□ 本报记者宋晓华 宠物成为人类重要的情感伴侣，蓬勃发展的"宠物经济"正成为新的外贸增长点。从美味零食到潮流装 备，宠物经济的繁荣发展正推动产业链不断延伸，江苏制造的各类宠物用品出口正劲。 凭借先进技术与成熟产业体系，各类品质优良的宠物食品、玩具、服装等产品正从江苏走向全球。日 前，博仕宠物食品(淮安)有限公司车间内，一批打包完成的20吨宠物食品发往南美洲，这是淮安宠物食 品首次开拓南美市场。"今年以来，我们已出口货物225.8吨，同比增长5.1%，主要出口东南亚、欧美等 国家和地区，目前订单已经排到了11月份。"该公司外贸经理罗月介绍。 淮安鑫泉户外运动用品有限公司的一批宠物用品近日也整装待发，色彩缤纷的宠物狗颈圈、牵引绳、时 尚小衣服和保暖袜子等货物顺利通关运往海外。面对全球宠物用品需求多元化的机遇，鑫泉公司积极布 局宠物牵引防护及服饰类产品。今年上半年，该公司宠物用品出口同比增长170.8%。据悉，上半年， 淮安市宠物用品出口至全球20多个国家和地区，货物总值5837.9万元，同比增长40.2%。 萌宠经济催生出全新赛道。日前，江苏居友智能家居用品有限公司生产的一批木质宠物小跳台被装车运 往口岸，奔赴海 ...

Market Overview - The Shanghai Composite Index rose by 0.4%, while the CSI 300 increased by 0.7%, the STAR Market 50 by 0.8%, the CSI 1000 by 1.1%, and the ChiNext Index by 1.8%. The Hang Seng Index decreased by 0.1% [5] - The best-performing sectors included defense and military (+2.7%), communication (+2.4%), electronics (+2.2%), pharmaceutical and biological (+1.8%), and steel (+1.4%). The worst-performing sectors were banking (-0.4%), transportation (-0.4%), environmental protection (-0.3%), public utilities (-0.2%), and construction decoration (-0.2%) [5] - The total trading volume in the Shanghai and Shenzhen markets was 15,394 billion, with a net inflow of 1.855 billion Hong Kong dollars from southbound funds [5] Important Recommendations Oriental Tower (002545) - The recommendation logic is based on the sustained high prosperity of global potash fertilizer, with the company actively expanding production, which is expected to lead to record-breaking performance [6] - Revenue projections for 2025-2027 are 4,417 million, 4,944 million, and 5,864 million, with growth rates of 5.26%, 11.93%, and 18.61% respectively. Net profit is projected at 1,082.6 million, 1,198.9 million, and 1,540.31 million, with growth rates of 91.86%, 10.74%, and 28.48% respectively [6] - Recent price increases in potash fertilizer are seen as a catalyst for growth [6] Source Pet (001222) - The recommendation logic highlights the company's leadership in pet leashes and the rapid growth of its self-owned brand, which is expected to open up valuation space [7] - Revenue projections for 2025-2027 are 1,671 million, 2,067 million, and 2,458 million, with growth rates of 27.59%, 23.66%, and 18.93% respectively. Net profit is projected at 166 million, 209 million, and 251 million, with growth rates of 1.26%, 25.45%, and 20.43% respectively [7] - The growth of the OEM business and the acceleration of the self-owned brand are seen as key drivers [7] Important Insights Strategy Report - The core viewpoint indicates that since 2018, only a few assets have outperformed gold, including certain cryptocurrencies and specific sectors like precious metals and small-cap stocks [8] - The report suggests that while some assets may temporarily outperform gold, maintaining that performance over the long term is challenging, thus emphasizing gold's long-term allocation value [8] - The report recommends focusing on high-dividend stocks and emerging technology sectors for long-term investments, while short-term attention should be on financial and technology sectors [9] Bond Market Research - The issuance of land reserve bonds is expected to have limited benefits for state-owned and private enterprises, primarily improving liquidity for urban investment platforms [10] - The report emphasizes a more granular analysis at the provincial level for potential interest rate spread opportunities [10] Important Comments Chalk (02469) - The introduction of the AI test preparation system is expected to help the company regain market share and enhance profits, marking a pivotal moment for growth [12] - Revenue forecasts for 2025-2027 are 2,805 million, 2,914 million, and 3,027 million, with net profit projections of 391 million, 434 million, and 473 million, reflecting growth rates of 7.94%, 10.89%, and 9.16% respectively [12] - The AI product's competitive pricing and market share recovery are seen as critical catalysts for future profitability [13]