跨境电商进口与宠物食品出口双增长：佩蒂股份领跑行业

跨境电商进口与宠物食品出口双增长：佩蒂股份领跑行业

Cross-border E-commerce Import and Pet Food Export Double Growth: Petty Leads the Industry

【核心摘要】随着双十一临近，电商平台提前预热，今年双11有望成为史上最强购物节！天猫商城今晚20点准时开启预售。佩蒂股份作为国内宠物食品龙头企业，在2024年618期间表现亮眼，旗下高端品牌爵宴全网成交总额超2500万元，同比增长67%。

[Core Summary] With Double 11 approaching, e-commerce platforms have started early promotions, making this year's event potentially the strongest shopping festival ever! Tmall will officially launch presales at 8 PM tonight. As a leading domestic pet food company, Petty achieved outstanding performance during the 2024 618 shopping festival, with its premium brand Jueyan generating over 25 million yuan in GMV, a 67% year-on-year increase.

跨境电商进口与谷歌竞价推广成本分析

Cross-border E-commerce Import and Google Ads Cost Analysis

跨境电商进口业务已成为国际贸易新增长点。对于企业而言，谷歌竞价推广是获取海外客户的重要渠道。根据行业数据，宠物食品类目的平均CPC（每次点击成本）在0.5-2美元之间，具体取决于目标市场和关键词竞争程度。

Cross-border e-commerce import has become a new growth point in international trade. For businesses, Google Ads is a crucial channel to acquire overseas customers. Industry data shows that the average CPC (cost per click) for pet food categories ranges from $0.5 to $2, depending on the target market and keyword competition.

佩蒂股份：从代工到自主品牌的成功转型

Petty: Successful Transformation from OEM to Own Brand

佩蒂股份早年主要从事宠物咬胶产品出口代工，2018年开始实施"双轮驱动战略"，大力拓展国内市场。目前公司已形成集研发、制造、销售和品牌运营于一体的完整产业链。

Petty initially focused on OEM exports of pet chew products. In 2018, it implemented a "dual-drive strategy" to aggressively expand in the domestic market. The company has now established a complete industrial chain integrating R&D, manufacturing, sales and brand operations.

2024年上半年，公司实现营业总收入8.46亿元，同比增长71.64%；归母净利润0.98亿元，同比增长329.38%。其中海外市场收入6.89亿元，同比增长87.8%。

In the first half of 2024, the company achieved total operating revenue of 846 million yuan, a 71.64% year-on-year increase; net profit attributable to shareholders was 98 million yuan, up 329.38% year-on-year. Overseas market revenue reached 689 million yuan, an 87.8% increase.

全球化产能布局：公司在越南、柬埔寨和新西兰建有生产基地。新西兰4万吨高品质主粮产线已完成试生产，即将进入商业化运营阶段。

Global Production Capacity Layout: The company has production bases in Vietnam, Cambodia and New Zealand. The New Zealand plant with 40,000 tons of high-quality pet food capacity has completed trial production and is about to enter commercial operation.

中国宠物市场前景广阔

Bright Prospects for China's Pet Market

2018-2023年，我国城镇宠物（犬猫）消费市场规模由1708亿元增长至2793亿元，年复合增长率约10.3%。预计到2026年，市场规模有望达到3613亿元。

From 2018 to 2023, China's urban pet (dog and cat) consumption market grew from 170.8 billion yuan to 279.3 billion yuan, with a CAGR of about 10.3%. The market size is expected to reach 361.3 billion yuan by 2026.

宠物食品市场增速更快，2017-2023年由157亿元增长至1461亿元，年复合增长率达22.5%，远快于全球平均水平。

The pet food market grew even faster, expanding from 15.7 billion yuan in 2017 to 146.1 billion yuan in 2023, with a CAGR of 22.5%, significantly higher than the global average.

自主品牌表现亮眼

Outstanding Performance of Own Brands

公司成功打造了爵宴鸭肉干、好适嘉湿粮罐头等多个畅销单品。2024年618期间，爵宴品牌GMV超2500万元，同比增长67%，位列天猫狗零食品牌榜第二。

The company has successfully developed several best-selling products including Jueyan duck jerky and Haoshijia wet food cans. During the 2024 618 festival, Jueyan brand achieved over 25 million yuan in GMV, up 67% year-on-year, ranking second on Tmall's dog snack brand list.

投资建议：海通证券研究报告指出，随着海外市场恢复稳定和产能释放，公司业绩有望持续增长。

Investment Recommendation: Haitong Securities research report indicates that with the stabilization of overseas markets and capacity release, the company's performance is expected to continue growing.

风险提示：国际贸易政策变化、原材料价格波动、市场竞争加剧等风险。

Risk Warning: Changes in international trade policies, fluctuations in raw material prices, intensifying market competition, etc.