Pet care may be big business in China, but don’t tell that to the many companies trying to make a living by selling everything from collars to grooming brushes and water bowls to the country’s millions of dog and cat owners. Adding to the difficulties, Chinese consumers may be curbing their spending on such non-essential products in the current climate of economic uncertainty.

Western markets where pet ownership is already quite high could provide brighter prospects for some of these Chinese pet specialists, though those markets are not only more mature but also fiercely competitive.

Those realities are all howling out in the latest financial results from Dogness (International) Corp. (DOGZ.US), whose revenue continued its downward trajectory in its latest fiscal year after peaking in 2022. We’ll review the report in more detail shortly.