet supplies and pet food, with main products including pet snacks, leashes, toys, dry food, and wet food [2][7]. - The company was established on September 27, 2004, and went public on August 18, 2022 [7]. Financial Performance - For the first half of 2025, the company achieved a revenue of 792 million yuan, representing a year-on-year growth of 45.52%, while the net profit attributable to shareholders was 74.16 million yuan, a slight increase of 0.37% [7]. - As of June 30, 2025, the company had a total market capitalization of 5.095 billion yuan [1]. Revenue Composition - The revenue breakdown is as follows: pet snacks 52.09%, pet leashes 24.77%, pet staple food 9.79%, other products 7.72%, and pet toys 5.64% [7]. International Operations - The company generates 85.78% of its revenue from overseas markets, benefiting from the depreciation of the Chinese yuan [3]. - The overseas sales are primarily conducted through its subsidiary in the United States, focusing on pet leashes sold via e-commerce platforms like Amazon and Shopify [3]. Production Strategy - The company has established production bases in Cambodia to enhance its global capacity and reduce labor costs, with an average capacity utilization rate of around 80% [3]. Market Activity - On September 1, the company's stock rose by 5.62%, with a trading volume of 277 million yuan and a turnover rate of 9.64% [1].

本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到证监会指定媒体仔细阅读半年度报告全文。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：001222 证券简称：源飞宠物 公告编号：2025-041 一、重要提示 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 □适用 √不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ 3、公司股东数量及持股情况 单位：股 ■ 持股5%以上股东、前10名股东及前10名无限售流通股股东参与转融通业务出借股份情况 □适用 √不适用 前10名股东及前10名无限售流通股股东因转融通出借/归还原因导致较上期发生变化 □适用 √不适用 4、控股股东或实际控制人变更情况 控股股东报告期内变更 二、公司基本情况 1、公司简介 ■ 2、主要会计数据和财务指标 □适用 √不适用 公司报告期控股股东未发生变更。 实际控 ...

Core Viewpoint - The company, Wenzhou Yuanfei Pet Toy Co., Ltd., is engaged in the research, production, and sales of pet products and food, benefiting from the pet economy and international trade dynamics [2][3]. Company Overview - Wenzhou Yuanfei Pet Toy Co., Ltd. was established on September 27, 2004, and went public on August 18, 2022. The company is located in Pingyang County, Wenzhou, Zhejiang Province [7]. - The main business revenue composition includes pet snacks (52.09%), pet leashes (24.77%), pet staple food (9.79%), other products (7.72%), and pet toys (5.64%) [7]. - As of June 30, 2025, the company reported a revenue of 792 million yuan, a year-on-year increase of 45.52%, and a net profit attributable to shareholders of 74.16 million yuan, a year-on-year increase of 0.37% [7]. Market Position and Financials - The company has a total market capitalization of 4.179 billion yuan, with a trading volume of 65.55 million yuan and a turnover rate of 2.71% on August 27 [1]. - The average trading cost of the stock is 20.62 yuan, with the current stock price fluctuating between resistance at 23.00 yuan and support at 21.21 yuan [6]. International Operations - The company has a significant overseas revenue share of 85.78%, benefiting from the depreciation of the RMB [3]. - The overseas bases in Cambodia are crucial for the company's global production strategy, aimed at reducing labor costs and enhancing market competitiveness [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 20.85% to 15,300, with an average of 5,148 circulating shares per person, a decrease of 17.25% [7]. - Notable new institutional shareholders include Hai Fu Tong Growth Value Mixed Fund and Bo Shi Third Industry Growth Mixed Fund [8].

Group 1 - The stock price of Zhongchong Co., Ltd. on August 22 was 60.78 yuan, down 0.98% from the previous trading day, with a trading volume of 87,600 hands and a transaction amount of 529 million yuan [1] - The company specializes in the research, production, and sales of pet food, including dry food, wet food, and snacks, with over 60% of its revenue coming from overseas markets [1] - In the first half of 2025, the company achieved operating revenue of 2.432 billion yuan, a year-on-year increase of 24.32%, and a net profit attributable to shareholders of 203 million yuan, up 42.56% year-on-year [1] Group 2 - Zhongchong Co., Ltd. participated in the 27th Asia Pet Expo, showcasing several new pet food products [1] - As the only Chinese company with pet snack factories in the United States and Canada, Zhongchong plans to establish a second production line in Canada by the second half of 2025 and a second factory in the U.S. by 2026 to enhance local supply capabilities in North America [1] - On August 22, the net outflow of main funds was 50.5965 million yuan, accounting for 0.27% of the circulating market value, while the cumulative net inflow of main funds over the past five days was 16.1013 million yuan, representing 0.09% of the circulating market value [1]

Core Viewpoint - The company, Wenzhou Yuanfei Pet Toy Co., Ltd., is experiencing fluctuations in stock performance and is positioned to benefit from trends in the pet economy, cross-border e-commerce, and the depreciation of the RMB [2][3]. Company Overview - Wenzhou Yuanfei Pet Toy Co., Ltd. specializes in the research, production, and sales of pet products and pet food, with main products including pet snacks, leashes, toys, dry food, and wet food [2][7]. - The company is located in Pingyang County, Wenzhou, Zhejiang Province, and was established on September 27, 2004, with its stock listed on August 18, 2022 [7]. - The revenue composition of the company includes 46.31% from pet snacks, 34.81% from leashes, and 3.89% from pet injection-molded toys [7]. Financial Performance - For the first quarter of 2025, the company achieved a revenue of 335 million yuan, representing a year-on-year growth of 36.30%, while the net profit attributable to the parent company was 25.368 million yuan, a decrease of 30.57% year-on-year [7]. - The company has distributed a total of 120 million yuan in dividends since its A-share listing [8]. Market Position and Strategy - The company has a significant overseas revenue share of 85.78%, benefiting from the depreciation of the RMB [3]. - The overseas bases in Cambodia are crucial for the company's global capacity layout and market competitiveness, aimed at reducing labor costs and addressing international trade friction [3]. - The company’s main overseas sales are conducted through its subsidiary in the U.S., focusing on pet leashes sold via e-commerce platforms like Amazon and Shopify [2][3]. Trading Activity - On August 22, the stock price of Yuanfei Pet fell by 2.41%, with a trading volume of approximately 93.42 million yuan and a market capitalization of 4.169 billion yuan [1]. - The stock has seen a net outflow of 4.5073 million yuan from major investors, indicating a lack of strong control by major shareholders [4][5].

Group 1 - The company held its third board meeting on August 11, 2025, where all seven directors attended, and the meeting complied with legal and regulatory requirements [2][4]. - The board approved the adjustment of the 2025 restricted stock incentive plan, reducing the number of initial grantees from 62 to 53 due to voluntary withdrawals, while maintaining the total number of shares at 2,009,540 [3][25]. - The board also approved the first grant of restricted stock to the 53 eligible grantees at a price of 9.63 yuan per share, with the grant date set for August 11, 2025 [5][32]. Group 2 - The company decided to postpone the completion date of the "Research and Development Center Construction Project" to December 31, 2026, due to delays in implementation and adjustments in project planning [7][14]. - The board believes that this postponement will enhance the efficiency of fund utilization and align with the company's long-term development needs [7][16]. - The postponement does not require shareholder approval as it falls within the board's authority [7][16]. Group 3 - The company raised a total of 467.51 million yuan from its initial public offering in August 2022, with a net amount of 408.71 million yuan after deducting issuance costs [13]. - As of July 31, 2025, the company has invested 131.28 million yuan in its fundraising projects, with the total commitment amounting to 171.27 million yuan [13][14]. - The company has established a dedicated account for the management of raised funds, ensuring compliance with regulatory requirements [13].