2026年1月6日，雀巢集团在全球31个国家和地区发布针对部分批次婴幼儿配方奶粉产品的召回通知。该 公司对用于生产可能受影响的婴幼儿配方奶粉产品的所有花生四烯酸油（ARA）及相关油脂混合物进 行检测发现，供应商提供的这种油脂原料存在质量问题，相关批次婴幼儿配方奶粉中可能存在蜡样芽孢 杆菌（Cereulide），这种细菌可能引起食源性疾病。 近日，雀巢公司在欧洲部分国家预防性召回特定批次婴幼儿配方乳粉产品。国务院食品安全委员会办公 室、国家市场监督管理总局对此高度重视，第一时间督促雀巢（中国）有限公司认真落实企业主体责 任，召回在中国境内销售的相关批次产品，切实维护消费者合法权益。雀巢（中国）有限公司已按要求 实施召回。国务院食品安全委员会办公室、国家市场监督管理总局将持续强化监管，做好相关工作，全 力保障婴幼儿配方乳粉质量安全。 （文章来源：中国经营报） ...

Core Viewpoint - Nestlé Group has expanded its recall of potentially contaminated infant formula to 50 countries due to the presence of a toxic substance, cereulide, which may cause digestive issues [1] Group 1: Recall Details - The recall affects major markets in Latin America, Asia, Africa, and the Middle East, including Brazil, Chile, China, Egypt, Qatar, Saudi Arabia, and the UAE, with at least 27 European countries also involved [1] - Nestlé China initiated a voluntary recall of all affected imported infant formula sold through cross-border e-commerce channels in mainland China [1] Group 2: Supplier and Contamination Issues - The contamination is linked to a specific raw material supplied by a global supplier, which contains cereulide, a toxin produced by Bacillus cereus [1] - The contaminated raw material is identified as an oil rich in Arachidonic Acid (ARA), a critical component in infant formula [2] Group 3: Industry Responses - DSM-Firmenich stated that the problematic ARA raw material was not supplied by them and is working to meet the increased demand for ARA [2] - Runke Bio confirmed that their products are not involved in the contamination issue and maintain strict quality control [2] - A2 Milk Company has not publicly responded yet but is in contact with testing agencies for product testing [3] - FrieslandCampina assured that their products are safe and not sourced from the implicated supplier [3] - Danone confirmed that their infant formula products do not use ARA from the affected supplier and adhere to high safety standards [3] - Yili Group stated that their ARA raw material is different from that of the recalled products and confirmed its safety [4]

Core Viewpoint - Nestlé Group has expanded its recall of potentially contaminated infant formula to 50 countries due to the presence of a toxic substance, prompting regulatory scrutiny in China [1][3]. Group 1: Recall Details - The recall affects major markets in Latin America, Asia, Africa, and the Middle East, including Brazil, Chile, China, Egypt, Qatar, Saudi Arabia, and the UAE, with at least 27 European countries also involved [3]. - The contaminated products are linked to a specific ingredient that may contain cereulide, a toxin from Bacillus cereus, which can cause gastrointestinal issues [3]. Group 2: Supplier Information - The contaminated ingredient is a type of oil rich in Arachidonic Acid (ARA), essential for infant brain and nervous system development [4]. - Nestlé has not disclosed the name of the supplier but referred to it as a "leading global supplier" [4]. - DSM-Firmenich confirmed that the problematic ARA was not supplied by them and is working to meet increased demand for ARA [4]. - Runke Bio stated that their products are not related to the contamination and have strict quality controls in place [4]. Group 3: Market Reactions - Companies like Feihe and Danone have assured that their products do not use the contaminated ARA and adhere to high safety standards [5][6]. - Feihe emphasized that their ARA is different from that used in the recalled products and confirmed no contamination issues [6]. - The stock of Jabiou, a listed company, dropped by 11.91% following the news, marking a nine-month low [5].

Group 1 - Nestlé has initiated a global recall of infant formula products in 31 countries due to quality issues with a supplier's ARA oil ingredient, which may contain a harmful toxin [2][3] - In China, Nestlé announced a preventive recall of 71 batches of infant formula, including products from brands such as "Nestlé BEBA Supreme" and "Wyeth" [2][3] - The affected brands include four in total: Lait D'or, Platinum Enfamil, Comfort Enfamil, and Wyeth [2] Group 2 - The Chinese government, through the State Administration for Market Regulation, is closely monitoring the situation and has urged Nestlé China to fulfill its corporate responsibilities regarding the recall [3][4] - Other companies in the industry, such as DSM and Runke Bio, have publicly distanced themselves from the issue, asserting that they do not supply the problematic ARA ingredient [5][6] - Domestic dairy companies like Danone, Junlebao, and China Feihe have confirmed that their products do not use the implicated ARA ingredient and have maintained high safety standards [8][9][10] Group 3 - Nestlé's global sales for the first nine months of 2025 reached 65.869 billion Swiss francs, reflecting a 1.9% decline year-on-year, with an organic growth rate of 3.3% after excluding currency effects [10] - The Greater China region, now integrated into the Asia, Oceania, and Africa region, reported a significant decline in organic growth rate of -6.1% for the same period [10]

Group 1 - Nestlé has announced a global recall of infant formula products in 31 countries due to quality issues with a supplier's ARA oil ingredient, which may contain a harmful toxin [1][4] - In China, Nestlé is recalling 71 batches of affected products, including those sold through cross-border e-commerce channels [1][2] - The recall affects four brands: Lait D'or, Platinum Enfamil, Comfort Enfamil, and Wyeth [1] Group 2 - The ARA ingredient is an Omega-6 polyunsaturated fatty acid commonly used in infant formula and dietary supplements, with major producers including DSM, Cabot, and Runke [4] - Other companies, such as Danone and Junlebao, have confirmed that their ARA sources are not related to the recalled products [8] - Nestlé emphasized that the detected toxin levels were very low, but a precautionary recall was implemented to maintain quality control [8] Group 3 - Nestlé's global sales for the first nine months of 2025 were CHF 65.869 billion, a 1.9% decline year-on-year, with an organic growth rate of 3.3% [9] - The Greater China region, now merged into the Asia, Oceania, and Africa (AOA) region, reported a significant decline with an organic growth rate of -6.1% [9] - The AOA region recorded sales of CHF 15.263 billion, a 2.7% increase year-on-year [9]

Group 1 - Nestlé has announced a global recall of certain batches of infant formula products in 31 countries due to quality issues with a supplier's ingredient that may contain a harmful toxin [1][3] - In China, Nestlé is recalling 71 batches of infant formula, including products from four brands: Lait Dujardin, Platinum Enfamil, Comfort Enfamil, and Wyeth [3][4] - The recall was prompted by the detection of a quality issue with an oil ingredient rich in arachidonic acid (ARA), which could potentially contain cereulide, a toxin that can cause gastrointestinal issues [3][6] Group 2 - The Chinese government has emphasized the importance of consumer safety and has urged Nestlé to take responsibility for the recall [4] - Other companies in the industry, such as Danone and Junlebao, have stated that their products do not use the implicated ARA ingredient and have implemented rigorous testing standards [9] - Nestlé has clarified that the toxin levels detected are very low, but they are proceeding with a precautionary recall to maintain quality control [9] Group 3 - Nestlé's global sales for the first nine months of 2025 reached 65.869 billion Swiss francs, a decline of 1.9% year-on-year, with an organic growth rate of 3.3% after excluding currency effects [10] - The Greater China region, which is now integrated into the Asia, Oceania, and Africa (AOA) region, has faced significant performance challenges, reporting an organic growth rate of -6.1% [10]

Group 1 - The core issue involves Nestlé's preventive recall of specific batches of infant formula products in several European countries due to quality concerns with supplier materials [1][4] - In China, Nestlé has recalled a total of 71 batches of products across various brands, including Wyeth and Nan, as part of this preventive measure [4] - The recall affects 47 countries globally, with 29 of those being European nations, highlighting the widespread nature of the issue [4] Group 2 - The State Administration for Market Regulation (SAMR) and the State Food Safety Office have emphasized the importance of Nestlé (China) fulfilling its corporate responsibilities in executing the recall [1] - Continuous regulatory oversight will be implemented by the SAMR and the State Food Safety Office to ensure the safety and quality of infant formula products [1]

近日，雀巢公司在欧洲部分国家预防性召回特定批次婴幼儿配方乳粉产品。国务院食安办、 市场监管总局对此高度重视，第一时间督促雀巢（中国）有限公司认真落实企业主体责任， 召回在中国境内销售的相关批次产品，切实维护消费者合法权益。雀巢（中国）有限公司已 按要求实施召回。国务院食安办、市场监管总局将持续强化监管，做好相关工作，全力保障 婴幼儿配方乳粉质量安全。 总部位于瑞士的雀巢公司当地时间8日表示，受可能存在有毒污染影响的产品已在至少50个国 家和地区启动召回。 拉美、亚洲、非洲和中东多个主要市场受影响，包括巴西、智利、中 国、埃及、卡塔尔、沙特和阿联酋，澳大利亚和新西兰亦被纳入召回范围。 涉事产品包括知名品牌Beba及特殊配方产品Alfamino。 雀巢敦促家长停止使用相关批次并 退货。消费者组织要求雀巢和监管机构就受影响国家、产品和工厂提供全面透明的信息。 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 ...

Core Insights - Nestlé is facing a significant trust crisis and financial challenge due to a large-scale recall of infant formula products across 46 countries, potentially leading to sales losses of up to 1.2 billion Swiss francs (approximately 1.35 billion USD) [1][2] - The recall was initiated due to concerns over possible contamination by Bacillus cereus toxins, which can cause nausea and vomiting, and has rapidly expanded from Europe to Asia, Latin America, the Middle East, and Africa [1] - The company's new CEO, Philipp Navratil, is under pressure to restore investor confidence and manage operational issues, with this recall exacerbating concerns about the company's internal controls and execution capabilities [5][6] Financial Impact - Analysts estimate that the recall could impact approximately 1.3% of Nestlé's group sales, with risk exposure reaching up to 1.2 billion Swiss francs [2] - Barclays analyst Warren Ackerman predicts total risk could account for 0.8% to 1.5% of group sales, while Nestlé claims the recalled products represent "far less than 0.5%" of annual sales [2] Brand Reputation - Market analysts express greater concern over the long-term damage to Nestlé's brand reputation than the immediate financial impact, highlighting disappointment in the company's execution and communication abilities [6] - Previous compliance and operational issues have already put pressure on Nestlé's reputation, including investigations by French authorities and recalls in the U.S. due to contamination concerns [6] Contamination Source - The contamination was traced back to a quality issue with arachidonic acid oil, affecting well-known brands such as NAN, BEBA, Guigoz, SMA, and Alfamino [7] Market Recovery Outlook - Analysts predict varying consumer responses in different countries, with potential risks highlighted in the Chinese market, referencing a past incident involving Danone that resulted in significant sales losses [8] - In contrast, the U.S. market has shown stronger recovery capabilities, as evidenced by Abbott's quick rebound after a similar recall [8]

涉事产品包括知名品牌Beba及特殊配方产品Alfamino。雀巢敦促家长停止使用相关批次并退货。消费者 组织要求雀巢和监管机构就受影响国家、产品和工厂提供全面透明的信息。 雀巢6日在官网发文说，公司对用于生产可能受影响的婴幼儿配方奶粉产品的所有花生四烯酸油及相关 油脂混合物进行了检测。雀巢解释说，发现供应商提供的这种油脂原料存在质量问题，相关批次婴幼儿 配方奶粉中可能存在蜡样芽孢杆菌，这种细菌可能引起食源性疾病。雀巢说，由于花生四烯酸油被广泛 用于多种婴幼儿配方奶粉，此次召回涉及多个国家和地区、品牌和产品。 雀巢婴幼儿配方奶粉的全球召回范围进一步扩大。总部位于瑞士的雀巢公司当地时间8日表示，受可能 存在有毒污染影响的产品已在至少50个国家和地区启动召回，较此前公布的30多个国家和地区明显增 加。 拉美、亚洲、非洲和中东多个主要市场受影响，包括巴西、智利、中国、埃及、卡塔尔、沙特和阿联 酋，澳大利亚和新西兰亦被纳入召回范围。 (责任编辑：鞠然) ...