Yuanfei pet will be available on A shares: selling dog ropes to earn 300 million independent brands a year, less than 1%

Cover Journalist Xiong Yingying

On July 21, the official website of the Securities and Futures Commission issued the approval of the first public issuance of shares in the first public issuance of the shares of Wenzhou Yuanfei Pet Toy Products Co., Ltd. (referred to as "Yuanfei Pets"), which also means that another pet supplies company will log in to the Shenzhen Stock Exchange's main board to list Essence

Yuanfei Pet focuses on the research and development and production of pet supplies and pet foods. The main products include pets such as pet traction, pet injection molding toys, and pet snacks such as dog bite glue. Among them, pet traction sets mainly include traction ropes, chest straps, collar, etc., which are the company's most important source of income.

The prospectus shows that the company sells more than 20 million pets for pets a year. From 2018 to the first half of 2021, the sales appliances were 237 million yuan, 330 million yuan, 352 million yuan, and 295 million yuan, respectively, accounting for the main business revenue ratio increased from 54.81%to 61.90%.

From the perspective of sales revenue areas, the products of source pets are mainly exports. Over the years, overseas market revenue accounts for more than 95%. Among them, the North American and European markets are the main sales areas, with total sales revenue accounted for more than 80%of the main business revenue. From January to June last year, the company's sales revenue to the top five customers was 346 million yuan, accounting for more than 70 % of the total revenue, and five were foreign companies. Among them, Wal -Mart is the fourth largest customer.

In contrast, the domestic market accounts for relatively low sales in the country. From 2018 to the first half of 2021, revenue proportion of revenue is only 2.64%, 5.09%, 4.50%, and 4.26%. The company said that the main reason is that the domestic pet supplies market is still in its infancy. The company's domestic market is mainly exploring and developing, and domestic sales revenue and proportion are low.

Although the Chinese pet industry has developed shortly, it has benefited from the development of the national economy and consumption transformation and upgrading. In recent years, the domestic pet market has grown rapidly. According to the "White Paper in China's Pet Industry in 2020", the consumer market size of cats and dogs in my country increased from 14 billion yuan in 2010 to 206.5 billion yuan in 2020, with an average annual growth rate of 30.88%. Essence

However, at present, domestic pet supplies manufacturers are dominated by foreign sales, and their own brand business lacks development. Taking Yuanfei Pets as an example, during the reporting period, the company's overseas overseas sales revenue, sales quantity, and profitability of profits were on the rise, while their own brand sales revenue accounted for less than 1%.

To this end, the company said that on the basis of promoting existing brands, it will increase its own brand operations of new products, open up various channels online and offline, and attract high -quality partners to enhance consumers' awareness of the brand.

- END -