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Dogness (International) Corporation (NASDAQ: DOGZ) is a globally recognized developer and manufacturer of fashionable and high-quality pet products for both dogs and cats. Established in 2003 and headquartered in Dongguan, China, the company offers a diverse range of products including pet leashes, collars, harnesses, retractable leashes, and various intelligent pet products designed for convenience and pet well-being.
The company's intelligent pet products, such as app-controlled feeders, water fountains, and smart pet toys, are at the forefront of pet care innovation. Dogness also manufactures climbing hooks, pet shampoos, and other miscellaneous pet accessories. Their products are sold worldwide through a network of wholesalers and retailers, reaching markets in Mainland China, the United States, Europe, Australia, Canada, Japan, and more.
Dogness has a vertically integrated supply chain and invests significantly in research and development, holding over 200 patents and patents pending. Despite fierce competition and economic challenges, the company remains focused on expanding its market presence by developing new high-tech products and enhancing production efficiency. Recently, Dogness has implemented cost-saving measures and is exploring mergers and acquisitions to strengthen its industrial chain and improve profitability.
For the fiscal year ending June 30, 2023, Dogness reported a revenue decrease of approximately $9.5 million, or 35.1%, primarily due to reduced sales in both domestic and international markets. The company is addressing these challenges by leveraging online sales channels and targeting younger consumers with innovative smart pet products.
On November 6, 2023, Dogness announced a 1-for-20 share consolidation to comply with Nasdaq Marketplace Rule 5550(a)(2). This strategic move aims to maintain their Nasdaq listing by adjusting the authorized shares and par value. Moving forward, Dogness is committed to enhancing its brand identity, improving profit margins, and ensuring long-term growth through strategic initiatives.
Dogness (International) Corporation (NASDAQ: DOGZ) reported a remarkable 24-fold increase in its e-commerce sales in China for 2020, primarily driven by its expanded line of smart pet products. The company's online sales surged approximately 2,400%, significantly outperforming the 2% overall growth in China's urban pet market. CEO Silong Chen highlighted their commitment to research and development, introducing innovative products like the Dogness Smart GPS Pet Tracker. To support ongoing growth, Dogness plans to enhance production and logistics automation while optimizing order fulfillment capabilities.
Dogness (International) Corporation (NASDAQ: DOGZ) announced its Annual Meeting of Shareholders scheduled for May 18, 2021, at 9:00 a.m. China Time (9:00 p.m. Eastern Time on May 17, 2021). Shareholders on record as of the close of business on April 9, 2021 are eligible to vote. The meeting will take place at Conference Room 1A, Dongguan, Guangdong, China, with online access available. Further details and meeting materials will be accessible on the Company's investor relations website.
Dogness (International) Corporation (NASDAQ: DOGZ) has launched its innovative Smart GPS Pet Tracker, promising real-time tracking with pinpoint accuracy. The device features a built-in 4G SIM card, wireless charging capabilities, and a robust battery lasting over a week per charge. Set to be available in Q2 2021, the tracker provides pet parents with activity management tools and alerts for pet movements outside a user-defined area. Dogness emphasizes its commitment to innovation and safety in pet care with this product.
Dogness (International) Corporation (NASDAQ: DOGZ) announced that its operations in Plano, Texas, remain stable despite recent severe winter storms and power outages in the area. The company confirmed that its distribution facility was not significantly impacted and customer orders are being fulfilled with only minor logistics delays. The CEO praised the proactive inventory strategy implemented last fall, ensuring the company can meet increased customer demand. Dogness focuses on enhancing pet lifestyles through quality products backed by a robust supply chain and R&D capabilities.
Dogness (International) Corporation (NASDAQ: DOGZ) is encouraging pet parents to show extra affection to their pets this Valentine's Day. The company emphasizes special activities, healthy treats, and vet check-ups to enhance pet well-being. Dogness showcases top-selling products such as the Smart Cam iPet Robot, programmable automatic feeders, smart water fountains, and smart retractable leashes. These innovative products aim to foster stronger bonds between pets and their owners. Available through various retail and online platforms, Dogness continues to prioritize quality and innovation in the pet product market.
Dogness (International) Corporation (NASDAQ: DOGZ) announced the closure of an offering with institutional investors, raising approximately $7.4 million by selling 3,455,130 common shares at $2.15 per share. Along with common shares, the Company issued Class A warrants to purchase 1,727,565 shares at $2.70 each. The funds will be used for working capital and to enhance its pet product offerings. FT Global Capital served as the placement agent. The offering was registered with the SEC through a shelf registration statement.
Dogness (International) Corporation (NASDAQ: DOGZ) has announced a registered direct placement of $7.4 million in common shares at $2.15 per share. The offering includes 3,455,130 common shares and Class A warrants for 1,727,565 common shares. Additional warrants for 276,410 shares will be issued to the placement agent. Net proceeds will support general working capital needs, with closing expected around January 20, 2021.
FT Global Capital acted as the exclusive placement agent.
Dogness International Corporation (NASDAQ: DOGZ) has received orders for over 4,000 units of its 2L programmable automatic dog and cat feeders from Petco, following a successful test program. These feeders are designed with user-friendly features, including a patented anti-jamming mechanism and a backup battery. CEO Silong Chen expressed confidence in the expanded partnership with Petco, which highlights customer demand for their products. This development may enhance Dogness's visibility in the competitive pet product market.
Dogness International Corporation (NASDAQ: DOGZ) reported strong holiday sales for 2020 and anticipates sustained demand into 2021. The company's smart pet fountains drove significant sales, with models like the Smart Fountain Mini and Plus gaining popularity. CEO Silong Chen highlighted efforts to strengthen partnerships with online and retail channels while focusing on innovation for profitability.
The firm benefits from a growing trend in pet ownership amid the pandemic, which has increased demand for their product lines. Dogness remains optimistic about future revenue growth.
Dogness International Corporation has appointed Andy Alfaro as its new national sales director, enhancing its sales capabilities. With over 30 years of experience in the consumer electronics and products sectors, Alfaro has a solid track record with major accounts like Amazon and Walmart. His addition is seen as a strategic move to accelerate Dogness' growth and sales strategy amid increasing demand for innovative pet products. The company focuses on enriching pet lifestyles while emphasizing its robust supply chain and intellectual property.
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