As time flies, the year 2025 has quietly come to an end. This year was filled with the footprints of our struggles, the sweat of our hard work, and the joy of our harvests. Looking back at our work in 2025, we focused on precision-driven development in the pet nutrition field, achieving multi-dimensional breakthroughs in products, technology, and production platforms, with our comprehensive capabilities continuously improving. It can be said that 2025 was a year of laying a solid foundation and moving forward steadily.
Looking ahead to 2026, it will be a year of sustained efforts and steady progress. Having established our in-house scientific pet nutrition testing platform – NutriLab (Nourish Lab), defined the standard process for palatability testing, and paved the way for the scientific palatability verification platform, our next step will focus on developing the product efficacy verification platform to deliver truly functional pet food. We plan to start with systematic category research to understand pets' physiological structures, disease pathogenesis, clinical diagnosis and treatment protocols, and corresponding nutritional needs, and develop guiding documents for product development. Additionally, we will build a scientifically rigorous efficacy verification platform through multi-dimensional verification systems and efficacy evaluation methods, forming a logical closed loop of "function-mechanism-data" to realize a complete traceability chain from active ingredient screening, mechanism analysis, and actual efficacy verification to the commercialization of product transformations. This will serve as a differentiated support system to build product moats.
In the highly segmented market environment of pet nutrition and health, product scenario-based design has become a core strategy to break free from homogeneous competition. Product scenario-based design refers to integrating functional requirements with usage scenarios and product design to build systematic solutions. Based on our technical platform and market consumption trends, in the future we will focus on high-potential scenarios such as "pet-friendly travel", "pet socialization", and "home health", optimizing and upgrading product functionality, interactivity, and user experience to launch differentiated products and enrich our existing product lines.
With the continuous rise of the global pet economy, small pets (such as birds and aquatic species) are becoming new favorites in European and American households. According to Statista data, the total number of pets in Europe reached 352 million in 2023, including approximately 52 million birds and 23 million aquatic species. The global bird food market reached USD 2.1 billion in 2022 and is projected to reach USD 3 billion by 2032, indicating high growth potential for small and exotic pet products. In light of this, our company has made forward-looking layouts, combining consumption data from the small pet market with category research findings to expand and extend our small and exotic pet product lines, hoping they will become a new economic growth driver.
We are well aware that the success of any endeavor does not happen overnight. Every breakthrough in 2025 stemmed from our team's dedication to pet nutrition – from the precise capture of user needs, repeated revisions of product formulations and processes, to the continuous optimization of the supply chain system. Every step was taken with pragmatism and determination. As we stand at the starting point of 2026, full of confidence and anticipation, we will continue to uphold our original aspiration of being "pet health management experts", embrace new challenges, and create new value. A new chapter has already begun, and we will devote ourselves fully to the work of the new year with greater enthusiasm and a more pragmatic attitude, working together and forging ahead to contribute to the achievement of the company's goals.
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