佩蒂股份(300673) - 佩蒂股份调研活动信息

Group 1: Industry Overview - The pet industry has a long history of over a hundred years abroad, evolving through various stages to become stable and mature [2] - Key trends in the overseas market include the shift towards pet snacks as staple food and consumption upgrades, with pet snacks growing faster than the industry average [2] - In the domestic market, there is a rapid expansion in total market volume, with a noticeable trend towards high-quality development and consumption upgrades [2] Group 2: Company Strategy and Focus Areas - The company views its proprietary brand business as a strategic focus, with key projects for 2023 including transforming the "Jueyan" brand from a product-focused to a brand-focused approach [2] - The "Haoshijia" brand aims to enhance user experience, focusing on mid-to-high-end products, with its wet food becoming an online bestseller [2] - Investment in new media marketing resources is prioritized to improve product penetration and deepen consumer recognition and experience [2] Group 3: Production and Global Strategy - The company implements a "dual-wheel drive" development strategy, with global layout as a core competitive advantage [3] - Current production capacity includes factories in Wenzhou and Jiangsu (China), Vietnam, Cambodia, and New Zealand, focusing on various pet food products [3] - The company's vision is to become an excellent builder of a harmonious and healthy ecosystem for pets, with a mission to upgrade pet health standards globally [3] Group 4: Financial Goals and Market Expectations - The financial targets for proprietary brands are primarily assessed through revenue, with additional goals including average transaction value, repurchase rates, and growth in high-end users [3] - The domestic market's annual targets are set based on growth potential analysis for each business line, with quarterly reviews to track progress [3] - Expectations for the overseas market indicate stable growth, with normal operations in factories and logistics [3] Group 5: Product and Market Insights - The gross profit margin for proprietary brands varies significantly between online and offline channels, with online margins being notably higher [4] - The New Zealand factory specializes in high-meat content products, recognized globally for quality, leading to a premium for origin [4] - Offline sales primarily occur through B2B channels, with a focus on product display in retail stores [4]