Industry dilemma under the wave of pet economy
Recently, Boqi Pet, "China's No. 1 pet e-commerce company", released its performance report for the first half of fiscal year 2023 as of September 30, 2022. The financial report showed that revenue dropped to 589.6 million yuan, compared with 6.04 in the same period last year. 100 million yuan decreased by 2.38% year-on-year; the loss continued, at 29.5 million yuan, a 64.0% decrease from the net loss of 81.9 million yuan in the same period of fiscal year 2022. After the financial report was released, Boqi Pet’s share price fell 10% on the New York Stock Exchange.
