Evapoarity of more than 10 billion yuan in a single day!"More suitable for Chinese babies", Feihe is suspected of playing the ball?

The flying crane, which is most suitable for Chinese babies, hit the ceiling.

On July 25, China Fei Table's stock price plummeted nearly 17%in the market, evaporating the market value of more than 10 billion yuan in a single day.

It is understood that on July 22, China Feihe issued performance trailers showing that in the first half of 2022, it was expected to achieve revenue of 9.5 billion to 9.8 billion yuan, a year-on-year decrease of about 14.9%-17.4%. , A year-on-year decrease of 33.4%-42.4%.

China Feihe said that the decrease in profits in the first half of the year was mainly because Feihe actively reduced channel inventory, and the income of infant formula milk powder decreased. In fact, not only the Feihe family, due to the decline in birth rate, and the implementation of the new national standard of infant formula milk powder, the infant formula milk powder industry has begun to have declined since 2020.

But the crisis of Feihe is more than that. Its possible crisis also has this advertisement that has achieved it -more suitable for Chinese baby milk powder.

In 2015, Feihe's status in the hearts of Chinese consumers is not as high as it is now.

At that time, in the face of the regulations of foreign brands, Feihe talked about the industrial chain and the prairie, and consumers did not catch a cold. In order to stand out in a group of infant milk powder brands, Feihe began to change its strategy, told Chinese consumers to talk about the differences in Chinese and foreign diets, the differences between Chinese and foreign genes, etc., and then vigorously promoted "flying cranes, which is more suitable for Chinese babies' constitution."

Photo source: Photo.com

This slogan "More suitable for Chinese babies" not only poked the pain points of countless treasures, but also made Baoma in the country, especially second- and third -tier cities, convinced. Coupled with the overwhelming marketing actions such as spokespersons, ground promotion, and market activities, as long as the Chinese baby is mentioned, the public's mind will automatically automatically appear the shadow of flying cranes.

Feihe also successfully entered the first camp of Chinese milk powder.

However, whether Feihe is "more suitable for Chinese babies' constitution", it has always been quite controversial.

On the one hand, Zhu Danpeng, vice chairman of the Guangdong Food Safety Promotion Association, told CaiTi Media that this statement has a certain scientific basis, because the genes of Chinese and foreigners are different, and the way of diet from a young age between the two is also from a young age. has a difference. For example, many people abroad have more hair, well -developed sweat glands, and relatively many obesity, while Chinese people are different. From a scientific perspective, it is definitely necessary to match the accurate nutrition of the human body.

Secondly, Feihe has also established a comprehensive Chinese breast milk database to provide a more scientific basis for creating products that are more suitable for Chinese baby.

But on the other hand, there are opposite views.

The first is that there are 56 ethnic groups in my country. In addition, in the region, ethnic, living environment, diet structure, living habits and nutritional needs, my country's diversity is not less different than foreign abroad. And if "more suitable" is for foreign milk powder, then China should also drink different milk powder from Hainan to Inner Mongolia and babies from Fujian to Xinjiang from Fujian to Xinjiang. But in fact, China only promulgated a national standard for "Infant Formula".

In addition, the standards of infant formula milk powder in more than 160 countries, including China, are formulated in accordance with the infant formula standard milk powder formulated by the expert group of the United Nations Food Code. The difference is not very large.

For example, there are 36 EU milk powder standards for milk powder production standards, of which China covers 32 items. Although these 32 items are not completely similar, they are basically standard. For example, the colonies content in the production standard of milk powder, domestic milk powder is limited to 2 million molten colonies per 100 mg of milk powder, and European and American milk powder must not exceed 100,000 per 100 mg of bacteria.

In addition, who has certified Feihe milk powder "more suitable for Chinese babies" is also doubtful. Relevant lawyers told CaiTi Media that this statement requires certification of relevant institutions. How does the conclusion that "more suitable for Chinese baby's constitution" comes out? Which brands are more suitable for? What is the general constitution of Chinese babies? Without clearly explained instructions, the new "Anti -Unfair Competition Law" stipulates that "operators must not make false or misunderstandings of their products' performance, functions, quality, sales status, user evaluation, and honor of their products. Propaganda, deception, and misleading consumers. Operators must not help other operators to carry out false or misunderstanding business propaganda by organizing false transactions. "So," more suitable for Chinese babies' constitution " Essence

The reason for people's doubt about its milk powder also comes from its R & D costs in recent years. From 2018 to 2021, Feihe's R & D costs were 0.15 million, 109 million, 265 million, and 425 million, respectively, and the R & D costs were 1.05%, 1.09%, 1.43%, and 1.86%, which was far lower than the marketing end. From 2017 to 2021, the sales and distribution expenses of China Feihe increased from 2.139 billion yuan to 6.729 billion yuan in the early days.

The proportion of such heavy marketing and light development has also made the market always have a question: Is the performance of China's Feihe's performance promoted or marketing?

Photo source: Photo.com

From this point of view, the decline in the population of the newborn is a huge challenge to the entire infant milk powder industry.According to reports, some shareholders said, "After watching the population data last year, it was empty ... the recession of the industry, and it is useless to work hard to work.For Feihe, it is obviously more than that.In the previous prospectus, Feihe mentioned similar risks: If the value of its products and the differences between competitors are reduced or considered to be reduced, consumers may choose not to buy.Imagine: If one day, a treasure mother is buying milk powder. If she sees Feihe's products and thinks of the phrase "more suitable for Chinese babies", she suddenly fights this sentenceAfter a question mark, would she still choose Feihe as before?

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