Core Viewpoint - The company, Reap Bio (300119), is deeply engaged in the pet medicine sector, holding 18 new veterinary drug registration certificates to meet diverse medical needs in pet healthcare [1] Group 1: Product Development - The company focuses on developing key products such as pet vaccines and deworming medications, including advanced products like the cat quadrivalent mRNA vaccine and dog quadrivalent vaccine [1] - Ongoing research includes vaccines for feline infectious peritonitis and various internal medicine and deworming drugs, indicating a strong pipeline of innovative products [1] Group 2: Ecosystem and Collaboration - The company aims to build a comprehensive pet health ecosystem through deep collaboration among its three strategic segments: Reap Bio, Ruipai Pet Hospital, and Zhongrui Supply Chain [1] - This collaboration creates a complete value chain that spans "research - validation - distribution - service," enhancing the overall effectiveness of the company's offerings [1] Group 3: Innovation and Market Strategy - Reap Bio constructs a technological moat through innovative products and continuous breakthroughs in technical barriers, supported by a network of over 10,000 terminals [1] - The company emphasizes a feedback loop of "clinical validation - demand response - precise research and development" to drive innovation [1] - Zhongrui Supply Chain is positioned as a global channel engine, connecting the production, distribution, and consumption ends of the market [1]