英氏控股IPO，上市敏感期被曝产品质量争议，公开承诺是否欺骗消费者？

Core Viewpoint - Ying's Holdings Group Co., Ltd. is applying for an IPO on the Beijing Stock Exchange, focusing on infant nutrition and hygiene products, but faces challenges due to declining birth rates and recent product quality controversies [1][10]. Group 1: Company Overview - Ying's Holdings specializes in infant nutrition, particularly in scientific research on complementary foods, with core products including rice flour and hygiene products like diapers [1][10]. - The company has experienced rapid growth in 2022 and 2023, but forecasts a decline in growth for 2024, with a projected net profit decrease of 4.36% year-on-year [1][10]. Group 2: Market Challenges - The company acknowledges the risk of declining birth rates impacting the infant food and hygiene product market, which could adversely affect its business performance [1][10]. - Despite a projected net profit increase of 11.44% to 16.58% for the current year, the overall market environment remains challenging due to a continuous decrease in newborn numbers [1][10]. Group 3: Product Quality Controversy - In August, Ying's core product, infant rice flour, was reported to contain foreign objects, leading to widespread media coverage and scrutiny of its production methods [2][11]. - The company responded by asserting that all rice flour products are produced in-house and denied any outsourcing, emphasizing their commitment to quality and safety [6][15]. Group 4: Production Discrepancies - Despite the company's claims of in-house production, there are records in public disclosures indicating that a significant portion of raw materials is sourced from contracted manufacturers, raising questions about the accuracy of their statements [8][9][15][16]. - This discrepancy between public commitments and disclosed information may lead to consumer trust issues and complicate the company's IPO process [9][17].