Group 1 - The company's Q3 revenue reached 888 million yuan, representing a year-on-year increase of 13.54% [1] - The net profit for Q3 was 18.87 million yuan, showing a year-on-year decline of 19.00% [1] - For the first three quarters, the company's revenue totaled 2.323 billion yuan, reflecting a year-on-year growth of 14.18% [1] Group 2 - The net profit for the first three quarters was 56.33 million yuan, which is a year-on-year increase of 3.40% [1]

Group 1 - Tianyuan Pet (301335.SZ) closed at 29.80 yuan, with a decline of 1.65%, currently in a state of breaking issue [1] - The company was listed on the Shenzhen Stock Exchange's ChiNext on November 18, 2022, with an initial public offering (IPO) of 22.5 million shares, accounting for 25% of the total share capital after the issuance, at a price of 49.98 yuan per share [1] - The total funds raised from the IPO amounted to 1.12455 billion yuan, with a net amount of 1.007173 billion yuan after deducting issuance costs, exceeding the original plan by 417.5886 million yuan [1] - The funds raised are intended for several projects, including technology upgrades, production base construction, logistics center construction, product development center, and e-commerce and information technology projects [1] - The total issuance costs were 117.377 million yuan, with CITIC Securities receiving 89.964 million yuan in underwriting and sponsorship fees [1] Group 2 - On May 10, 2023, the company held its 2022 annual general meeting, approving a profit distribution plan for 2022 [2] - The specific content of the profit distribution plan includes a cash dividend of 5 yuan (including tax) for every 10 shares, totaling 45 million yuan (including tax), and a bonus share distribution of 2 shares for every 10 shares from the capital reserve [2]

杭州天元宠物用品股份有限公司 2025 年第三季度报告 证券代码：301335 证券简称：天元宠物 公告编号：2025-102 杭州天元宠物用品股份有限公司 2025 年第三季度报告 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。 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 ☑否 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 ☑否 1 杭州天元宠物用品股份有限公司 2025 年第三季度报告 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 增减 | | 上年同期增减 | | 营业收入（元） | 888,096,143.45 ...

Market Overview - The entertainment products sector increased by 0.8% on October 23, with Zhujiang Piano leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Top Performers - Zhujiang Piano (002678) closed at 6.19, up 9.95% with a trading volume of 721,500 shares and a transaction value of 443 million [1] - Sanbai Shuo (001300) closed at 15.59, up 3.66% with a trading volume of 79,300 shares and a transaction value of 124 million [1] - Zhejiang Zhengte (001238) closed at 50.51, up 2.98% with a trading volume of 46,626 shares and a transaction value of 33.21 million [1] Underperformers - Qunxing Toys (002575) closed at 6.36, down 3.49% with a trading volume of 450,700 shares and a transaction value of 288 million [2] - Gao Le Co. (002348) closed at 4.15, down 3.04% with a trading volume of 358,800 shares and a transaction value of 149 million [2] - Tianyuan Pet (301335) closed at 30.30, down 1.46% with a trading volume of 22,900 shares and a transaction value of 69.39 million [2] Capital Flow - The entertainment products sector experienced a net outflow of 93.73 million from institutional investors, while retail investors saw a net inflow of 70.65 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Source Pet (001222) had a net inflow of 18.69 million from institutional investors, but a net outflow of 9.57 million from speculative funds [3] - Guangbo Co. (002103) saw a net inflow of 18.66 million from institutional investors, but a significant net outflow of 19.70 million from retail investors [3] - Zhejiang Zhengte (001238) had a net inflow of 1.46 million from institutional investors, while speculative funds and retail investors experienced net outflows [3]

Core Viewpoint - Tianyuan Pet emphasizes its commitment to providing reasonable returns to investors through a stable and sustainable profit distribution policy, while also focusing on business expansion and market development in the pet industry [2] Summary by Relevant Sections - **Profit Distribution Policy** - The company has established a stable and sustainable profit distribution policy and is strictly implementing it [2] - Recently, Tianyuan Pet successfully completed the equity distribution work for the first half of 2025, ensuring shareholders receive their entitled dividends [2] - **Business Strategy** - The company retains a portion of undistributed profits primarily to seize opportunities in the pet industry [2] - Funds will be allocated to key areas such as business expansion and deepening market channels to drive continuous and stable growth [2] - **Long-term Shareholder Value** - The focus on sustainable growth aims to create longer-term and more stable returns for shareholders [2]

Core Insights - Tianyuan Pet's sales revenue from the U.S. market accounts for approximately 15% of its total revenue [2] Group 1: Company Strategy - The company is actively increasing production capacity in overseas bases such as Vietnam and Cambodia to mitigate the impact of U.S. tariffs [2] - The company is focusing on expanding its domestic market presence to reduce uncertainties arising from external market changes [2] - The company will continue to monitor international trade policies closely and respond proactively to market changes to ensure stable development [2]

Core Viewpoint - Tianyuan Pet (301335.SZ) has reported that approximately 15% of its sales revenue comes from the U.S. market [1] Group 1: Company Strategy - The company is actively taking measures to mitigate the impact of increased tariffs in the U.S. by enhancing production capacity in overseas bases such as Vietnam and Cambodia to avoid tariff risks [1] - The company is also focusing on expanding its domestic market presence to reduce the uncertainty caused by external market changes [1] Group 2: Market Monitoring - The company will continue to closely monitor international trade policies and actively respond to market changes to ensure effective risk management and maintain stable development [1]

Core Insights - The pet industry in China has reached a scale of over 300 billion yuan, with the number of pet dogs and cats surpassing 140 million, indicating a significant rise in the "pet economy" and emotional consumption trends [1] - The Yangtze River Delta (YRD) region is identified as the core growth area for this trend, with cities like Shanghai, Hangzhou, and Nanjing showing higher pet consumption levels than the national average [1] Upstream - The YRD has established itself as the largest pet product manufacturing base in China, with over 1,200 companies in regions like Nantong and Huai'an [2] - In the first half of this year, Huai'an's pet product exports reached 58.38 million yuan, a 40.2% increase year-on-year [2] - Anhui's Hefei is developing large-scale industrial parks to provide stable, low-cost supplies for brand and channel partners, with an expected annual output value of 6 billion yuan [2] Midstream - Zhejiang enterprises are leveraging e-commerce to transform "YRD manufacturing" into "global consumption," with Yiwu's pet product sales reaching 3 billion yuan, accounting for about 15% of national exports [3] - Companies like Petty and Tianyuan Pet are achieving dual growth through online and offline integration, social e-commerce, and IP marketing [3] - During the 2024 "Double 11" shopping festival, Petty's brand "Jueyan" achieved over 10 million yuan in sales within the first four hours [3] Downstream - Shanghai's pet consumption market is valued between 23 billion to 25 billion yuan, growing at an annual rate of 10% to 15%, representing nearly 8% of the national market [4] - The number of new pet stores on Meituan's platform exceeded 25,000 in 2023, with order volume increasing by over 60% year-on-year [4] - The pet technology market is projected to exceed 30 billion yuan in 2024, with a penetration rate expected to reach 30% by 2025 [4] Challenges - Despite rapid growth, the YRD faces issues such as regional structural mismatches, lack of industry standards, and lagging urban governance [5] - The pet industry exhibits a weak brand presence and service chain inefficiencies, with many manufacturers relying on OEM production and lacking high-end pricing capabilities [6] - There is a significant regulatory gap in areas like pet healthcare and insurance, with a pet insurance penetration rate below 5%, compared to 25% in Japan and 30% in Europe and the U.S. [7] Recommendations - To enhance the pet economy's sustainability, it is suggested to establish a collaborative mechanism for pet economy and animal welfare within the YRD, focusing on standardization across various sectors [8] - The development of "pet-friendly demonstration communities" is recommended to integrate pet services into urban planning, enhancing convenience for pet owners [8] - A "YRD Pet Industry Innovation Fund" is proposed to support the development of pet healthcare devices and services, aiming to improve market efficiency and insurance penetration [9]

Group 1 - Tianyuan Pet's stock increased by 2.01% on October 10, with a trading volume of 129 million yuan. The margin trading data shows a financing buy amount of 11.08 million yuan and a financing repayment of 16.25 million yuan, resulting in a net financing buy of -5.17 million yuan. The total margin trading balance as of October 10 is 127 million yuan [1] - The financing balance of Tianyuan Pet is 127 million yuan, accounting for 7.91% of its circulating market value, which is above the 60th percentile level over the past year, indicating a relatively high position [1] - As of October 10, there were no shares sold or repaid in the securities lending segment, with a lending balance of 0.00 yuan, which is above the 90th percentile level over the past year, indicating a high position [1] Group 2 - As of June 30, the number of shareholders of Tianyuan Pet reached 17,700, an increase of 28.43% compared to the previous period. The average circulating shares per person decreased by 20.98% to 2,853 shares [2] - For the first half of 2025, Tianyuan Pet achieved an operating income of 1.435 billion yuan, a year-on-year increase of 14.59%, and a net profit attributable to the parent company of 37.46 million yuan, a year-on-year increase of 20.14% [2] - Since its A-share listing, Tianyuan Pet has distributed a total of 125 million yuan in dividends. As of June 30, 2025, Hai Fudong Growth Value Mixed Fund (010286) is the sixth largest circulating shareholder with 334,400 shares, and Hai Fudong Selected Mixed Fund (519011) is the seventh largest with 327,700 shares, both being new shareholders [3]

证券代码：301335 证券简称：天元宠物 公告编号：2025-101 杭州天元宠物用品股份有限公司 购买资产并募集配套资金事项通知的公告 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。 杭州天元宠物用品股份有限公司（以下简称"公司"）拟通过发行股份及支 付现金的方式购买广州淘通科技股份有限公司 89.7145%股权并募集配套资金 （以下简称"本次交易"）。 公司于 2025 年 9 月 30 日收到深圳证券交易所（以下简称"深交所"）的通 知，因公司本次重组申请文件中记载的财务资料已过有效期，需要补充提交，按 照《深圳证券交易所上市公司重大资产重组审核规则》的相关规定，深交所对公 司本次重组中止审核。 一、中止审核原因 公司本次重组申请文件中审计报告财务数据基准日为 2024 年 12 月 31 日。 由于本次重大资产重组申请文件中记载的财务资料已过有效期，需要补充提交， 深交所按照《深圳证券交易所上市公司重大资产重组审核规则》的相关规定对公 司本次重大资产重组中止审核。 二、中止审核对公司本次交易的影响 本次重大资产重组中止审核对公司本次交易不构成实质性影 ...