一只“臭虾王”炸出资本“天团”：50万学生午餐，成了谁的提款机？

Core Viewpoint - The recent controversy surrounding Shanghai Green捷, a major supplier of student meals, highlights significant issues regarding food quality and safety in school lunches, leading to public outcry and demands for better meal options from parents [1][4][27]. Group 1: Company Overview - Shanghai Green捷, established in 2014, has grown to serve over 500 schools and kindergartens, providing more than 500,000 meals daily, capturing nearly 30% of the market share in Shanghai's school meal sector [4][5]. - The company was previously regarded as an "invisible champion" in the industry, with a reported revenue of 560 million yuan in 2017 and a net profit margin of 15.7%, significantly higher than many competitors [16][19]. Group 2: Recent Controversy - The incident began when a parent discovered spoiled shrimp in a school meal, leading to widespread complaints about the quality of food provided by Green捷, which has been criticized for using low-quality ingredients [1][5][27]. - Following the discovery, it was revealed that the company had been using pre-packaged and frozen foods, with over 60% of meals consisting of fried items, raising concerns about nutritional value and food safety [5][25]. Group 3: Capital and Ownership Structure - The ownership of Shanghai Green捷 involves complex offshore structures, with significant investments from major players like the Liu Yonghao family and Temasek, indicating a strong capital backing that prioritizes profit over food quality [4][12][13]. - The company has been accused of operating under a model that prioritizes cost-cutting, with meal costs reported at 6-8 yuan while charging 18 yuan per meal, leading to questions about where the profit margins are allocated [25][27]. Group 4: Market Impact and Future Prospects - The fallout from the food safety scandal has led to increased scrutiny of the company's operations, with potential implications for its parent company, KGF, which is seeking to go public [16][27]. - The rapid expansion of Green捷, with over 80 new contracts awarded since January 2025, raises concerns about the integrity of the bidding process and the quality of food being served to students [22][27].