Subsidiary Named on "3·15" Evening Gala, Donfeng Makes Public Statement in Response

Log in to Sina Finance App and search for [Information Disclosure] to see more evaluation levels.

【Introduction】Subsidiary named in “3.15” Gala, Duofuduo responds with announcement

China Fund Reporter Chenxi

The company involved was named in the “3.15” Gala, and the latest announcement has been issued!

On March 16, before the market opened, Duofuduo issued a clarification notice regarding media reports about the incident, explaining the exposure of bleaching chicken claws by CCTV’s “3.15” Gala involving its subsidiary.

Duofuduo stated that it has noted the report by CCTV’s “3.15” program team, which found that Sichuan Shufuxiang Food Co., Ltd., Chongqing Zengqiao Food Co., Ltd., and others used hydrogen peroxide to bleach and expand chicken claws during production, involving Henan Yifeng Electronic New Materials Co., Ltd. (hereinafter referred to as Yifeng Electronic) in the sale of hydrogen peroxide.

After verification, Yifeng Electronic is a controlled subsidiary of Duofuduo, with 2025 revenue of 31.152 million yuan and a net profit of -3.3872 million yuan, accounting for a small proportion of the company’s consolidated revenue and net profit, with revenue share less than 1% (2025 data unaudited).

Duofuduo stated that Yifeng Electronic has not established any form of business cooperation, brand licensing, or product production relationship with the companies mentioned in the media report, such as Sichuan Shufuxiang Food Co., Ltd. and Chongqing Zengqiao Food Co., Ltd. Its production and sales activities are unrelated to the company and its controlling subsidiaries.

Additionally, Duofuduo said it will actively cooperate with government regulatory authorities to verify relevant matters and fulfill necessary information disclosure obligations. Investors are advised to be aware of investment risks.

On the evening of March 15, CCTV’s “3.15” Gala exposed issues related to bleaching chicken claws. It mentioned that hydrogen peroxide (commonly known as double oxygen water) is used for chicken claw processing and equipment disinfection, and that Yifeng Electronic illegally sold hydrogen peroxide. Staff not only promoted the product recklessly but also directly taught “tricky tricks” to avoid risks: “Yifeng salespeople told us to put a different label on the disinfectant.” It is reported that Yifeng Electronic was also investigated for illegally providing unlabeled food additives and violating hazardous chemical management regulations.

Tianyancha information shows that Yifeng Electronic was established in March 2017, with Sun Xiaofeng as legal representative, registered capital of 50 million yuan, and business scope including the production of hazardous chemicals, food additives, hazardous chemical operation, production of detergents for food, disinfectants, etc.

Duofuduo is the controlling shareholder of Yifeng Electronic, holding 54% of its shares. Additionally, Henan Xingtu Enterprise Management Consulting Partnership (Limited Partnership), Sun Xiaofeng, Henan Jufuxing New Material Technology Co., Ltd., and Cui Social Security hold 25.6%, 14.4%, 4%, and 2% of Yifeng Electronic’s shares, respectively.

In January 2025, Duofuduo announced that the board approved the company to acquire a 54% stake in Yifeng Electronic held by Duofuduo Group with its own funds of 28.458 million yuan. At that time, Duofuduo stated that Yifeng Electronic is a company producing and selling ultra-pure chemical materials and other fine chemical products for the microelectronics industry. The acquisition of a 54% stake would help enrich the company’s electronic chemical products portfolio.

Duofuduo is a leading domestic lithium hexafluorophosphate enterprise, mainly engaged in the research, production, and sales of high-performance inorganic fluorides, electronic chemicals, lithium-ion batteries, and related materials.

As of the close on March 13, Duofuduo’s stock price was 30.85 yuan per share, with a total market value of 36.7 billion yuan.

Editor: Green

Massive information, precise interpretation, all on Sina Finance APP.