Holding Subsidiary Yifeng Electronics Named in 3.15 Gala, Multifluor Issues Statement in Response

On March 15th, the “3.15” Gala exposed some chicken claw producers for illegally using hydrogen peroxide to bleach chicken claws. Among them, Henan Yifeng Electronic New Materials Co., Ltd. (hereinafter referred to as “Yifeng Electronics”) was named as a supplier of hydrogen peroxide. Tianyancha shows that Yifeng Electronics is a controlling subsidiary of Duofuluo (002407.SZ), a publicly listed company on the A-share market, in which Duofuluo holds a 54% stake.

In response to the above matter, on March 16th, Duofuluo issued a statement saying that after verification, Yifeng Electronics has not established any form of business cooperation, brand authorization, or product production relationship with media-reported companies such as Sichuan Shufuxiang Food Co., Ltd. and Chongqing Zengqiao Food Co., Ltd. Its production and sales activities are unrelated to the company and its controlling subsidiaries.

The announcement pointed out that Yifeng Electronics is a subsidiary controlled by Duofuluo. Its revenue in 2025 is 31.152 million yuan, with a net profit of -3.3872 million yuan, accounting for a small proportion of the company’s consolidated revenue and net profit, with revenue share less than 1% (2025 data unaudited). Yifeng Electronics has legally obtained all necessary business licenses, including the “Business License,” “Food Production License,” “Hazardous Chemicals Business License,” and “Disinfectant Product Manufacturing Enterprise Hygiene License.” These licenses are genuine and valid, and the company strictly conducts hydrogen peroxide (double oxygen water) production and operation activities within the scope of its permits.

Public information shows that Duofuluo mainly engages in the research, development, production, and sales of high-performance inorganic fluorides, electronic chemicals, lithium-ion batteries, and materials. As of the close on March 16th, Duofuluo’s stock price was 30.55 yuan per share, down 0.97%, with a total market value of 36.368 billion yuan.

Duofuluo also stated that the company will actively cooperate with government regulatory authorities to verify relevant matters and fulfill necessary information disclosure obligations. Investors are advised to pay attention to investment risks.

According to CCTV News, on March 16th, the Market Supervision Administration of Huojia County, Henan Province, issued a situation report: a joint investigation team has been established and is conducting a comprehensive review of the involved company, Yifeng Electronics, overnight. Currently, the company has ceased production and business activities, and the situation is under in-depth investigation. Based on the investigation results, the company will handle the matter seriously in accordance with laws and regulations.

(Compiled from the 3.15 Gala, CCTV News, and corporate announcements)