中宠股份_双引擎增长进阶行业龙头；新给出买入评级

China Pet Foods (A) Evolution into pet food leading player with dual-engine growth; our new Buy Initiating Coverage: BUY | PO: 66.00 CNY | Price: 49.93 CNY Initiate Buy rating on China Pet Foods with PO of RMB66 Accessible version We initiate on China Pet, a leading player in China's pet food industry, at Buy with PO of RMB66 (32% upside). The company is evolving from a well-established OEM leader into a dual-engine driven pet food name with rising self-brand. We see a solid 3-year revenue CAGR of >20% with ...