中宠股份：双引擎增长前景清晰；全球产能布局助力缓解出口波动，自有品牌贡献增长弹性

Dual-engine growth with a clear path ahead 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 [Table_Stock] China Pet Foods 002891.SZ 002891 CH [Table_Industry] EQUITY: Farming, Forestry, Animal Husbandry, and Fishery Global capacity footprint helps cushion export volatility, while proprietary brands add growth upside [TABLE_SUMMARY] Initiate at Buy with a TP of CNY54, implying 41% upside Driven by scaling proprietary brands and upcoming North American capacity, we forecast the company's revenue and net profit to grow at CAGRs o ...