QIANHE(SH:603027) 21世纪经济报道·2025-03-21 09:49Core Viewpoint - The article discusses the controversy surrounding Qianhe Flavor Industry's "Qianhe 0" trademark, which has been accused of misleading consumers regarding its "zero additives" claim, leading to significant market volatility and a decline in stock price [1][3][6]. Product Testing Controversy - A report indicated that out of 13 soy sauces claiming to be "zero additives," 12 were found to contain cadmium, and 7 contained total arsenic, with Qianhe's product showing 0.0110 mg/kg of cadmium [2]. - The controversy over product testing and trademark misrepresentation has caused Qianhe's stock to drop by 7.3% over four consecutive days, resulting in a market value loss of 9.5 billion yuan [3]. Company Response - Qianhe Flavor Industry issued a statement clarifying that the detected cadmium in their soy sauce is a result of natural sources in water and soil, and that their ingredients comply with national standards [6][8]. - The company emphasized that the "Qianhe 0" trademark is a registered mark that signifies their zero additive products, which are produced under strict regulations without any food additives [6][8]. Market Performance - Qianhe Flavor Industry, established in 1996 and listed in 2016, saw a significant increase in revenue in 2023, reaching 3.207 billion yuan, up by 771 million yuan from 2022, with a record net profit of 530 million yuan [11]. - However, due to intensified market competition and the widespread adoption of the "zero additives" concept, the company reported a decline in both revenue and net profit in the third quarter of 2024, with revenue at 2.288 billion yuan, down 1.85%, and net profit at 352 million yuan, down 9.19% year-on-year [11].