Text / Zhou Su

Public data shows that with the promotion of domestic pet household penetration and industry maturity, my country's urban pet market scale is as high as 32.80%. In the next three years, my country's pet industry composite growth will still reach 14.20%. However, the performance of the listed company in the pet industry has a large phase of development. The main reason is that the core business of these listed companies is not in the country, including the mid-pet shares, Peti Shares, Yiyi Shares in the A-share pet company generally export export export It is more than 75% from financial data to more than 75%.

Last year, the Shenjiao received an IPO application of Wenzhou Yuanfei Pet Toy Products Co., Ltd. (hereinafter referred to: Source Fei Pet), and its export ratio is 95%. Source flying pets will hit the capital market with Everbright Securities and Skylarma, and proposes over 400 million yuan to expand capacity.

A large number of employees have not paid social security, and the technical staff is lower than that

From January to June 2018 (hereinafter referred to: reporting period), Yuanfei pet realizes operating income of 434.501 million yuan, 514.552 million yuan, 608.756 million yuan, 478.8539 million yuan, net profit 628.214 million yuan, 53.825 million yuan, 8,418.12 Ten thousand yuan, 646.846 million yuan, increasing income income is not increased in 2019.

Since the establishment in 2004, Yuanfei pet has been focusing on the pet product industry. After more than ten years of development and accumulation, it has become a large-scale pet product supplier in China, with internationally renowned professional pet products chain stores and international large-scale chain retail There are long-term, stable and continuous cooperation, such as US pet supplies retail giants Petco and Petsmart, the UK's largest pet chain supermarket Pets at home and international large-scale chain retailers Walmart, Target, etc. The company has developed rapidly, but the source of pets did not even end the staff of the employee. There is still a large number of employees in the reporting period.

At the end of the reporting period, the total number of employees, 674 people, 1,893 people and 2,013 people. In 2018, the number of free pet pension insurance, medical insurance, work injury insurance, maternity insurance and unemployment insurance (under: five insurance) The number of payments were 296, 296, 491 people, 491 people and 296, the number of provident fund payment is only 97 people; in 2019, the number of five insurance payments was 459, 453 people, 566, 459 people, and 459, the number of provident fund payment was 139; 2020, five insurance payments were 544, 544, 579, respectively, 544 people and 544, the number of provident fund payments is 506; at the end of June 2021, the number of five insurance payments is 603, 603, 765, 603 people, and 603, and the number of provident fund payments is 595.

According to the prospectus, there is no case in the reporting period of violations of social insurance, housing provident fund related laws and regulations during the reporting period.

In addition, the statement discloses at the end of June 2021, 84 of the source of pets and technicians, accounting for 4.17% of the total number of employees, but its undergraduate and above employees only 47 people, accounting for 2.33% of the total employees.

Source flying pets were identified as high-tech enterprises since 2015, currently facing a new round of high-tech enterprise review. As of June 30, 2021, Source Fei Pets had 57 domestic patented technology, including 4 invention patents. The only one original achieved in the invention patent, and the three items were obtained. 3 The results of the invention are from Zhuang Ming Yun (one of the real control people), Fan Snowflakes and Masut. During the reporting period, Fan Xuehua and Masake did not serve the pet.

External shareholders' net price assault stock, related party purchase and sales data is inconsistent

In December 2020, the source of Yuanfei pets increased from $ 926.8 million to $ 102.25 million. Added 957.00 million shares by Pingyang County Yongjin Entrepreneurship Service Center (limited partnership) (hereinafter referred to: Pingyang Yongjin), Pingyang County Yufeng Entrepreneurship Service Center (limited partnership) (under: Pingyang Hi Fei) Investment Partnership (Limited Partners) (hereinafter referred to: Jinda Sheng) takes the price of 6.50 yuan per share, the above shareholders' recognition is 865,0 million shares, 860.5 million shares, 100,000 shares. This increasing capital staff shareholding platform increase capital, holding platform staff, at the core staff of the company deputy director, and introducing the external shareholder Jin Damins. Jinda Sheng and the employee shareholding platform assault shares in the same price. After the increase in this increase, Jinda Sheng holds a 0.1% of the source of pets.

According to the investigation, Jinda Sheng's executive partner is Wuxi Jinda Investment Management Co., Ltd. (hereinafter referred to: Wuxi Jin Da), Wuxi Jinda's real-controlled people are Zhongzexiang.

Zhongzexiang is not only an indirect control person of external shareholders, but also a place in the staff of the staff of the source. Zhong Xixiang holds the employee hold platform Pingyang County Yuru Entrepreneurship Service Center (limited partnership) (hereinafter referred to: Pingyang Yu) 21.33% investment, and Zhong Xixiang holds Pingyangyuan Ruiji Entrepreneurship Investment Partnership Co., Ltd. (limited partnership) : Pingyangyuan Rui) 26.67% investment. Pingyangyuan Ruiyi Zhu Xiaolong is the implementation of a business partner, and the actual controller Zhuang Ming will account for 36.67%. According to the prospective book, Zhong Zexiang is a member of the Source of the Pets Securities Affairs. It is worth noting that the source flying pets also jointly jointly set up a subsidiary with the Pets of the Competitor, and generated a related transaction with the mid-pet shares.

Ai Tao Pets Life (Cambodia) Co., Ltd. (hereinafter referred to: Cambodia loves to Tao), Founded in March 2019, July, Yuanfei pet introduced the mid-pet shares and transferred 49% of the shares of Cambodia. Cambodian Amoy Tao is a source of pets, and is positioned as a development and production of pet snacks. Since the mid-pet shares are also the shareholders of Cambodia, I will continue to develop and prevent unfair competition in the source of the source of pets and the mid-pet stock, and the overseas subsidiary of the mid-pet shares will be Amoy Tao in Cambodia. Dealer docking terminal customers.

After the two companies held hands, 2020 and 2021, June, the subsidiary of the medium pet shares, Inc. (hereinafter referred to: US Good Ship), the top five major customers of the source, the sales amount is 77.5439 million yuan. 9.83.716 million yuan, accounting for 12.79%, 20.65%, respectively, with the present invention, and Cambodian Amoy Tao, 9.85.48 million yuan, and $ 9,55.48 million. It is basically the same.

However, according to the annual report of the mid-pet, the mid-pet shares on Cambodia is 536.671 million yuan; from January to June 2021, the medium pet share purchased 943.38 million yuan to Cambodia. The data difference between the two 2020, more than 20 million yuan.

The same is true for large suppliers. From January to June 202, 2021, the subsidiary of the medium pet shares, Yantai Naughty International Trade Co., Ltd. (hereinafter referred to: Naughty International) became the first major supplier of Yuanfei pet, the purchase volume is 6,517.17 million yuan, 45.442 million yuan, respectively. The total purchase is 14.09%, 13.31%.

According to the prospectus, Cambodia Amoy Tao is selected in the early days of the production of suppliers, and the economy is negotiated by the marketization and procurement through naughty international agent. In the 2020 annual report, it disclosed that the association transaction was disclosed, and its sales amount to Cambodia is 83.264 million yuan; from January to June 2021, the Sino-Pet Shareon's sales amount of 4,4176,500 yuan, and it is also 2020 years. Data is different.

In summary, the source flying pet did not end the obligation to pay social security as an employee during the reporting period, and there was also a conflict with the competitors and the transaction data of both parties.