Yuanfei pet soared 43.98% on its first day of listing

The pet economy is still booming.

On August 18, Yuanfei pet officially landed on the main board of Shenzhen Stock Exchange. According to the announcement, all of the 34.1 million RMB ordinary shares issued by Yuanfei pet in the initial public offering are new shares and do not involve the transfer of old shares. On the same day, the opening price of the stock was 16.45 yuan, closing at 19.74 yuan, an increase of 43.98%, and the total market value was 2.692 billion yuan.

Yuanfei pet's performance has grown steadily in recent years. According to the prospectus, from 2019 to 2021, it achieved revenue of 515 million yuan, 608 million yuan and 1.069 billion yuan respectively, with a compound annual growth rate of 44.09%. Among them, traction appliances accounted for more than 57% of the main business income.

On the same day, the company also announced its mid year results. According to the announcement, its revenue in the first half of the year was 548 million yuan, a year-on-year increase of 14.45%; The net profit was 111 million yuan, with a year-on-year increase of 71.85%.

Yuanfei pet said that the increase in revenue in the first half of the year was mainly due to the good market foundation and the company's operating ability. It is mentioned that according to the industry data released by the American Pet Products Association (AppA) on April 19, the sales of pet food in 2021 increased by 13.6% year-on-year; The sales of pet products, live animals and over-the-counter drugs (OTC) increased by 17.80% year-on-year, far exceeding the forecast of 2020 (5.8%), and is expected to continue to grow in 2022. The good downstream market development provides a market basis for the company's revenue growth from January to June 2022.

Overseas is the main market of Yuanfei pet. Data show that Yuanfei's pet business is mainly export. From 2019 to 2021, the company's export revenue accounted for 94.91%, 95.50% and 96.76% of its main business income respectively. Among them, North America and Europe are the main sales regions, and the total sales revenue accounts for more than 80% of the main business revenue. It is understood that the company has long-term cooperation with Wal Mart, Carrefour, Petsmart, PetCO, zeedog and other international chain brands.

The domestic market has also become a new possibility for Yuanfei pets.

According to the 2022-2023 China pet industry development and consumer research report released by AI media consulting, the scale of China's pet economy industry will reach 493.6 billion yuan in 2022, a year-on-year increase of 25.2%, and it is expected that the market scale will reach 811.4 billion yuan in 2025.

The performance of other pet enterprises also increased in the first half of the year. Among them, Petti shares is expected to achieve a net profit of 85-93 million yuan in the first half of the year, an increase of 31% - 43.2% year-on-year. The semi annual report of zhongchong shares shows that its revenue in the current period was 1.59 billion yuan, an increase of 26.4% year-on-year; The non net profit deducted was 66.89 million yuan, an increase of 20.4% year-on-year.