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

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

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

The announcement states that Yifeng Electronics is a subsidiary controlled by Duofuduo. In 2025, its revenue was 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 is unaudited). Yifeng Electronics has legally obtained all necessary business licenses, including the “Business License,” “Food Production Permit,” “Hazardous Chemicals Business License,” and “Disinfection Product Manufacturing Enterprise Hygiene License.” These licenses are genuine and valid, and the company strictly conducts hydrogen peroxide (double oxygen water) production and operation within the scope of its permits.

Public information shows that Duofuduo 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, Duofuduo’s stock price was 30.55 yuan per share, down 0.97%, with a total market value of 36.368 billion yuan.

Duofuduo 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 be aware of investment risks.

According to CCTV News, on March 16th, the Market Supervision Administration of Huojia County, Henan Province, issued a notice: 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 operation activities. The situation is under in-depth investigation, and based on the results, it will be handled in accordance with laws and regulations.

(Compiled from 3.15 evening show, CCTV News, and company announcements)

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