每经记者｜范芊芊 舒冬妮 每经编辑｜文多 早上8点20分，在长沙生活的小王将自家小狗送到了"宠物幼儿园"，随后匆忙赶去上班，下班后再来接它。将自家宠物送去托管，小王说是因为怕小狗在家 无聊，同时想让它尝试一些新事物。 在上海，市中心的一家宠物健身房开业两个多月，已经有了200多位会员。 为宠物购买托管、训练、健身服务的年轻人并不少。淘宝今年2月末发布的《2025淘宝三大养宠趋势关键词》就显示，健身和"上学"是当下养宠的两大关键 词。 正是这些年轻人养宠物时的新需求，成为宠物游泳馆、宠物幼儿园、宠物健身房等新兴业态在各大城市出现的原因。 近日，《每日经济新闻》记者采访了宠宠欲动创始人周广旭、GOGOGYM创始人杨祖义。今年下半年，他们一个在温州开了家宠物幼儿园，一个在上海开 了国内首家宠物健身房。在他们眼中，伴随国内宠物市场发展，托管、训练、健身等新业态确实存在需求，但行业也面临着收支平衡难或市场不成熟的挑 战。 以下是周广旭和杨祖义的讲述原文，记者仅作整理。 我们的目标客户不是所有人，而是那10%的人 ■宠宠欲动创始人 周广旭 "可我看到他们（上海同行）店里当天只有三四只狗狗，心里直打鼓——那么高的房租和人工 ...

2024年初的南京，90后白领小严对着工资条轻轻叹气。朝九晚五的行政工作稳定却平淡，"每个月拿着 固定工资，想攒点钱都难"，她萌生了搞副业的念头。摆摊怕风吹日晒，写小说缺文笔功底，试了几个 方向都没成，直到刷到跨境POD模式的介绍，她仿佛发现了新大陆。 "纸上谈兵容易，实操起来全是坑。" 小严的跨境POD创业刚起步就卡住了： 小严骨子里就爱折腾新事物，周末总泡在创业论坛里研究风口。对比多种副业后，她锁定了跨境POD 模式：按需定制，不用囤货，有订单再生产，启动成本低，特别适合本金不充足但想尝试跨境创业的中 小卖家。定制商品的高溢价也让她心动——普通抱枕卖15美元，印上宠物头像的定制款能卖到25美元， 就算每月只出十几单，也是笔不错的外快。 找工厂时，国内大多工厂只接批量订单，定制小单根本没人接，好不容易找到一家小厂，不仅交货周期 要7天，质量和售后还没保障；物流更头疼，国内发货到美区要15-20天，用户催单消息刷满后台，退单 率高，和本土店3-5天的时效比，毫无竞争力；最累的是"全能打杂"——小严下班后要拍TikTok短视频 引流、回复客户咨询，还要盯工厂生产、查物流轨迹，经常忙到凌晨，连轴转了一个月，小严第 ...

Industry Overview - The "pet economy" in China has entered a rapid growth phase, with various policies and activities being launched to support this sector, leading to a surge in related stocks. The Wind Pet Economy Index has increased by over 37% year-to-date as of September 24 [1] - The pet market size in China has grown from 97.8 billion yuan in 2015 to 592.8 billion yuan in 2023, with a compound annual growth rate (CAGR) of 25.4%. It is expected to reach 811.4 billion yuan by 2025, and potentially 1.15 trillion yuan by 2028 [2][3] Market Demand and Growth Potential - The current pet penetration rate in Chinese households is still lower compared to developed markets, indicating strong future growth potential for the pet economy. Key segments such as pet food, medical care, and cleaning products are currently the largest and fastest-growing areas [3] - There is significant room for growth in the pet industry, with reports suggesting that the market size could double in the coming years [2] Policy Support and Local Government Initiatives - Local governments are increasingly providing policy support for the pet economy. For instance, Wuxi, Jiangsu, aims to exceed 3 billion yuan in pet-related industry scale by 2027, while Suzhou, Anhui, is focusing on technological innovation and e-commerce development in the pet sector [3] - Zhejiang province has proposed to develop smart pet products and encourage the use of advanced technologies in product innovation [3] Corporate Activities and Investments - Several listed companies are actively investing in the pet economy. For example, Huangshanghuang announced a 494.7 million yuan acquisition of a 51% stake in a freeze-dried food manufacturer, which will supply products for pet food brands [4] - Three squirrels have established two wholly-owned subsidiaries focused on pet food, with a registered capital of 5 million yuan for one of them [4] - Jinhai Biological has launched a pet care app utilizing a self-developed emotional multimodal model, indicating a trend towards technology integration in pet care [4] - Delisi has signed a strategic cooperation agreement with food companies to collaborate on product supply, market expansion, and freeze-dried pet food development [5]

Core Insights - The "Pet Economy Index" reached a historical high on September 1, with a year-to-date increase of over 44%, indicating strong performance among popular sectors [1][3] - Several companies, including Jinhe Biological, Delisi, and Yongli Co., are actively seeking to enter the pet economy sector, which is viewed as a high-potential market [1][5] Market Performance - The "Pet Economy Index" has shown significant growth, with stocks like Zhejiang Zhengte rising over 90%, and others like Yuanfei Pet, Zhongchong Co., and Shitou Co. increasing by over 60% [3] - Financial reports from pet food companies indicate solid fundamentals, with revenues for Guibao Pet, Zhongchong Co., and Lusi Co. reaching 3.221 billion, 2.432 billion, and 391 million respectively, showing year-on-year growth rates of 32.72%, 24.32%, and 11.32% [3] Fund Holdings - As of the end of June, public funds held 18.25% of Guibao Pet, making it a top holding for several funds, while Zhongchong Co.'s public fund ownership increased from 8.06% to 15.74% [4] - Yuanfei Pet's public fund ownership surged from 1.69% to 15.27% during the same period, indicating growing interest from institutional investors [4] Industry Trends - The domestic pet market is characterized by growth potential and low industry concentration, with leading brands increasing their market share [6] - Companies are focusing on product innovation and quality supply chains to meet the evolving demands of pet owners [6] Company Initiatives - Jinhe Biological announced the establishment of a wholly-owned subsidiary for pet technology, launching an intelligent pet care app that utilizes a multimodal emotional analysis model [7] - Delisi has entered into strategic partnerships for product development and market expansion in the pet food sector [7] - Yongli Co. is actively developing smart pet appliances, while Hasi Lian has expanded its business scope to include pet food sales [8]

Group 1 - The core viewpoint of the articles highlights the robust growth potential of the pet economy in China, with significant profitability reported by leading companies in the sector [1] - The market size of pet-related businesses in China has grown from 97.8 billion yuan in 2015 to 592.8 billion yuan in 2023, with a projected increase to 811.4 billion yuan by 2025, reflecting a compound annual growth rate of 25.4% [1] - The demographic shift towards younger pet owners, particularly those born in the 1990s and 2000s, is driving the demand for higher quality and personalized pet care products and services [1] Group 2 - In the pet food sector, the focus has shifted from basic needs to health and precision, with brands offering customized dietary services tailored to individual pet needs, despite higher prices [2] - The pet supplies market is experiencing a transformation towards "smart and humanized" products, such as automatic feeders that can be controlled remotely, catering to busy pet owners [2] - The rise of "pet fashion" and themed toys reflects the aesthetic desires of younger pet owners, while also serving as emotional expressions of their bond with pets [2] Group 3 - The release of consumer potential is leading to an extension of the pet economy's industrial chain, with traditional appliance and beauty companies entering the market with pet-specific products [3] - Cross-industry collaborations are enriching the pet consumption landscape, with sectors like tourism and dining creating pet-friendly experiences [3] - The "it economy" is emerging as a new growth point in the consumer market, driven by the personalized needs of young pet owners and fostering innovation across industries [3]

Group 1 - The core viewpoint of the articles highlights Tianyuan Pet's strong financial performance and strategic initiatives in the pet industry, including revenue growth and expansion into online sales channels [1][2] - In the first half of 2025, Tianyuan Pet achieved a revenue of 1.435 billion yuan, representing a year-on-year increase of 14.59%, and a net profit attributable to shareholders of 37.4594 million yuan, up 20.14% year-on-year [1] - The company plans to distribute a cash dividend of 1 yuan per 10 shares to all shareholders [1] Group 2 - Tianyuan Pet is actively expanding its product offerings in the pet industry, which includes a wide range of products such as pet bedding, cat climbing frames, pet food, toys, clothing, and electronic pet supplies [1] - The company has established a robust supply chain management system and a global sales network, positioning itself as a pioneer in the domestic pet industry with over 20 years of experience [1] - The company is focusing on enhancing its online sales capabilities through mergers and acquisitions, recognizing the importance of online channels in the rapidly growing domestic pet market [1][2] Group 3 - Tianyuan Pet has announced plans to acquire an 89.7145% stake in Guangzhou Taotong Technology Co., Ltd. for a total price of 688 million yuan, which will be financed through a combination of share issuance and cash payment [2] - Taotong Technology is a comprehensive e-commerce service provider that collaborates with well-known global brands, offering services such as brand consulting, e-commerce operations, consumer insights, and supply chain management [2] - The acquisition is expected to enhance Tianyuan Pet's online business capabilities and optimize its revenue structure, aligning with the company's strategy to strengthen its presence in the domestic market [2]

Core Insights - Tianyuan Pet reported a revenue of 1.435 billion yuan for the first half of 2025, representing a year-on-year growth of 14.59% [1] - The net profit attributable to shareholders reached 37.4594 million yuan, up 20.14% year-on-year, with basic earnings per share increasing by 23.66% to 0.3076 yuan [1] - The growth in performance is attributed to the ongoing expansion of the pet economy and the upgrading of pet industry consumption [1] Business Performance - The pet supplies segment generated 728 million yuan in revenue, a slight increase of 0.63% year-on-year [1] - The pet food segment achieved revenue of 668 million yuan, reflecting a growth of 7.26% year-on-year [1] Market Trends - According to the "2025 China Pet Industry White Paper," the urban pet (dog and cat) population is projected to reach 76.89 million by 2024, a growth of 2.4% from 2023 [1] - The market size for urban pet consumption in China is expected to be 300.2 billion yuan in 2024, marking a 7.5% increase from 2023 [1] - The number of pet dogs is anticipated to be 52.58 million, up 1.6%, while pet cats are expected to reach 71.53 million, an increase of 2.5% [1] Company Overview - Tianyuan Pet, established in 2003, focuses on pet supplies and pet food, offering a wide range of products including pet beds, cat trees, toys, clothing, smart pet products, and various pet foods [2] - The company has proprietary brands in pet food such as "New Era" and "Tianyuan It World," with products primarily in the pet snack category [2] - In pet supplies, Tianyuan Pet has five main brands, including Petstar and PPlink, focusing on various product categories [2] Strategic Initiatives - In late May, Tianyuan Pet announced plans to acquire nearly 90% of Taotong Technology for 688 million yuan to enhance its online retail business [3] - Taotong Technology is an e-commerce service provider that offers comprehensive services including brand consulting and supply chain management [3] - The company aims to strengthen its e-commerce operations and brand development, focusing on building a robust channel for its proprietary brands [3]

Core Insights - The 27th Asia Pet Expo in Shanghai highlights the booming pet economy in China, driven primarily by the younger generation, with 45.3% currently owning pets and over half having previous pet ownership experience [1][2] Market Trends - The pet market is experiencing robust growth, with a significant increase in investment across various segments such as online platforms, pet healthcare, and pet products [1][6] - The pet economy index has risen by 28.11% this year, outperforming the broader market, indicating strong investor interest [1][6] Consumer Behavior - Young pet owners are increasingly viewing pet ownership as a lifestyle choice, with a shift from basic needs to emotional, refined, and scientific consumption [3][4] - Nearly 70% of pet owners spend an average of 800 yuan per month on pet care, while higher spending brackets (801-1500 yuan and above 1500 yuan) account for 17.2% each [4] Industry Dynamics - The pet industry is evolving from a focus on quantity to value, with a notable trend towards premiumization and localization in sectors like food, healthcare, and insurance [7] - Companies are adapting their strategies to align with consumer preferences, such as collaborating with popular IPs to enhance brand visibility [3] Investment Landscape - The pet industry has seen 634 financing events, with online platforms leading at 27.3%, followed by pet healthcare and products [6] - The sector is expected to provide structural growth opportunities, with a focus on companies that demonstrate strong brand, channel penetration, and product capabilities [7]

Group 1 - The pet industry is currently in an upward cycle, with a total sales figure of $66 billion for the year, reflecting a 2.1% increase compared to the previous year [5] - There are over 1 billion pets globally, and the number of households owning pets is increasing, with nearly one-fourth of households owning cats [5] - The Chinese pet market is driven by emotional needs, leading to an increase in pet ownership despite declining birth rates [5] Group 2 - The Chinese pet market has entered a surplus era, with supply growth maintaining around 5.8% while demand growth has slowed from 11% to 3.2% [6] - The fast-moving consumer goods (FMCG) market shows similar trends, with 6.3% growth in the number of FMCG stores since 2019, indicating intense competition [6] - The pet industry is experiencing a shift towards smaller, more convenient retail formats, mirroring trends in the FMCG sector [6] Group 3 - Global inflation is influencing consumer preferences, with a growing inclination towards cost-effective products in international markets [7] - The domestic market is developing faster than international markets, with an increasing focus on online channels for consumption [7] - The growth of smart pet products aligns with technological advancements, while health and wellness products will emphasize freshness and functionality in the future [7]

Core Insights - Zhao Lusi's unconventional live streaming approach has created a significant commercial impact, selling out seven years of inventory for products she casually mentioned [1][3] - The backlash against her management led to a unique form of "anti-commercial" marketing, where her casual, non-sales-driven streams resulted in a 300% increase in sales for local products [3][4] - The phenomenon reflects a shift in consumer trust, with 92% of viewers preferring affordable products that celebrities genuinely use, indicating a new marketing strategy in the entertainment industry [4] Group 1 - The live streaming trend initiated by Zhao Lusi has disrupted traditional sales methods, showcasing a paradox where less commercial intent leads to higher sales [3][4] - The legal implications of her situation suggest a potential shift in labor relations within the entertainment industry, as she may leverage her platform to advocate for farmers and rural products [6] - The unexpected synergy between her influence and rural revitalization projects highlights a new avenue for artists to engage with social causes while navigating industry challenges [6] Group 2 - Zhao Lusi's case exemplifies a broader trend of new-generation artists challenging traditional power dynamics in the entertainment sector, potentially reshaping labor relations and contract management [6] - The rise of "wild endorsers" like Zhao Lusi indicates a growing consumer preference for authenticity over polished marketing, which could redefine how brands approach celebrity endorsements [4]