Qianjiang Evening News·Hourly News Reporter Wang Yanping
Today, Wenzhou Yuanfei Pet Toy Products Co., Ltd., known as the "first stock of dog leash", was listed on the main board of the Shenzhen Stock Exchange. After opening, it hit the daily limit without any suspense, reaching 19.74 yuan, an increase of 44%.
Based on the latest stock price, the market value of the direct holdings of Zhuang Mingyun, the controlling shareholder of Yuanfei Pet, reached 755 million yuan, and the direct and indirect holdings of Zhu Xiaorong and Zhuang Mingchao, the direct and indirect holdings of Zhu Xiaorong and Zhuang Mingchao, reached 744 million yuan. Zhuang Mingchao and Zhuang Mingyun are siblings, and their family's market value reaches 1.583 billion yuan through direct or indirect holdings.
The second It Expo shows the popularity of various pet products.
The town of southern Zhejiang was born. Two A-share companies were
Yuanfei Pet and Petty Shares face each other across the road
prospectus shows that Yuanfei Pet Company is mainly engaged in the research and development, production and sales of pet products, and its main products include pet snacks, pet traction utensils, pet injection molding toys and other series of products. In 2021, the company's pet traction equipment (product) revenue reached 613 million yuan, accounting for 57.33%. Pet traction appliances mainly include traction leashes, chest straps, collars, etc., and the company is therefore called the "first dog leash".
Yuanfei Pet’s registration and office are located at No. 1, Chongle Road, Shuitou Town, Pingyang County. Coincidentally, Petty Animal Nutrition Technology Co., Ltd. (Petty Co., Ltd.), which was listed in July 2017 and is known as the "first pet food stock", has its registered place and office location at No. 2, Chongle Road, Shuitou Town, Pingyang County.
hours news reporters found through Gaode map navigation and found that the entire Chongle Road was not long. The main ones on both sides of the road were Yuanfei Pet and Petty Co., Ltd., which just happened to be across the road.
At present, there are a total of 4 A-share listed companies in Pingyang City, and Shuitou Town accounts for two, and they are all related to pet supplies.
Petti Co., Ltd.'s recent stock price trend
Petti Co., Ltd.'s main business is the research and development of pet nutrition products and other pet health products, the production and sales of pet daily necessities, pet food sales, etc. In 2021, the company's livestock rubber gum (product) revenue accounted for 33.98%, and the plant rubber gum (product) revenue accounted for 31.13%.
Yuanfei Pet and Petty Co., Ltd. both are export-oriented. The prospectus shows that Yuanfei pet sales market covers many countries and regions such as the United States, Europe, and Japan, of which more than half of them are exported to the United States. In 2021, the company's overseas sales revenue accounted for 96.31%. Petty shares accounted for 83.45% of overseas sales in 2021, and domestic sales accounted for 16.55%.
Shuitou Town, Pingyang County was once a well-known "Leather Capital". The scraps produced by leather were often discarded as waste materials. Later, everyone discovered that these scraps can be used as raw materials for pet dogs to chew food. Therefore, since the early 1990s, some local people have been engaged in the production of "dog bite rubber".
In fact, Yuanfei Pet and Petty Co., Ltd. started with "dog bite glue", and the two companies have a lot of relationships. According to media reports, Zhuang Kongying, the brother-in-law of the chairman of Petty Co., Ltd., is the younger brother of Zhuang Kongji, the founder of Yuanfei Co., Ltd. In 1990, Zhuang Kongji founded Pingyang Yuanfei Toy Products Factory, and in 2004 the company was renamed "Wenzhou Yuanfei Pet Toy Products Co., Ltd.".
day eye check information shows that in December 2018, Zhuang Kongji was still the chairman of Yuanfei Bio; after the change on December 28, 2020, Zhuang Mingyun became the chairman of the company, and Zhuang Kongji resigned for personal reasons. It is speculated that Zhuang Kongji has handed over all his equity, position and business to his children.
Pingyang County is known as the birthplace of my country's pet supplies industry. According to media reports, Zhuang Kongji's younger brother Zhuang Kongying was also the leader of the local pet industry back then. Locals said that "dog bite rubber" was the first to make it.
However, Zhuang Kongying's business development was not very smooth later. Therefore, before and after Petty Co., Ltd. went public in 2017, a farce occurred where the actual controller of Petty Co., Ltd., Chen Zhenbiao, forced the actual controller of Petty Co., Ltd. to acquire Pingyang Kongying Pet Products Co., Ltd. in the name of the company. Chen Suqin and Zhuang Kongying, the actual controllers of Pingyang Kongying Company, were Chen Zhenbiao's sister and brother-in-law.
The second Expo is crowded and crowded
The shareholding ratio of family members is nearly 80% of
There is obvious family business characteristics
Prospectus shows that Yuanfei Pet's customers are concentrated in the United States, the European Union, Japan and other countries and regions, and have long-term, stable and continuous cooperation with internationally renowned professional pet product chain stores and international large chain retailers, such as Petco and PetSmart, the largest pet supermarket chain in the United Kingdom, and Walmart and Target.
Yuanfei Pet is a typical family business, with a direct and indirect shareholding ratio of family members before issuance of up to 78.42%. This IPO issued 34.1 million shares, with a total share capital of 136.35 million shares after the issuance.
At present, Zhuang Mingyun directly holds 38.2554 million shares and 28.06% of the company's shares, and is the company's controlling shareholder. Zhu Xiaorong directly holds 18.045 million shares and 13.23% of the company's shares, while Zhuang Mingchao directly holds 15.8796 million shares and 11.65% of the company's shares. Among them, Zhuang Mingchao and Zhuang Mingyun are siblings, while Zhu Xiaorong and Zhuang Mingchao are husband and wife.
In addition, Pingyang County Shengrui Entrepreneurship Service Center, as a family shareholding platform, holds 8 million shares and 5.87% of the company's shares. Pingyang Shengrui's investment ratio is: Zhuang Mingchang accounts for 30.08%, Zhu Xiaorong accounts for 25%, Lin Jinlin accounts for 22.93%, and Zhuang Mingchao accounts for 22%. Among them, Lin Jinlin is the wife of Zhuang Mingyun, and Zhuang Mingchang is the sister of Zhuang Mingyun and Zhuang Mingchao.
Among the top ten shareholders, Pingyang Shengyu, Pingyang Shengxun and Pingyang Shengjin are all employee stock ownership platforms of Yuanfei Pet, and their partners all work in the company.
From 2019 to 2021, Yuanfei Bio's revenue was RMB 515 million, RMB 608 million and RMB 1.069 billion, respectively, and net profit was RMB 54.91 million, RMB 83.2 million and RMB 136.83 million, respectively.
Yuanfei Pet expects that based on the current operating conditions and market environment, revenue in the first half of 2022 will be 575 million to 646 million yuan, a year-on-year increase of 20% to 35%; it is expected to achieve a net profit of 85-95 million yuan, a year-on-year increase of 31% to 47%. It is expected to achieve a net profit of 80 million to 90 million yuan after deducting non-recurring gains and losses, a year-on-year increase of 31% to 47%.
After deducting the issuance expenses, the funds raised by this IPO will be invested in annual production of 3,000 tons of glue and 25 million pet traction utensils, Yuanfei pet production technology and intelligent warehousing technology transformation projects, as well as R&D center construction projects, marketing operation center construction projects, etc.
Pet economy has become a popular track
Related companies are queuing up to go public
According to the data from the "2020 China Pet Industry White Paper", the scale of my country's cat and dog consumer market has increased from 14 billion yuan in 2010 to 206.5 billion yuan in 2020, an increase of nearly 14 times, with an average annual compound growth rate of 30.88%.
The "2022 China Pet Economic Industry Market Prospects and Investment Research Report" recently released by the China Business Industry Research Institute predicts that the market size of my country's pet industry will reach 269.3 billion yuan in 2022. Data shows that in 2021, the scale of urban pets (dogs and cats) consumer market in my country reached 249 billion yuan.
However, Yuanfei Pet said that since the overseas pet product market is relatively mature, domestic pet product manufacturers, including the company, mostly sell foreign and private label sales, and only a small number of private brand products are sold, but China is still the world's main production place for pet products and supplies.
In fact, in recent years, with the sharp increase in pet-keeping population, the pet economy has become a popular track. Last month, the second Expo held at the Hangzhou National Expo Center was not only huge in scale, but also had smart feeders, pet water dispensers, pet drying boxes, pet jacuzzi bathtubs, warm and cold sofas and pet nests, as well as various pet toys, pet food, etc. The dazzling array of pet supplies made the hourly news reporters dazzled, and long queues were lined up in front of each booth.
The second Expo, a long line was lined up in front of the booth
As early as more than a month after Petty Co., Ltd. went public in July 2017, that is, in August 2017, Yantai Zhongpei Food Co., Ltd. (hereinafter referred to as Zhongpei Co., Ltd.) was listed on the A-share market. The company is mainly engaged in the research, development, production and sales of pet food for dogs and cats. The specific products cover two major categories: snacks and staple foods.
Zhongpin Co., Ltd. is a Sino-Japanese joint venture, with Ito Co., Ltd. as its third largest shareholder.After the company went public, it entered a period of rapid expansion with the help of the power of the capital market, and quickly settled into the position of the industry leader through self-built production bases + industry mergers and acquisitions.
In March 2019, China Pet Co., Ltd. also joined hands with Yuanfei Pet to establish Aitao Pet Daily necessities (Cambodia) Co., Ltd. in Cambodia, holding 49% and 51% of the shares respectively
On July 27 this year, another pet economic concept stock Guaibao Pet was approved at the first launch of the GEM, taking a key step in the A-share listing.
In addition, Hangzhou Tianyuan Pet Supplies Co., Ltd. (Tianyuan Pet) started its IPO journey on the GEM in July 2020, passed the meeting in February 2021, and submitted registration applications three times in May 2021, September 2021 and March 2022. Once the listing is successful, a leading company will be added to the A-share pet sector.
The other companies in the pet economy sector are: Fubei Pet, which launched an impact on the Shanghai Stock Exchange main board in June 2021, and Zhongheng Pet, which once sprinted to the GEM.
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