Maiquer's unqualified milk incident follow -up: There are many problems such as low -consignment rate of milk source to be solved

New Yellow River Reporter: Du Lin

On the morning of July 1st, Maiquer's two e -commerce flagship stores removed all pure milk products. At 22:46 on June 30th, Mcquel responded to the unqualified milk incident for the first time, and issued the "Announcement on the Statement on the Two Batch of Pure Milk Sample Inspection in Media Reports", saying that the two batches involved in the two batches involved The product has been removed and sealed. A few minutes later, the sharp -eyed investors found that McWell wrote the time to July 1, 2021.

The concerns of McWell investors are still continuing. Sorting out the annual reports of Maiquer in recent years, this influencer brand also has problems such as low self -consumption rate, single product, and heavy marketing light research and development.

Do you know in advance and have the obligation to disclose the relevant information in time?

On the morning of June 30, the topic of "Xinjiang Maiquer Pure Milk is not qualified" became the first on Weibo. On the evening of the 28th, the Qingyuan County Market Supervision Bureau of Zhejiang Province issued the publicity of the 4th issue of the county's food sampling inspection in 2022. The information of unqualified products showed that the two pure milk tests produced by McWell Group Co., Ltd. By the meol, the test results were 0.318k/kg and 0.321k/kg, respectively, and its standard value was "not used".

On the 30th, the McSta WeChat index increased by 15888.21%month -on -month. Consumers poured into the Maiqu Tmall store, expressing dissatisfaction in additional comments, requesting a refund and return. On the morning of July 1st, Mc omise's Taobao and Jingdong flagship stores have removed pure milk products.

Popular science writer Yun Wuxin said that propylene glycol was approved by national standards as food additives and was also "permitted synthetic spices". He calculated according to the safety standards for propylene glycol safety standards formulated by international food additives joint expert group (JECFA). The propylene glycol content (0.32 grams/kg), 60 kg people drink 4.7 kg every day to "exceed the standard"; a 30 kg of weight drinks 2.3 kilograms a day, and it is still within the "safe range".

However, the two types of foods that are allowed to be used as food additives in national standards do not include pure milk, and the national standards are not allowed to add flavors of flavors. From the perspective of Yunwuxin, the detection of propylene glycol in pure milk means that the product is unqualified.

A small number of investors replaced Maiquer with similar theory, but most investors did not agree with such claims. On the 30th, Maiqu's stock price fell. After the non -qualified milk incident was fermented, the reporter of the new Yellow River called the Secretary of the Macquett many times and no one answered.

On the afternoon of the 30th, the Shenzhen Stock Exchange issued a letter of concern to Meloel to explain the specific situation of the company's related food sampling inspection and inspection, and explained whether the company knew the above situation in advance and whether the company fulfilled the relevant information disclosure obligations in time. In fact, at 16:00 on the 29th, China Quality News Network has released the news of "Two batches of pure milk produced by Name Meloel Group Co., Ltd.".

In addition, the Shenzhen Stock Exchange also requested that Meloel explained whether it will recall the products that have been sold and removed from the shelves. On the basis of this, it is explained whether the unqualified food inspection inspection has had a significant impact on the company's daily production and operation.

Seven hours later, McWell issued a statement for the first time, introducing the work that has been carried out, including two batches of products, which have been removed and sealed; the local regulatory authorities have entered the company to conduct comprehensive sampling testing of related products.

"The external mining rate is so high, how to ensure the quality of the product?"

In the past two years, McWell has been well known to more consumers outside Xinjiang. In 2019, Mc omise's operating income in Xinjiang accounted for 53.27%, fell to 42.36%in 2020, and further dropped to 32.08%in 2021. In 2021, nearly 70 % of operating income was contributed outside Xinjiang.

Live and cargo is one of the paths of McWell's popularity. In 2021, Li Jiaqi has brought Maiqu milk many times. Recently, at the performance briefing meeting of the Macquett listed company, some investors asked, does Li Jiaqi stop broadcasting a great impact on the company's sales? The chief financial officer of McMIC responded that from the June online marketing data, the impact was not great. During the just ended 618, Mc omise ranked first in the predetermined sales of Tmall Foods and drinks.

In the 2021 annual report, Meloel first listed the live broadcast cost of e -commerce for 9.062 million yuan. At that time, McElr's advertising fee was 4.788 million yuan, which was slightly less than 4.96 million yuan in 2020. In 2021, McWell's sales fee was 123 million yuan, an increase of 19.59%over the same period last year.

The increase in sales expenses, but the research and development costs declined. In 2021, McWell invested only 5.1876 million yuan in R & D expenses, a decrease of 1.22%compared with the same period last year, and the proportion of operating income was lower than 2020.

In addition to heavy marketing and light research and development, investors are also worried that McWell products are relatively single. New Yellow River reporters sorted out the recent three -year annual report that the proportion of dairy products accounted for increasing revenue. From 2019 to 2021, Macquett dairy products accounted for 37.92%, 53.07%, and 63.94%of their revenue, respectively. In 2021, the operating income of dairy products increased by 57.75%year -on -year.

McWell said the company's dairy products include sterilization, modulation milk, milk -containing beverages and fermented milk. On June 30, of the top 8 products in McWell Taobao flagship stores, 7 are pure milk with different packages, and the other is Dalieba. Among the products of McWell, the gross profit margin of dairy products is the lowest, lower than festival food, baked goods and others. At the same time as the proportion of dairy products has continued to increase, McMull's milk source has not kept up. At present, the McMail Cow has 5200 heads, about 15%of the milk, and more than 30 tons of Japanese milk. It is expected that the 10,000 -headed depository can be reached by the end of this year. Recently, Yao Xue, secretary of the board of directors of Maiquer, admitted that the company's cow breeding is still in the initial stage, and the structure of the cow group is also gradually adjusted. In 2021, McWell directly purchased 417 million yuan of raw milk, and the proportion of raw materials from cooperatives or farmers accounted for more than 30%of the total purchase amount.

Many investors are worried about the impact of foreign minions on profit margins and product quality. On May 10th, at the McSlord Performance Briefing Meeting, an investor was confused: how to ensure the quality of the product? And the cost will be very high. At that time, Li Jingqian, deputy general manager of McWell, said that the company ensured the quality through the measures of full -process participation and control.

After the opening on July 1, McWell's stock price fell 3.88%. At this year's performance briefing, two investors stated that they had suffered serious losses over the past few years. "Since the company has been listed, it has raised more than 900 million yuan. At present, net assets have only 880 million and a market value of more than 1.3 billion. Over the years, the main business has not improved. Is there a plan to make the main business through mergers and acquisitions and reorganize?" Facing the face of the main business? " The investor's question, the secretary of McWell said that the company currently improves the supply of milk from ranch construction, and improves production capacity through the transformation of production lines, and gradually grows bigger and stronger.

As a food processing enterprise, McWell reminded food safety risks as usual in 2021 annual reports: It does not rule out that the company has leaked due to quality management, and then a food safety incident occurs, and compensation risks will have a significant impact on the company.

Edit: Weekend

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