In recent years, the demand and categories of pet products have continued to increase, and the market size has also expanded rapidly. In this industry, Tianyuan Pets has become a domestic and even international leader in pet products with its professional design, R&D, production and sales capabilities, as well as its rich product line and brand image.

In 2003, Tianyuan Pet was established in Hangzhou, with the starting point of "it wants better food", providing pets with high-quality, highly palatable and highly nutritious food, while also focusing on pets' living and entertainment , health and other needs. In the past ten years, it has occupied a leading position in the domestic market, with numerous partners and distribution channels, covering pet shops, pet hospitals, online e-commerce, supermarkets, WeChat communities, etc. across the country. It has received many honors and certifications, such as "Top Ten Brands in China's Pet Products Industry", "The Most Influential Brand in China's Pet Products Industry", "The Best Innovative Brand in China's Pet Products Industry", etc.

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International market expansion

In addition to outstanding performance in the domestic market Tianyuan Pets has also actively explored the international market, successfully entering countries and regions such as the United States, the European Union, Australia, and Japan, and has established cooperative relationships with many internationally renowned pet product retailers and e-commerce platforms, such as Walmart, Kmart AUS, TRS and Amazon etc.

The expansion in the international market benefits from its in-depth research and precise positioning of the international market, as well as its strict compliance with and adaptation to international standards and regulations. Tianyuan Pets has launched targeted products and brands based on the preferences and needs of pet owners in different countries and regions, such as Orijen/Original Prey Desire, ACANA/Akena, Tianyuan It World, etc., which have won recognition and recognition from the international market. Good reviews.

Pet products have always been highly competitive, and Tianyuan Pets is also facing competitors from the same industry in both domestic and foreign markets. According to different product categories, competitors can be divided into single-category pet product companies and comprehensive pet product companies.

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Single-category pet products companies, such as Taizhou Huamao, Tianjin Qingquan, Yiyi Shares, etc., have strong professionalism and expertise in a certain segment. Market share, but coverage and influence in other areas are weak.

Comprehensive pet products companies, such as Youpai Technology, Pet Kingdom, Pet Home, etc., have relatively rich and comprehensive product lines that can meet the various needs of pet owners. However, in some segments The professionalism and innovation in the field may not be as good as those of single-category companies.

Operational challenges and risks

The pet products industry is characterized by diverse categories and low degree of standardization, which brings certain challenges and risks to the operation of enterprises.

On the one hand, diverse categories mean that companies need to invest more resources and energy in R&D, production and sales of different products. They also need to face different customer groups and market demands, which has a great impact on the company's Management capabilities and market research capabilities have put forward higher requirements.

On the other hand, a low degree of standardization means that companies need to make corresponding adjustments and improvements to their products according to the laws, regulations and market habits of different countries and regions. They also need to face different quality inspections and Certification standards, which place higher requirements on the production quality and compliance of enterprises.

Tulai Pet Classic

< p> In addition, customer demand is characterized by a wide variety of products and high purchasing frequency, which puts forward higher requirements for enterprises’ inventory management and logistics distribution. Enterprises need to ensure stable and timely supply of products, and also need to control inventory costs. and logistics costs.

Discussion on Financial Risks

As the company’s business scale expands, accounts receivable also increase. Accounts receivable refers to the payment or service fees that have not yet been received after the company sells products or provides services to customers. It is a short-term asset of the company and an important source of operating funds for the company.

However, there are certain risks in accounts receivable. If the customer cannot pay the payment for goods or service fees on time or in full, or the customer goes bankrupt or closes down, the company may face bad debt losses, which will affect the company. cash flow and profits.

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According to Tianyuan Pet’s financial report, as of June 30, 2023, the company’s accounts receivable balance was 185 million yuan, a year-on-year increase of 38.6%, accounting for 33.26% of operating income, an increase from 28.55% in the same period last year . The company's accounts receivable turnover rate was 3.32, down from 4.01 in the same period last year. These data show that the company's accounts receivable are large in scale and the collection speed is slow, and Tianyuan Pets may have certain risks.

If the company cannot effectively manage and control accounts receivable, it may lead to the following adverse consequences:

Increase the occupation of funds, reduce the efficiency of fund utilization, and affect the company's operating activities and investments. Activity.

Increase bad debt provisions, reduce the company's net profit, and affect the company's profitability and financial status.

Increase credit risk, reduce the company's reputation and credibility, and affect the company's market competitiveness and cooperative relationships.

Brand and product strategy

Tianyuan Pet owns many well-known brands and product lines, such as Orijen/Primal Predation Desire, ACANA/Aikenna, Tianyuan It World, Tianyuan Pet nest mats, Tianyuan cat paw racks, Tianyuan smart pet products, etc.

Orijen/Original Desire and ACANA/Akena are high-end pet food brands of Tianyuan Pets. They are mainly aimed at pet owners who have higher requirements for pet food quality and nutrition. Their products are characterized by high meat content. , low carbohydrate, grain-free, additive-free and other characteristics, it simulates the original eating habits of pets, provides various nutrients needed by pets, and promotes the health and vitality of pets.

Tianyuan Ta World is Tianyuan Pet’s mid-to-high-end pet products brand. It is mainly aimed at pet owners who have high requirements for the quality and function of pet products. Its products cover pet nest mats, cat paw holders, and pet toys. , pet clothing and other categories.

Tianyuan Intelligent Pet Products is an innovative pet products brand of Tianyuan Pets. It is mainly aimed at pet owners who are interested in the intelligence and technology of pet products. Its products utilize artificial intelligence, the Internet of Things, and the cloud. Advanced technologies such as computing provide pets with intelligent feeding, cleaning, monitoring, companionship and other functions. They also provide pet owners with remote control, interaction, data analysis and other functions, realizing intelligent connections and interactions between pets and pet owners. communicate.

The expansion of Tianyuan Pets in the international market has brought huge opportunities to the company, but also brought some challenges, such as changes in the competitive environment, complexity of operational management, and risks in accounts receivable. wait. In the future, it needs to continue to leverage its advantages in research and development, production, sales, etc., and continuously innovate and optimize its brand and product strategies to adapt to different market needs and customer preferences, and enhance its brand value and market share.

It also needs to strengthen the management and control of its accounts receivable to reduce its financial risks, ensure the stability of its cash flow and profits, and provide sufficient financial support for its future development.