宠物行业点评：AI+宠物热度攀升，情绪价值消费快速增长

Investment Rating - The industry investment rating is "Increase" [5] Core Viewpoints - The pet economy is gaining momentum, with AI empowering the pet industry. The market for pet-related consumption, including food, clothing, travel, grooming, training, and medical care, is rapidly developing in China. Companies are innovating by segmenting consumption scenarios and needs, leading to a more complete and mature pet economy supply chain. The advancement of AI technology is expected to enhance product intelligence and transform consumer behavior and business models in the pet market [1] - The pet consumption potential is significant, with the industry space expected to exceed one trillion yuan. According to iMedia Consulting, the scale of China's pet economy reached 592.8 billion yuan in 2023, with a positive growth trend. It is projected to reach 1.15 trillion yuan by 2028. Additionally, AI-driven pet smart products are expected to account for about 20% of the overall pet products market by 2024 [1] Summary by Relevant Sections AI + Pet Application Directions - AI technology is rapidly expanding in the pet sector, covering areas such as health management, smart devices, behavior analysis, and interactive companionship. For instance, AI can monitor pet health through smart collars and cameras, analyze health trends, and provide timely alerts for abnormalities. Smart feeders can adjust feeding amounts based on health conditions, while AI translation devices can facilitate communication between pets and owners [2] Investment Recommendations - The report suggests focusing on companies involved in pet intelligence and human-pet interaction, such as Tianyuan Pet and Yiyi Co. Additionally, companies like Zhongchong Co. and Yingzi Network, which are developing smart pet monitoring products, are highlighted. Other notable mentions include iFlytek, which aims to create companion robots, and Tom Cat, which is issuing AI emotional companion robots [3]