Investment Rating - The report does not provide a specific investment rating for the company [1] Core Insights - The company plans to issue shares and pay cash to acquire assets, specifically targeting "Hangzhou Gao Ye Jia You Hao Duo Mao Pet Food Co., Ltd." The transaction details are expected to be disclosed within 10 trading days [1] - Gao Ye Jia, established in 2018, has become a leading domestic pet food and supplies brand, with a projected GMV exceeding 600 million yuan in 2024, and a significant growth in its cat litter brand, Xu Cui Hua, which saw a 247% year-on-year increase [2] - The company is enhancing its brand portfolio through external expansion, with a focus on maintaining the original management team post-acquisition, which is expected to contribute significantly to profits in 2026 [2] Financial Projections - The company is expected to achieve a net profit of 240 million yuan, 290 million yuan, and 360 million yuan for the years 2025, 2026, and 2027 respectively, with corresponding PE ratios of 27.4X, 22.1X, and 18.2X [3] - Total revenue is projected to grow from 1,337 million yuan in 2023 to 2,828 million yuan by 2027, reflecting a compound annual growth rate [3] - The gross profit margin is expected to improve from 17.0% in 2023 to 20.9% in 2027, indicating enhanced operational efficiency [3] Important Financial Metrics - The company's total revenue for 2025 is estimated at 2,009 million yuan, with a year-on-year growth rate of 11.8% [3] - The net profit attributable to the parent company is projected to be 235 million yuan in 2025, representing a 9.2% increase from the previous year [3] - The return on equity (ROE) is expected to rise from 5.8% in 2023 to 17.3% in 2027, showcasing improved profitability [3]

【 导读 】依依股份筹划购买 高爷家 公司 股权 ，股票 自10月14日开市起 停牌 中国基金报记者 闻言 10月13日 晚间 ，依依股份 发布 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 （ 以下简称高爷家公 司 ）。 由此可见，依依股份意图加大对高爷家公司的掌控力度。此前，依依股份通过参与成立产业 基金布局宠物赛道， 已经投资了 高爷家公司 。 对此，依依股份计划自 10月14日 开市 起停牌，预计在不超过10个交易日内披露交易方案。 截至10月13日收盘，依依股份股价报34.85元/股，涨幅达1.54%，总市值为64.44亿元。 拟收购标的公司全部或部分股份 中宠股份、依依股份、来伊份间接入股 公告显示，依依股份与本次交易的主要交易对方签署了《发行股份及支付现金购买资产意向 协议》，初步达成了购买资产意向，初步确定的交易对方为 高爷 家公司的全部或部分股东。 天眼查显示，高爷家公司的实控人为彭瀚，持股比例 为 36.2708%；闻光凯、董小松分别为 第二、第三大股东，持股比例分别为18.6042%、8.3333%。 依依股份公告称 ...

Core Viewpoint - Yiyi Co., Ltd. is planning to acquire equity in Gao Ye Company, indicating a strategic move to strengthen its control over the pet food sector, with trading suspension effective from October 14 [2][4]. Group 1: Acquisition Details - Yiyi Co., Ltd. has signed a letter of intent for the acquisition of all or part of the shares of Gao Ye Company, with the main transaction counterparties being the shareholders of Gao Ye Company [4]. - The controlling shareholder of Gao Ye Company is Peng Han, holding 36.27% of the shares, followed by Wen Guangkai and Dong Xiaosong with 18.60% and 8.33% respectively [4][6]. - The final transaction price for the shares will be determined based on an evaluation report from a qualified appraisal agency [9]. Group 2: Strategic Intent - Yiyi Co., Ltd. aims to enhance its control over Gao Ye Company, which it has previously invested in through an industry fund [9]. - The company has been strategically investing in the pet industry, including projects related to cat litter, pet food, and pet healthcare products [9][12]. - Yiyi Co., Ltd. reported a revenue increase of 9.34% year-on-year to 888.38 million yuan in the first half of 2025, with a net profit increase of 7.37% to 102.20 million yuan [12][13]. Group 3: Market Position - Gao Ye Company is recognized as a leading brand in the domestic cat food market, while its product line includes high-quality pet food and supplies [12]. - Yiyi Co., Ltd. is a prominent player in the hygiene care products sector, with extensive experience in producing and selling pet hygiene products [12].