Recently, a counterfeiting storm involving a well-known condiment company, Chubang, has caused an uproar on social **. Wang Hai, a well-known anti-counterfeiter, posted on Weibo, saying that he had received a real-name report from Gao Tingming, the former production director of Chubang, pointing to serious quality problems in the oyster sauce produced by Guangdong Delicious Fresh Seasoning Food, the core enterprise of the listed company Zhongju High-tech Industrial Co., Ltd. As soon as this news was released, it attracted widespread attention and market shock.
According to the content of the report letter, the content of oyster juice in Chubang series oyster sauce and delicious fresh series oyster sauce accounts for only 16%, which is well below the national standard for oyster sauce. In the provision of amino acid nitrogen, the core index of oyster sauce, the use of additive monosodium glutamate is 61 of the raw materials5 times, which clearly violates the requirements of the national standard for oyster sauce. What's even more shocking is that the company also deliberately increased the amount of oyster juice used 10 times on the ingredient list on the label, which is suspected of false labeling.
As a well-known brand of delicious fresh seasoning food in Guangdong, Chubang has always been known for its high quality and good reputation, and has won many awards, including "China Time-honored Brand" and "Guangdong High-tech Enterprise". This incident has undoubtedly brought a serious crisis of trust to this time-honored brand.
In the face of this accusation, Zhongju High-tech said that it was aware of the matter, and emphasized that there was no problem with the quality of its products, and there was an inspection report issued by a third-party organization as evidence. The company also said that there were no false declarations and had reservations about the reports of former executives. However, this response did not completely quell the suspicions.
The Guangdong Zhongshan Municipal Administration for Market Regulation attaches great importance to this matter and has organized and carried out relevant verification work. The intervention of the market regulator will further uncover the truth of the incident and provide clearer information to consumers and investors.
Yao Zhenhua, the actual controller of Zhongju High-tech, was no longer the controlling shareholder of the company at the time of the incident. According to the company's 2023 semi-annual report, Yao Zhenhua was removed from his relevant position after a general meeting of shareholders in July 2023. However, Baoneng Group subsequently issued a statement saying that the shareholders' meeting was illegal and that the original directors would continue to perform their duties. This internal strife undoubtedly complicates the matter.
Despite the continuous internal disputes in the company, the performance of Zhongju High-tech has shown a positive trend. According to the company's annual performance profit forecast, it is expected that the net profit attributable to shareholders of listed companies in 2023 will turn losses into profits, reaching about 15$3.4 billion to $184.1 billion yuan. This performance expectation may alleviate concerns about the company's future development to some extent.
The fermentation of the Chubang oyster sauce fraud scandal has damaged the brand image of the company, regardless of the size of the enterprise, product quality and integrity management are always the key to winning market recognition. Only by adhering to this principle can enterprises be invincible in the fierce market competition. Finance