Group 1: Financial Performance - In 2024, the company achieved operating revenue of ¥2,763,726,947.39, a year-on-year increase of 35.69% [3] - Pet supplies revenue was ¥1,530,007,016.23, up 15.08%, while pet food revenue reached ¥1,175,863,791.58, a growth of 70.80% [3] - Net profit attributable to shareholders was ¥45,960,499.31, a decline of 40.13% [3] Group 2: Reasons for Profit Decline - Losses from newly established subsidiaries in the U.S. amounted to ¥13,361,600 [3] - Share-based payment expenses for the restricted stock incentive plan were approximately ¥11,089,300 [3] - Inventory impairment provisions totaled around ¥31,233,500 [3] - Increased marketing expenses due to partnerships with leading global pet food brands [3] Group 3: Market Position and Strategy - The company has established a competitive advantage through over 20 years of experience in the pet industry, focusing on supply chain management and multi-category product development [3] - U.S. market sales account for about one-third of the company's export revenue, indicating limited impact from U.S. tariffs [3][4] - The company is expanding its online retail capabilities through the acquisition of Guangzhou Taotong Technology Co., Ltd., which focuses on e-commerce [5] Group 4: Future Growth and Market Potential - The company aims to expand its domestic market presence while continuing to develop international markets [6] - In 2024, pet supplies sales were primarily international (55.36%), while pet food sales were mainly domestic (42.55%) [6] - The global pet goods market is projected to grow, with a retail scale of $193.53 billion in 2023, indicating significant market potential [7] Group 5: Operational Insights - The company has laid out plans to enhance online marketing efforts across various platforms, including Tmall and JD.com [9] - Raw material costs account for approximately 50% of production costs, with key materials including fabrics and plastics [8] - The company engages in ODM business with major international retailers, including Walmart and Kmart [7]
天元宠物(301335) - 301335天元宠物投资者关系管理信息20250424