从"Grandpa's Farm"的洋名，到本土化的"爷爷的农场"，这家主打婴童零辅食的品牌终于撕下"洋牌"外衣。 近日，爷爷的农场正式向港交所递交招股书，拟登陆香港主板，迈出冲击资本市场的关键一步。 在招股书中，爷爷的农场对品牌的"出身"之谜作出了详细解释：品牌发展初期，为便利业务运营、精简与海外供应商的采购合作流程，"爷爷的农场"系列知 识产权的初始注册工作，由公司一位执行董事全资持有的荷兰公司完成。随着海外公司架构的全面搭建，相关品牌知识产权已悉数移交至集团附属公司艾斯 普瑞企业，由其统一持有及管理。 此番"身世"大白，也让外界对其早年的品牌营销套路恍然大悟。曾几何时，品牌方极力强调原材料的海外溯源背景，甚至在消费者谈及食品安全时，有意营 造"进口即优质"的认知错觉。 "一说食品安全就标榜'洋货才靠谱'，可细看配料表，各类添加剂却赫然在列。"有消费者对观察者网表示，靠洋牌滤镜走高端路线的爷爷的农场，"高端"得 名不副实。 五险一金变四险？ 一边是紧锣密鼓推进上市进程，谋求在资本市场抢占一席之地；一边是长期欠缴员工五险一金，累计缺口高达1740万。爷爷的农场在招股书中暴露的这一矛 盾现状，尽显其对法律法规 ...

Core Viewpoint - The company, Laiyifen, has initiated a full investigation and has taken immediate action in response to consumer complaints regarding its product, specifically the "honey date rice dumpling," which was found to contain a blood-stained band-aid [1][2]. Company Response - Laiyifen has announced the complete withdrawal of the affected batch of honey date rice dumplings and is offering consumers the option for refunds or exchanges at nearby stores, along with additional compensation of the same amount [1]. - The company emphasized its commitment to food safety, stating that each production step has designated personnel for inspection, and strict protocols are in place to manage employee injuries to prevent contamination [1]. Production and Supply Chain - The company primarily operates on an OEM (Original Equipment Manufacturer) model, with most of its products being produced by third-party manufacturers [2]. - Laiyifen's products are sourced from over 20 countries and 25 provinces in China, covering 13 core categories, with more than 1,500 OEM products [2]. Quality Control and Management - Laiyifen employs a comprehensive lifecycle management approach for its products, including planning, development, supplier management, and quality assurance [3]. - Industry analysts have pointed out that while many companies use an OEM model, the key to product quality lies in the internal control systems and the level of oversight on manufacturing partners [3]. Financial Performance - In 2024, Laiyifen reported total revenue of 3.37 billion yuan, a year-on-year decline of 15.25%, and a net loss of 75.27 million yuan, a significant drop of 231.94% compared to the previous year [4]. - The company has indicated a strategic focus on expanding its retail formats, including lifestyle stores and warehouse membership stores, to better meet consumer needs [4]. Market Reaction - Following the announcement of the incident, Laiyifen's stock opened lower, trading at 13.21 yuan with a slight decline of 0.23% [5].