The growing pet economy may soon welcome its third A-shares listed company.
Chinese pet food supplier Gambol (Chinese: 乖宝宠物) successfully passed the debut for the growth enterprise market on July 27. The firm intends to issue new shares of not more than 40.45 million shares and plans to raise CNY 600 million from it. These proceeds will be used to expand its food production plant, intelligent storage upgrade, R&D center upgrade and information technology upgrade.
At first, the firm focused on overseas pet food OEM processing. With its high and stable product quality and innovative features, the firm accumulated a number of well-known customers abroad, including Walmart, Smucker's, Pinnacle and others. It sells to more than 30 countries and regions such as Europe, America, Japan and Korea.
At the same time, the firm begins to develop and market its own brands. MyFoodie (Chinese: 麦富迪) is a notable example, it has Fregat extra high meat cat food, Fregat full-price freeze-dried cat food, double-combination food, probiotic legion and many other product series. The sales from the company's own brands in 2021 accounted for 51.95% of the total revenue.
According to the prospectus, the company aims to adhere to the concept of 'global vision, continuous innovation"' and strive to become the leader in the market through innovation on various levels, whether it be technology, marketing or management.
The fluffiest new economy remains fiercely contested. Specifically, in the pet food sub-market, there are domestic rivals such as Seek, NatureBridge and RANOVA.