行业政策与环境宠物行业竞争日趋激烈，2025年以来并购整合加速，如依依股份（001206）终止收购高 爷家事件显示行业资本退出路径转向并购。据中商产业研究院报告，2024年中国宠物行业市场规模达 3453亿元，预计2025年增至3626亿元，行业格局趋于稳定。2026年宠物经济趋势包括产品设计美学化、 智能AI深度融合及品牌出海，可能对平台型公司带来影响。 财务状况波奇宠物目前流动性较低，2026年1月日均成交额常低于50万美元，易放大价格波动。公司最 新财报数据截至2022财年，显示GMV增长19.4%但净亏损仍存，后续财务表现需关注更新公告。 以上内容基于公开资料整理，不构成投资建议。 经济观察网 波奇宠物近期股价波动显著，长期承压，公司声明将积极维持上市地位。宠物行业竞争日 趋激烈，行业格局趋于稳定，新趋势可能对平台型公司带来影响。公司目前流动性较低，后续财务表现 需关注更新公告。 股票近期走势根据百度百科2026年2月12日的词条，波奇宠物（BQ.US）是中国宠物综合服务平台， 2020年在美国纽交所上市，2022年被美国证监会列入"预摘牌"名单后，公司声明将积极维持上市地位。 近期股价波动显著，20 ...

2026年2月10日晚，国内宠物卫生护理龙头依依股份发布公告，宣布终止筹划以发行股份及支付现金购 买的方式向彭瀚、瀚川生物、闻光凯等19名交易对方购买其合计持有的杭州高爷家有好多猫宠物食品有 限责任公司100%股权事项。这场历时近四个月的收购计划最终因标的公司经营情况与预期不符而告 终。 依依股份 高爷家经营情况与预期不一致 对于终止原因，依依股份在公告中表示，由于高爷家在2025年"双十一"活动中对猫砂的销售模式进行了 调整，以及2025年下半年以来推广猫粮新品的前期投入，导致高爷家2025年经营情况与本次交易筹划期 初的预期发生了一定变化，从而导致公司与交易对方未能就本次交易估值等核心商业条款达成一致意 见。 为切实维护上市公司和广大投资者长期利益，经公司与交易各相关方友好协商、认真研究和充分论证， 基于审慎性考虑，决定终止本次交易事项，并与交易对方签署相关终止协议。依依股份还表示，目前公 司生产经营情况正常，本次交易终止不会对公司的生产经营和财务状况造成重大不利影响，不存在损害 公司及中小股东利益的情形。 2月11日，宣布终止收购的次日，依依股份随即召开投资者说明会，就市场关切的核心问题进行了集中 回应 ...

近期事件 近期宠物消费市场热度持续，或间接影响行业关注度。依依股份（001206）于2月10日宣布终 止收购高爷家，并聚焦宠物智能用品与医疗赛道，反映行业整合与战略调整。同时，"猫咪语言"APP在 1月底登顶苹果付费榜，单日下载量暴涨，凸显宠物情感消费需求升温；春节期间宠物庙会、旅行及摄 影市场崛起，印证千亿级市场潜力。此外，新瑞鹏集团旗下动物医院频遭投诉，涉及医疗安全隐患，可 能引发对宠物服务行业监管的担忧。 以上内容基于公开资料整理，不构成投资建议。 经济观察网 波奇宠物（BQ.AM）近7天股价波动显著，呈现先扬后抑态势。根据内部数据库，截至2026 年2月12日，最新收盘价为1.29美元，当日微涨0.20%。关键波动包括：2月6日单日大涨12.61%至1.34美 元，但随后震荡回落，2月11日收于1.29美元（单日跌3.01%）。从2月5日至2月12日，区间累计涨跌幅 为-8.51%，振幅达29.08%，交易活跃度先升后降，2月6日成交量峰值达54.92万股，2月12日降至1.67万 股，显示短期投机情绪降温。同期美股零售板块微涨1.43%，大盘指数小幅调整，个股波动可能受流动 性及市场情绪驱动。 ...

筹划四个月后宣布终止收购高爷家 2月10日晚，国内宠物卫生护理龙头依依股份（001206）发布公告，宣布终止筹划以发行股份及支付现金购买的方式向彭瀚、瀚川生物、闻光凯等19名交 易对方购买其合计持有的杭州高爷家有好多猫宠物食品有限责任公司(以下简称"高爷家")100%股权事项。 然而，时隔近4个月后，依依股份在2月10日晚发布公告称，公司终止筹划以发行股份及支付现金购买的方式向彭瀚、瀚川生物、闻光凯等19名交易对方 购买其合计持有的高爷家100%股权事项。 对于本次交易终止的原因，依依股份在公告中表示，由于高爷家在2025年双十一活动中对猫砂的销售模式进行了调整，以及2025年下半年以来推广猫粮 新品的前期投入，导致高爷家2025年经营情况与本次交易筹划期初的预期发生了一定变化，从而导致公司与交易对方未能就本次交易估值等核心商业条 款达成一致意见，为切实维护上市公司和广大投资者长期利益，经公司与交易各相关方友好协商、认真研究和充分论证，基于审慎性考虑，决定终止本 次交易事项，并与交易对方签署相关终止协议。 依依股份还表示，目前公司生产经营情况正常，本次交易终止不会对公司的生产经营和财务状况造成重大不利影响，不 ...

证券日报网讯2月12日，依依股份（001206）在互动平台回答投资者提问时表示，截至2026年2月10日收 市，持有公司股票的股东总户数为19061户。 ...

Core Viewpoint - The stock price of BQ.AM (Boqi Pet) has shown significant volatility over the past week, with a notable increase of 12.61% on February 6, reaching $1.34, followed by a decline to $1.28 by February 11, resulting in a cumulative fluctuation of 7.56% and an amplitude of 27.73% [1] Group 1: Stock Performance - BQ.AM experienced a daily surge of 12.61% on February 6, reaching a price of $1.34, but subsequently faced a decline, closing at $1.28 on February 11 [1] - The stock's cumulative fluctuation over the week was 7.56%, with a trading amplitude of 27.73% [1] - Trading activity initially increased but later decreased, indicating a cooling of short-term speculative sentiment [1] Group 2: Market Trends and Events - The pet consumption market remains hot, indirectly increasing industry attention [1] - Yiyi Co. (依依股份) terminated its acquisition of Gao Ye Jia on February 10, refocusing on smart pet products and medical sectors [1] - The "Cat Language" app topped the Apple paid app chart at the end of January, with a significant surge in daily downloads, reflecting rising demand for pet emotional consumption [1] - The emergence of pet-related events such as temple fairs, travel, and photography during the Spring Festival highlights the potential of a billion-dollar market [1] - New Ruipeng Group's animal hospitals have faced multiple complaints regarding medical safety issues, raising concerns about regulatory scrutiny in the pet services industry [1]

Core Viewpoint - Tianjin Yiyi Hygiene Products Co., Ltd. has announced the termination of its plan to acquire 100% equity of Hangzhou Gaoye Family Pet Food Co., Ltd. due to changes in the target company's sales model and investment plans, which led to a failure to reach agreement on key commercial terms [1][2] Group 1: Termination of Acquisition - The termination was caused by adjustments in the sales model for cat litter during the Double Eleven shopping festival and the preliminary investment in new cat food products scheduled for the second half of 2025, which altered the target company's expected operational situation [1] - The company emphasized that the termination of the acquisition will not adversely affect its production, operations, or financial status [1] Group 2: Strategic Direction - The company will continue to pursue its dual-circulation strategy of "overseas + domestic" and "ODM/OEM + own brand" despite the termination of the acquisition [1][2] - The company plans to maintain its focus on its core business of disposable hygiene products and non-woven fabrics, particularly in the pet hygiene care sector, with a product matrix that includes pet pads, pet diapers, pet cleaning bags, and pet wet wipes [2] Group 3: Future Development - The company aims to strengthen its advantages in customer resources, large-scale production, product R&D, quality management, and expand its market share while actively developing new international markets [2] - The company is exploring strategic investments in the pet sector, including pet healthcare and smart pet products, and is open to merger and acquisition opportunities within the pet supplies industry [3]

Core Viewpoint - The company is focusing on the pet hygiene care products sector, which is experiencing growth due to increasing pet ownership rates and rising per capita consumption of pet hygiene products [2] Group 1: Company Strategy - The company's short-term strategic focus remains on its core business of pet hygiene care products [2] - The company plans to strategically invest in the pet and elderly care sectors through industry funds or direct investments to develop new strategic projects [2] Group 2: Market Opportunities - The company has already ventured into various dimensions of pet care, including pet medical services, cat litter, and smart pet products, indicating a broadening of its market presence [2] - There is potential for the company to achieve market expansion for other pet products through resource integration in the future [2]

Core Viewpoint - The company, Yiyi Co., has sufficient orders on hand and is operating smoothly, indicating a stable production environment [2] Production Capacity - The annual production capacity for pet pads is 4.6 billion pieces, and for pet diapers, it is 200 million pieces [2] - The first phase of the overseas base in Cambodia has an annual production capacity of nearly 300 million pieces for pet pads, with a second phase investment of $21 million for a new production facility [2] - The company can enhance capacity utilization through the addition of production lines and technological upgrades if demand increases [2] Raw Material Management - The company has established strong relationships with suppliers and employs long-term price agreements, centralized procurement, and inventory management to mitigate cost fluctuations [2]

Group 1 - The company focuses on the pet hygiene care sector as its main business area [2] - The company acknowledges the long-term development potential of the pet food sector [2] - The company will adhere to a prudent principle while continuously monitoring the industry development in the pet food segment [2]