HK Stock Market Move | CHEERWIN GP(06601)s stock rises more than 8%, with attention on the pet economy. The company actively expands its pet business.

CHEERWIN GP (06601) rose more than 8%, reaching an 8.8% increase as of the latest report, at 2.35 Hong Kong dollars, with a trading volume of 119.629 million Hong Kong dollars. On the news front, recently, the Agricultural Economic Research Center of the Ministry of Agriculture and Rural Affairs held a seminar on the development of the pet economy at the International Exhibition Center. Participants analyzed the development status of China's pet economy and discussed government regulation and support issues. Director Liu Jingjing of the Sustainable Development Research Office of the Agricultural Economic Research Center summarized the opinions of each expert, emphasizing the contribution of the pet economy to national economic development and its role in social harmony. Huaan pointed out that data shows that the size of China's pet economy market reached 592.8 billion yuan in 2023 and is expected to increase to 1.15 trillion yuan by 2028. It is reported that CHEERWIN GP provides consumers with one-stop home care, personal care, and pet care categories, covering insect repellent, home cleaning, air care, hand sanitizer, camphor, pet food, pet cleaning, pet deodorizing, cat litter, and other categories. In the first half of 2024, the company achieved operating income of 1.249 billion yuan, an increase of 10.3% year-on-year; net profit of 1.79 yuan, an increase of 31.5% year-on-year; the company's total cash and cash equivalents and fixed deposits amounted to 2.665 billion yuan, with a dividend total of 0.0538 yuan per share, with a payout ratio of 40.0%. Huaan stated that the company is a leader in the industry in segments such as insect repellent, air care, and home cleaning care, actively expanding in the pet business, implementing the offline store plan, and heavily expanding the offline pet stores to open up a second growth curve.