Caixin
Jul 04, 2022 08:57 PM
BUSINESS

Chinese Dairy Producer’s Shares Sink After Additive Found in Its ‘Pure’ Milk

Maiquer milk products on sale at a supermarket in Fuzhou, Fujian province, May 18, 2021. Photo: VCG
Maiquer milk products on sale at a supermarket in Fuzhou, Fujian province, May 18, 2021. Photo: VCG

Shares of Chinese dairy producer Maiquer Group Co. Ltd. (002719.SZ) closed down 7.24% on Monday, a day after the local market watchdog confirmed that the company had put an undeclared additive in its pure milk products.

Authorities found that two batches of the Xinjiang Uyghur autonomous region-based company contained propylene glycol, a viscous and colorless liquid best known as a key additive in vape liquid, according to a Sunday post by the State Administration for Market Regulation (SAMR).

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