In Shandong, a pet IPO is running out again: Good Bao pet is going on

The cat food and dog food you bought supported another IPO.

The investment industry-Tiantian IPO was informed that the Pet Bao Pet Food Group Co., Ltd. (referred to as the "Pet Bao Pet") was officially submitted to the prospectus and planned to be listed on the GEM of the Shenzhen Stock Exchange. Once the listing is successfully listed, the Shandong pet industry will add another listed company.

Headquartered in Liaocheng, Shandong, Qin Hua, the founder of Guobao Pet, was 54 years old. He graduated from Liaocheng University in his early years and has been a teacher and a deputy mayor. An experience of US inspection made Qin Hua discover the business opportunities of pet food. In 2006, he left the sea to start a business and founded the petal pet. Relying on cat food and dog food, good treasure pets will account for 2 billion yuan a year. The most well -known brand of its own is McFy, not only invited Nicholas Tse as the spokesperson, but also sponsored a lot of popular variety shows.

"Pets are like raising a child." An investor who was unnamed was sighed. From this point of view, the pet industry has similarities with the mother and baby track. At present, as there are more and more young people and elderly people living alone, pets are walking into millions of households like family members, becoming a sustenance of everyone's emotions. The unique Shandong is running out of pet food IPOs.

54 -year -old Shandong boss, I want to go to the IPO to knock the bell

KKR, Junlian Capital emerged

The story of the petal pet is from the founder Qin Hua.

Qin Hua was born in 1968 and is 54 years old. In 1985, he was admitted to the Department of Physics of Liaocheng Normal University (now Liaocheng University). After graduating from undergraduate, Qin Hua went to Yanggu No. 2 Middle School for two years, and then examined civil servants. In 1995, Qin Hua joined Shandong Fengxiang Group, a large -scale broiler production and processing enterprise, and made the deputy general manager and deputy president from the CEO assistant. Later, he also served as the deputy mayor of Anle Town, Yanggu County, Liaocheng, Shandong.

Occasionally, Qin Hua went to the United States to investigate and found that Americans had a high degree of love for pets. Pet food was usually made of chicken and duck meat. With a keen sense of business, Qin Hua thought that if pet foods were produced and processed in China, it would definitely be much cheaper than the United States. In 2006, the 38 -year -old Qin Hua resigned as the deputy mayor of Anle Town, Yanggu County to start a business.

Qin Hua has raised funds for 4 million yuan, and registered Liaocheng Guobao Pet Products Co., Ltd. At that time, he rented a lubricant factory that had been suspended for many years and was dilapidated, built a plant, purchased the first batch of equipment and raw materials, recruited the first batch of employees, and began his career career.

Over the past fifteen years, Qin Hua has led the Baobao Group to develop nearly 2. billion yuan assets, and its own more than 3,000 employees. He cats the main grain series, snack series and health products series. The main clients of Guibao pets include Wal -Mart, Smark, and Federation, such as global retailers and well -known pet brands.

In addition to the OEM/ODM foundry business, Gao Bao also founded its own pet food brand -Macofidi in 2013, facing the domestic market, and sold to more than a dozen countries such as the United States, Europe, Japan, and South Korea.

The prospectus shows that in 2019, 2020 and 2021, the operating income of Guobao pets was 1.403 billion yuan, 2.013 billion yuan and 2.575 billion yuan, respectively. The gross profit margins of the main business are 28.87%, 33.12%, and 32.79%, and the net interest rates are 0.3%, 5.54%, and 5.51%, respectively.

In recent years, Guobao pets have smashed money in marketing. Taking its brand McFudi as an example, it has spent nearly 400 million years in three years -not only hired Nicholas Tse, Yin Haoyu, Li Ba title, Gao Yixiang and other stars as spokespersons; also sponsored or sponsored or sponsored Multi -style popular variety shows, such as "You Good Life", "Living Life", "New Forbidden City", etc., and "Thirty", "Come on, you are the best" and other film and television dramas; Produced "Flegatt" produced by the palace label, combined with the "Royal Cat" culture of the Forbidden City to create a "cute pet culture" in the new era. Among the top ten brands of Tmall Pet Double Eleven Last year, McFy ranked TOP1.

It is worth mentioning that there are KKR and Junlian Capital behind the petal pets. In February 2017, Guobao Pet completed a round A financing invested by KKR; in October 2019, a Series B financing of 500 million yuan was completed, which was invested by Junlian Capital and Xingye Bank Group. Before the IPO, Guobao Pet financing a total of 900 million yuan, of which KKR is the largest external shareholder except the founder Qin Hua.

Shandong, pet IPOs come here

Through good treasure pets, we see a pet food hidden in Shandong -pet food that dominate the country.

You may not know that Shandong is becoming the province with the most pet listed companies in China. Taking pet food as an example, Shandong has four heads, including Zhong Pet, Merria, Lusha, and good treasure pets.

According to the data, Zhong pet shares were founded by Hao Zhongli in Yantai. In the 1980s, 21 -year -old Hao Zhongli became a teacher in the Senior High School of Siping, Jilin. Two years later, he took the iron rice bowl in Yantai. However, in the year of standing, he decided to join the foreign trade industry, and successively served as staff of Yantai's foreign economic and technological trading company, and deputy general manager of Yantai International Aviation Passenger and Freight. In 1998, Hao Zhongli noticed the pet snack business of the Japanese market. At that time, the domestic is still blank, so he decisively cut into the pet food industry and successively established Yantai -China Rites and Trade, Yantai Aisk Food, Yantai Zhongxing Food and other companies. Essence He is the first person to introduce "chicken jerky" pet snacks, and the pioneer of Chinese nutrition meat pet snacks.

In 2002, Ito Food and One of the Top Ten Retail Groups in Japan jointly established a joint venture -Zhong pet food. "Shandong Commercial Daily" reported this period: During the SARS in 2003, Zhongyong's shares just started, and more than 95%of the business relied on exports. However, due to the impact of the epidemic, the export business was shut down, and the entire company was almost in a state of failure. Fortunately, three months later, the development of the epidemic was controlled, the export business slowly returned to normal, and the company was operating normally.

To this day, Zhongyong Food has 11 major brands such as Wanpy Naughty, ZEAL Zhen Zhi, Dr. Hao, Happy 100, King Kitty, Jerky Time, and also operate 10 other brands of other brands. There are more than 1,000 export products, and they are sold to more than 50 countries including Japan, the United States, Germany, the United Kingdom, France, and South Korea. In October 2020, the latest market value of China pet shares was 7.5 billion yuan.

And another large pet company Lusha shares from "Vegetable Hometown" -shouguang. On March 11 this year, Lus shares officially launched on the bell on the Bei Stock Exchange, becoming the "first share of pet food" in the Beijing Stock Exchange.

Founded in 2011, the main products of Luste's pets include dried dried products, pets, pet biscuits, and pet cleansing bones. Essence

In addition, the handsome pet located in Linyi, Shandong is also a phenomenal project of the venture capital circle. At the end of May this year, Shuaike's pet announced the completion of 500 million yuan Pre-IPO round financing, led by Bailianzhi's Capital and Boyu Capital. Wait for the follow -up. This means that handsome pets will move towards the IPO next.

If there is no surprise, Guobao pets will become the third pet listed company in Shandong. So why are mostly in Shandong?

Let's take a look at the raw materials of pet food upstream. It mainly includes chicken, mutton, corn, grain and animal bone meal. As a large agricultural province, Shandong is the main origin of domestic meat chickens. This means that the material procurement is convenient, so it will naturally become the main origin of pet snacks, and it is also an important place for pet food equipment.

The scale of the animal husbandry industry in Shandong Province is large, ranking first in the country for many years. The Shandong animal husbandry system is complete and has outstanding advantages. Since 1992, the total production of meat and egg milk has ranked first in the country. Since 2015, it has stabilized at 15 million tons and annual output value of 25 billion yuan. In 2020, the feed industry output value was 156.1 billion yuan, the output value of veterinary drugs was 14.4 billion yuan, and the sales of slaughter were 220 billion yuan, ranking first in the country.

In addition, the slaughtering industry in Shandong Province is developed. The famous meat products companies such as Golden Gong, Deleis, Xiwang Foods, and Dragon Meat are distributed in Shandong Province. After these companies slaughter animals, there are a large number of internal organs and bones. Wormed into pet food. All in all, behind the development of Shandong's pet industry, the upstream raw materials are very rich.

400 billion, the pet industry explosion

A super track that is comparable to mothers and infants

The pet industry is becoming a gold track that is beyond your imagination.

In addition to common pet medical, food, washing, and beauty, pet training, agency feeding, high -end pet hotels, pet play parks, pet hotels, pet photography, pet wedding, pet funeral, pet insurance, pet insurance, pet insurance, pet insurance Pets and other services such as Tangquan, just as anyone teased that "pets are children."

As far as us, rice noodles and oils are a must -have for life. For families with pets, pet foods such as cats, dog food, snacks, and snacks are also necessary products. Just as some netizens teased that cat food, dog food, cat sand is just as important as staining.

How big is this market? Ai Media Consultation's "2021 China Pet Economy Industry Research Report" released by Ai Media Consultation shows that the scale of China's pet economy industry reached 295.3 billion yuan in 2020, a year -on -year increase of 33.5%. It is predicted that the compound growth rate of my country's pet industry will be 14.2%in the next three years, and the scale will reach 445.6 billion yuan by 2023.

At present, the most striking super unicorns of the pet track -Xinrupeng Pet. The company's predecessor was Ruipeng Pet Hospital. Founded in 1998, it started from Shenzhen and was listed on the New Third Board. In 2018, Ruipeng Pets delisted from the New Third Board, and later reorganized under the leadership of Gao Yan as Xin Ruipeng Pet -about 450 pet hospitals under Ruipeng and Barbie, An An Pets, Pet Yisheng, etc. About 700 pet hospitals under the brand merged, creating China's largest pet hospital.

At the end of September 2020, Xinrupeng's pet completed hundreds of millions of dollars in strategic financing, led by Tencent, German pharmaceutical company Boliner Yingehan and Country Garden Venture Capital strategic investment, Xuehu Capital, Orbimed, Aspex Management, Lake Bleu (Lake Bleu Capital) and many other domestic and foreign institutions followed. After the financing is completed, the new Ruipeng pet valuation is about 30 billion yuan. Prior to this, Xinrupeng's pet gathered a group of VC/PE behind him, including Dachen Cai Zhi, Tianfeng Tianrui, Hou Life Investment, Gao Yan, Sunshine Rong Capital, and CICC. The latest news is that New Ruipeng pets are conducting a new round of financing.

On the other side, the Rui faction pet plans to go to Hong Kong this year. Ruipai Pets and A -share listed companies Rip Biology belong to the same boss -Li Shoujun. He was born in Handan, Hebei, and studied at Tianjin University and China Agricultural University. At the age of 35, Li Shoujun decided to go to the sea to establish a Rupe creature and focus on the field of veterinary drugs. In 2010, Lee Shoujun and Rip Bio landed on A shares, and now the market value exceeds 7.5 billion. Two years later, the Rui faction pet was established.

For pet medicine, three companies have recently received financing -the first choice of Ruichen pet, veterinarians, and Jiyaqi. Even the "M & A Queen" Liu Xiaodan came to the pet -Ruichen pet founded in May 2021, and not long ago, it completed a strategic financing of two institutions two institutions from Chenyi Investment and El Investment.

There are also pet foods, which have been released recently -at the end of April, Douwa pets have completed tens of millions of yuan A+round of financing, which is exclusively invested by old shareholders Jinding Capital; in February, high -end pet food brand Bernard Pure This is the first time L Catterton shot in 2022.

Under the epidemic, in order to take care of the baby, more expectations have appeared. Chen Shan, a post -90s girl who worked in Beijing, was afraid that she could not go home to take care of the cat at the company. Recently, she bought a smart water dispenser, smart feeder, smart cat toilet and other peripheral equipment for cats to facilitate feeders to serve. It is convenient for her to be able to supervise remotely in real time.

A well -known startup Xiao Pei Pet has been born here, mainly for pet smart products. Since its establishment in 2013, Xiao Pei's pets have completed 6 rounds of financing, gathered Sofina, Dinghui Baifu, GGV Jiyuan Capital, Qiming Venture Capital, Zhichun Capital, Capital Capital, Kunyan Capital, Wang Gang, Chenhui Venture Capital Capital Waiting for well -known investors.

Some investors have ridiculed that pets are a golden track that is comparable to three babies. Ou Rui International data shows that from 2010 to 2020, the global pet industry market scale (excluding the pet service market) increased from 97.387 billion US dollars (about RMB 660 billion) to US $ 142.132 billion (approximately RMB 960 billion). Among them, the compound growth rate of my country's pet industry will be 14.2%in the next three years, and the market size will reach 445.6 billion yuan by 2023.

Right now, there are more and more young people who live alone and lonely, and the pace of life is relatively fast. People are more willing to restrain more feelings on pets -the pets raised are their families they choose. "From this point of view, the pet industry is similar to the mother and baby track," said a senior investor in Beijing.

The popularity of the pet economy is also a refraction of people's hearts at the moment -the life of life but not wanting to be restrained, and the relationship between people's pets is simple.

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