CHINA PET FOODS(002891)

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中宠股份(002891) - 2023 Q4 - 年度财报
2024-04-22 08:48
Company Overview - The company's registered address is in Yantai, Shandong Province, with the postal code 264003[18] - The company's stock is listed on the Shenzhen Stock Exchange with the stock code 002891[18] - The company's legal representative is Hao Zhongli[18] - The company's website is www.wanpy.com.cn and the email address is 002891@wanpy.com.cn[18] - The company's main business is pet food, which provides essential nutrients for pets' growth and health[15] - The company has multiple subsidiaries and joint ventures, including Hao's Holdings, Inc. in the US and The Natural Pet Treat Company Limited in New Zealand[14] - The company operates over 1,000 product varieties across categories such as pet dry food, wet food, and snacks[64] - The company's core brands include "Wanpy," "ZEAL," and "TOPTREES," which have established a strong presence in the mid-to-high-end pet food market[71] - Wanpy, the company's longest-standing brand, is sold in 61 countries and regions, emphasizing fresh meat-based products[74] - ZEAL, acquired in 2018, offers premium New Zealand-sourced pet food and has expanded to over 30 countries and regions[75] - The company's brands, including Wanpy, ZEAL, and GREAT JACK'S®, are sold in 61 countries and regions globally[78] - The company's brands GREAT JACK'S® and ZEAL have entered 156 PetSmart stores in Canada, marking a new breakthrough in the North American market[78] - The company has a global production capacity across 5 countries and exports products to 73 countries and regions worldwide[78] - The company has 22 modern pet food production bases globally, including 14 in China and 8 overseas (2 under construction)[80] - The company has established a "Product Traceability System" and "Defective Product Recall System" to ensure product quality and safety[81] - The company and its subsidiaries have obtained 17 global authoritative certifications, including ISO9001, ISO22000, and HACCP[83] - The company's R&D center, established in 1998, is the most advanced in China's pet industry, with a total construction area exceeding 12,000 square meters[91] - The company's testing center, with an investment of over 15 million RMB, is the highest standard in China's pet industry and has passed CNAS certification[92] - The company's pet nutrition and health research institute covers 10,000 square meters and includes a testing base with over 300 experimental dogs and cats[93] - The company employs a dual production model: forecast-based production for its own brands and order-based production for OEM/ODM products[66] - Sales channels include online platforms (e.g., Tmall, JD.com), specialty pet stores, supermarkets, and special channels like breeding farms[69] - TOPTREES Leading® brand has launched innovative products such as "Low-Temperature Baked Fresh Meat Food," "99 Main Course Cans," and "Complete Main Course Cat Strips"[76] - The company has established factories in the US, New Zealand, Canada, and Cambodia, enhancing its global production and risk mitigation capabilities[100] - The company has developed over 20 independent technology projects in the past three years, with 3 provincial-level technology projects approved[97] - The company's R&D team consists of over 80 professionals, supported by international experts from the US, Germany, Canada, and New Zealand[95] - The company has established a wide network of subsidiaries and affiliated companies, covering areas such as brand management, e-commerce, and pet food production[193] - The company has a strong presence in both domestic and international markets, with subsidiaries in Cambodia and the United States, reflecting a global expansion strategy[194] - The company's leadership team includes experienced professionals with roles in multiple subsidiaries, such as Hao Chenlong, who serves as the general manager and legal representative of Shanghai Haoshi Pet Food Co., Ltd[194] Financial Performance - Revenue for 2023 reached 3.747 billion yuan, a 15.37% increase compared to 2022[23] - Net profit attributable to shareholders in 2023 was 233.16 million yuan, a 120.12% increase year-over-year[23] - Operating cash flow surged by 274.04% to 447.02 million yuan in 2023[23] - Basic earnings per share (EPS) increased by 121.49% to 0.7978 yuan in 2023[23] - Total assets grew by 14.32% to 4.39 billion yuan at the end of 2023[23] - Q4 2023 revenue was 1.035 billion yuan, the highest among all quarters[28] - Net profit in Q2 2023 was the highest at 80.51 million yuan[28] - The company's weighted average return on equity (ROE) improved to 10.88% in 2023, up from 5.56% in 2022[23] - Total revenue for 2023 reached 3.747 billion yuan, a 15.37% increase compared to 2022[106] - Revenue from pet food and supplies accounted for 96.43% of total revenue, reaching 3.614 billion yuan, a 14.97% increase year-over-year[106] - Pet snacks contributed 62.74% of total revenue, generating 2.351 billion yuan, a 9.81% increase compared to 2022[106] - Pet main food revenue surged by 60.23% to 576.76 million yuan, accounting for 15.39% of total revenue[106] - Domestic revenue grew by 20.40% to 1.086 billion yuan, representing 28.97% of total revenue[106] - Overseas revenue increased by 13.44% to 2.662 billion yuan, accounting for 71.03% of total revenue[106] - Direct sales revenue rose by 41.56% to 465.62 million yuan, representing 12.43% of total revenue[106] - OEM revenue increased by 26.13% to 2,153,414,918.40 yuan in 2023, compared to 1,590,634,363.84 yuan in 2022[108] - Direct sales revenue surged by 43.73% to 339,286,252.49 yuan in 2023, up from 190,932,128.46 yuan in 2022[108] - Pet food and supplies production volume grew by 9.80% to 85,250.39 tons in 2023, compared to 77,640.00 tons in 2022[108] - Inventory of pet food and supplies decreased by 12.03% to 12,077.60 tons in 2023, down from 13,729.88 tons in 2022[108] - Direct material costs for pet snacks decreased by 9.45% to 871,858,157.06 yuan in 2023, compared to 1,065,716,457.39 yuan in 2022[110] - Top 5 customers accounted for 45.26% of total sales, with the largest customer contributing 19.42% of total sales[113] - Top 5 suppliers accounted for 24.78% of total procurement, with the largest supplier contributing 14.56% of total procurement[113] - Sales expenses increased by 27.71% to 386,936,395.19 yuan in 2023, up from 302,973,777.70 yuan in 2022[114] - Financial expenses surged by 92.60% to 28,758,589.62 yuan in 2023, primarily due to increased interest expenses on convertible bonds[114] - R&D expenses increased by 10.48% to 47,909,593.71 yuan in 2023, compared to 43,363,196.96 yuan in 2022[114] - Operating cash flow surged by 274.04% to RMB 447.02 million due to increased sales and inventory management[118] - Investment cash inflow increased by 677.88% to RMB 1.40 billion, driven by financial product investments[118] - Construction in progress increased by 4.96% to RMB 468.13 million, reflecting higher capital expenditures[120] - Short-term borrowings rose by 6.30% to RMB 665.50 million, indicating increased financing activities[120] - The company's financial assets (excluding derivatives) reached RMB 389.08 million, with a fair value gain of RMB 2.08 million[122] - Other equity instrument investments decreased by RMB 4.43 million to RMB 68.68 million[122] - Total financial assets amounted to 457,756,900 yuan, with a breakdown of 173,283,000 yuan, 2,076,030 yuan, 4,433,183 yuan, 1,652,000 yuan, 1,365,000 yuan, and 168,900 yuan respectively[123] - The company's investment in the reporting period was 260,770,648 yuan, a 32.42% increase compared to the previous year's 196,922,627.92 yuan[125] - A significant equity investment of 2,000,000 yuan was made in a pet-related limited partnership in Chongqing[127] - The company invested 5,902,348 yuan in a pet food and supplies company, representing a 100% ownership stake[128] - Total investment in pet-related businesses and food companies reached 260,770,648 yuan, with a combined value of 3,510,641 yuan[128] - The company's financial liabilities stood at 10,490,000 yuan, with no changes reported[123] - The company completed the settlement of foreign exchange derivative products, concluding related business operations[123] - No significant changes in the measurement attributes of the company's main assets were reported during the period[124] - The company did not engage in any securities investments during the reporting period[129] - The company engaged in derivative investments for hedging purposes, with details provided in thousands of yuan[130] - The company's foreign exchange forward contracts amounted to RMB 25,482.89 thousand, with a fair value change loss of RMB 299.35 thousand during the reporting period[132] - The company's total foreign exchange derivative investments were RMB 25,482.89 thousand, with no speculative derivative investments[132][133] - The company's non-public issuance of shares in 2020 raised RMB 651,499,200, with a net amount of RMB 634,171,489.33 after deducting issuance costs[137] - The company's issuance of convertible bonds in 2022 raised RMB 769,045,900, with a net amount of RMB 754,956,277.37 after deducting issuance costs[138] - The company's total raised funds from non-public issuance and convertible bonds amounted to RMB 1,420,544,510, with RMB 1,389,127,800 used and RMB 51,260,090 remaining[135] - The company's foreign exchange derivative investments effectively hedged against exchange rate fluctuations, achieving the goal of risk-neutral management[132] - The company's independent directors unanimously approved the financial derivative transactions, stating they align with the company's long-term development and do not harm the interests of minority shareholders[132] - The company's foreign exchange derivative investments are funded by its own capital, not raised funds[132] - The company's foreign exchange derivative investments are primarily forward contracts, with strict internal approval and operational procedures to control risks[132] - The company's foreign exchange derivative investments are based on market quotes from external financial institutions for fair value determination[132] - The marketing center construction and marketing channel intelligent upgrade project has been fully invested with a total investment of 11,411 million yuan, achieving a 100% investment progress[140] - The annual production of 60,000 tons of pet dry food project reached 98.64% investment progress with a total investment of 23,700 million yuan, and is expected to be completed by October 31, 2023[140] - The annual production of 20,000 tons of pet wet food project in New Zealand achieved 100.90% investment progress with a total investment of 23,039 million yuan, and is expected to be completed by June 30, 2024[140] - The supplementary working capital project achieved 100.79% investment progress with a total investment of 16,408.73 million yuan[140] - The annual production of 60,000 tons of high-quality pet dry food project has a total investment of 22,960.71 million yuan, but is not yet completed[141] - The annual production of 40,000 tons of new pet wet food project has a total investment of 25,552.34 million yuan, but is not yet completed[141] - The annual production of 2,000 tons of freeze-dried pet food project achieved 79.97% investment progress with a total investment of 5,254.86 million yuan, and realized an income of 1,070.05 million yuan[141] - The flat warehouse intelligent three-dimensional transformation project achieved 71.34% investment progress with a total investment of 3,636.68 million yuan[141] - The supplementary working capital project achieved 100.04% investment progress with a total investment of 18,091.04 million yuan[141] - The total investment in committed projects is 142,054.59 million yuan, with a cumulative investment of 88,327.5 million yuan, achieving an overall investment progress of 62.18%[141] - The total investment for the "Annual 20,000 Tons of Pet Wet Food New Zealand Project" increased from RMB 230.39 million to RMB 278.61 million, with RMB 230.39 million funded by raised capital. The funding gap will be covered by the company's self-raised funds[142] - The company used RMB 38.4692 million of raised capital to replace self-raised funds previously invested in the project[142] - The company temporarily supplemented working capital with RMB 70 million of idle raised funds, all of which were returned to the raised capital account by July 24, 2023[142] - The company temporarily supplemented working capital with RMB 150 million of idle raised funds, of which RMB 4 million was not returned by December 31, 2023[142] - The company temporarily supplemented working capital with RMB 500 million of idle raised funds, all of which were returned to the raised capital account by July 24, 2023[142] - The company temporarily supplemented working capital with RMB 510 million of idle raised funds, of which RMB 504 million was not returned by December 31, 2023[143] - The company's subsidiary, Yantai Ailisi Zhongchong Food Co., Ltd., generated a net profit of RMB 33.2471 million[147] - The company's subsidiary, HAO's Holdings, Inc., generated a net profit of USD 54.8107 million[147] - The company's subsidiary, American Jerky Company LLC, generated a net profit of USD 149.5791 million[147] - The company's subsidiary, Aitao Pet Products (Cambodia) Co., Ltd., generated a net profit of USD 39.9896 million[148] - Total pre-tax compensation for executives in 2023 amounted to 1,062.46 million yuan[197] Market and Industry Trends - The pet industry is experiencing rapid growth, driven by increased demand for high-quality pet food and services[34] - Global pet industry size reached $261 billion in 2022, with a 12.5% YoY growth, and is expected to grow at a CAGR of 6.1% to reach $350 billion by 2027[35] - US pet industry total spending reached $147 billion in 2023, with pet food and snacks accounting for $64.4 billion, veterinary care and products at $38.3 billion, and other services at $12.3 billion[36] - European pet market consumption totaled €53.6 billion in 2022, a 4.69% YoY increase, with 91 million households owning pets, representing a 46% penetration rate[39] - Southeast Asia pet market grew to $3.2 billion in 2022, with Thailand's pet food market accounting for 45% of its total pet market size of 49.7 billion THB[41] - China's pet industry market size reached 279.3 billion CNY in 2023, a 63.52% increase from 2018, driven by rising income levels and changing demographics[42] - US pet ownership penetration exceeds 50%, with pet product spending increasing by over 60% from 2018 to 2023[36] - Southeast Asia pet market is projected to grow from $15 billion in 2020 to $25 billion by 2030, driven by economic growth and rising middle-class population[41] - China's pet industry grew at an average annual rate of 32.67% from 2011 to 2019, supported by per capita GDP exceeding $5,000[45] - Aging population in China, with 15.4% aged 65 and above in 2023, is driving increased demand for pet companionship[46] - US pet industry is expected to continue steady growth, with total spending projected to increase significantly by 2030[36] - 87.5% of pet owners consider their pets as family members or friends, driving increased spending on pet products[47] - High-spending pet owners (monthly spending over 500 RMB on pet food) account for over 20% of the market[47] - The global pet food market is projected to reach $133.9 billion in 2023, with the U.S. contributing $53.2 billion (40% share)[54] - U.S. cat food sales are expected to reach $15.3 billion in 2023, a 9.4% YoY increase, while dog food sales are projected at $36.7 billion, also a 9.4% increase[54] - China's pet food market reached 146.07 billion RMB in 2023, with a 5.85% YoY growth and a 6-year CAGR of 10.42%[58] - Pet food accounts for 52.3% of China's total pet market in 2023[58] - China's pet food exports to the U.S. declined in 2019 due to a 25% tariff increase, with 2021 exports totaling 7.886 billion RMB[59] - The proportion of cat ownership has surged since 2020, driving the growth of the "cat economy" and related industries[49] - 66% of U.S. households own at least one pet, with 86.9 million pet-owning households in 2022[54] - Pet owners in China are predominantly young, high
中宠股份:关于举办2023年度网上业绩说明会的公告
2024-04-22 08:48
证券代码:002891 证券简称:中宠股份 公告编号:2024-021 债券代码:127076 债券简称:中宠转 2 烟台中宠食品股份有限公司 关于举办 2023 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有 虚假记载、误导性陈述或重大遗漏。 烟台中宠食品股份有限公司(以下简称"公司")2023年年度报告于2024 年4月23日披露,为使广大投资者进一步了解公司2023年年度报告和经营情况, 公司将于2024年04月26日(星期五)15:00-17:00举办2023年年度业绩说明会。 本次说明会将采用网络远程的方式举行。会议具体安排如下: 会议时间:2023年04月26日(星期五)15:00-17:00 交流网址:"中证路演中心"( https://www.cs.com.cn/roadshow/) 董事长、总裁郝忠礼先生; 独立董事王欣兰女士; 财务总监肖明岩先生; 董事会秘书任福照先生。 保荐机构: 保荐代表人王林峰先生。 参加本次说明会的人员有: 为充分尊重投资者、提升交流的针对性,现就公司2023年度业绩说明会提 前向投资者公开征集问题,广泛听取投资者的意见和 ...
中宠股份:年度关联方资金占用专项审计报告
2024-04-22 08:47
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中宠股份:关于公司2023年度利润分配预案的公告
2024-04-22 08:47
烟台中宠食品股份有限公司 关于公司 2023 年度利润分配预案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示: 每股分配比例:每 10 股派发现金红利 2.40 元(含税)。 本次利润分配以实施权益分派股权登记日登记的总股本扣减公司回购专用 账户的股数为基数,股权登记日具体日期将在权益分派实施公告中明确。 在本次利润分配预案披露至实施前,若公司股本由于可转债转股、股份回购、 股权激励行权等原因发生变动,则以权益分派实施时股权登记日享有利润分配权 的股份总额为基数(回购专户股份不参与分配),公司将按照分配比例不变的原 则进行调整并在权益分派实施公告中披露。 烟台中宠食品股份有限公司(以下简称"公司")于 2024 年 4 月 22 日召开 第四届董事会第六次会议和第四届监事会第四次会议,审议通过了《关于公司 2023 年度利润分配的预案的议案》,现将有关事项公告如下: 一、利润分配预案的基本情况 1、利润分配预案的具体内容 证券代码:002891 证券简称:中宠股份 公告编号:2024-023 债券代码:127076 债券简称:中宠转 2 ...
中宠股份:2023年度独立董事述职报告(王欣兰)
2024-04-22 08:47
各位股东: 作为烟台中宠食品股份有限公司(以下简称"公司")的独立董事,本人在 2023 年度工作中严格按照《公司法》、《证券法》、《深圳证券交易所上市公司自 律监管指引第 1 号——主板上市公司规范运作》等相关法律法规,以及《公司章 程》、《董事会议事规则》和《独立董事工作制度》等规定和要求,勤勉、忠实、 尽责地履行职责,积极出席公司股东大会和董事会,认真审议董事会各项议案, 并对公司相关事项发表独立意见,充分发挥独立董事作用,维护公司整体利益和 全体股东的合法权益。现将本人 2023 年度履职情况报告如下: 一、独立董事的基本情况 烟台中宠食品股份有限公司 2023 年度独立董事述职报告 本人王欣兰,1971 年 7 月出生,中共党员。毕业于辽宁大学技术经济及管 理专业,管理学博士学位,财务管理专业教授、硕士研究生导师。历任佳木斯大 学经济管理学院教研室主任、会计系副主任、会计系主任、副院长职务。现任山 东工商学院会计学院财务管理专业教授,烟台杰瑞石油服务集团股份有限公司独 立董事,烟台中宠食品股份有限公司独立董事。 报告期内,本人任职符合《上市公司独立董事管理办法》第六条规定的独立 性要求,不存在影响独 ...
中宠股份:董事会对独立董事独立性评估的专项意见
2024-04-22 08:47
根据中国证券监督管理委员会《上市公司独立董事管理办法》、《深圳证券 交易所股票上市规则》、《深圳证券交易所上市公司自律监管指引第 1 号—— 主板上市公司规范运作》及《烟台中宠食品股份有限公司独立董事工作制度》等 要求,公司独立董事唐玉才、张晓晓、王欣兰向公司董事会提交了《独立董事关 于独立性自查情况的报告》(以下简称"自查情况报告"),公司董事会对《自查 情况报告》进行了核查、评估并发表专项意见如下: 经对独立董事唐玉才、张晓晓、王欣兰的任职情况、自查情况报告及 2023 年度的工作情况进行核查,公司董事会认为,上述独立董事不在公司担任除独立 董事外的其他职务,也未在公司主要股东公司担任职务,与公司及公司的主要股 东、实际控制人不存在直接或者间接利害关系,也不存在其他可能影响其进行独 立客观判断关系的情况。在 2023 年度的履职过程中,唐玉才、张晓晓、王欣兰 独立履行职责,不受公司及其主要股东、实际控制人等单位或者个人的影响,符 合《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》中对独立董事独立性的相关要求。 烟台中宠食品股份有限公司 董 事 会 202 ...
中宠股份:联储证券股份有限公司关于烟台中宠食品股份有限公司提前归还募集资金后继续使用部分闲置募集资金暂时补充流动资金的核查意见
2024-04-22 08:47
联储证券股份有限公司 关于烟台中宠食品股份有限公司提前归还募集资金后 继续使用部分闲置募集资金暂时补充流动资金的核查意见 | 序 | 项目名称 | 项目投资总 | 拟用募集资金投 | 调整后投资总 | | --- | --- | --- | --- | --- | | 号 | | 额 | 资额 | 额 | | 1 | 年产6万吨高品质宠物干粮项 目 | 28,424.71 | 23,700.00 | 22,960.71 | | 2 | 年产4万吨新型宠物湿粮项目 | 31,195.67 | 25,552.34 | 25,552.34 | | 3 | 年产2000吨冻干宠物食品项目 | 6,478.80 | 5,254.86 | 5,254.86 | | 4 | 平面仓库智能立体化改造项目 | 4,000.35 | 3,636.68 | 3,636.68 | | 5 | 补充流动资金 | 19,500.00 | 19,500.00 | 18,091.04 | | | 合 计 | 89,599.53 | 76,904.59 | 75,495.63 | 2022年11月14日,公司第三届董事会第二十三次会议和第三届 ...
中宠股份:2023年度独立董事述职报告(孙礼)
2024-04-22 08:47
烟台中宠食品股份有限公司 作为烟台中宠食品股份有限公司(以下简称"公司")的独立董事,本人在 2023 年度工作中严格按照《公司法》、《证券法》、《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》等相关法律法规,以及《公司章 程》、《董事会议事规则》和《独立董事工作制度》等规定和要求,勤勉、忠实、 尽责地履行职责,积极出席公司股东大会和董事会,认真审议董事会各项议案, 并对公司相关事项发表独立意见,充分发挥独立董事作用,维护公司整体利益和 全体股东的合法权益。现将本人 2023 年度履职情况报告如下: 一、独立董事的基本情况 本人孙礼,1986 年 2 月出生,本科学历。历任中国人民解放军解放军报社 编辑,北京英智锐思咨询有限公司客户群总监、副总经理。现任北京楷辰科技有 限公司监事,娄底响太多文化传媒有限公司监事,上海宠业家科技有限公司监事, 北京铭耀科技有限公司董事、经理,北京信使科技有限公司执行董事、经理,北 京宠呀科技有限公司执行董事,北京墙上有猫科技有限公司执行董事、经理,北 京宠业家科技有限公司执行董事、经理。2021 年 9 月至 2023 年 11 月,任公司 独立董事。 ...
中宠股份:监事会决议公告
2024-04-22 08:47
债券代码:127076 债券简称:中宠转 2 证券代码:002891 证券简称:中宠股份 公告编号:2024-019 烟台中宠食品股份有限公司 关于第四届监事会第四次会议决议的公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 二、监事会会议审议通过情况 经与会监事对本次监事会议案的审议表决,形成如下决议: 1、审议通过《关于公司 2023 年年度报告及其摘要的议案》。 表决结果:3 票赞成,0 票反对,无弃权票。一致通过。 经审核,监事会认为:《公司 2023 年年度报告及其摘要》编制程序符合法律、 行政法规和中国证监会的规定,报告内容真实、准确、完整地反映了上市公司的 实际情况,不存在任何虚假记载、误导性陈述或者重大遗漏。 《公司 2023 年年度报告》详见公司指定的信息披露媒体巨潮资讯网 (http://www.cninfo.com.cn); 《公司 2023 年年度报告摘要》详见公司指定的信息披露媒体《中国证券报》、 《 上 海 证 券 报 》、《 证 券 日 报 》、《 证 券 时 报 》 和 巨 潮 资 讯 网 (http ...
中宠股份:关于使用部分闲置募集资金暂时补充流动资金的公告
2024-04-22 08:47
经中国证券监督管理委员会"证监许可[2022]2063 号"文核准,公司于 2022 年 10 月 25 日公开发行了 7,690,459.00 张可转换公司债券,每张面值 100.00 元, 总募集资金 769,045,900.00 元。扣除承销及保荐费用人民币 12,000,000.00 元(含 税金额)后,实际收到人民币 757,045,900.00 元。 本次可转换公司债券主承销商联储证券股份有限公司已于 2022 年 10 月 31 日将人民币 757,045,900.00 元缴存于中宠公司的中信银行股份有限公司烟台莱山 支行 8110601011901525819 账户内。本次发行过程中,发行人应支付承销保荐费、 律师费、审计验资费、资信评级费、信息披露及发行手续费等其他费用合计人民 币 14,973,452.30 元(含增值税),发行费用不含增值税金额为人民币 14,125,898.38 元(不含税),扣除不含税发行费用实际募集资金净额为人民币 754,920,001.62 元。 证券代码:002891 证券简称:中宠股份 公告编号:2024-031 债券代码:127076 债券简称:中宠转 2 ...