Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
China Feihe responds to Blue Orca report
Company response
China Feihe issued a clarification after Blue Orca Capital published a report containing allegations about the company's financial performance. Feihe said the allegations were unfounded or misrepresented facts and advised shareholders to treat them cautiously.
Company response
Clarification — 中国飞鹤
中国飞鹤(06186.HK)发布澄清公告
Source excerpt
因此，股东应审慎对待相关指控。
中国飞鹤(06186.HK)发布澄清公告，董事会注意到Blue Orca Capital于2020年7月8日刊发了一份报告，该报告载有(其中包括)对公司财务表现的指控。董事会仅此澄清，该报告中的相关指控毫无事实根据或为失实陈述。
2019
GMT Research questions China Feihe's business sustainability
Issue disclosure
GMT Research published a short-seller report questioning China Feihe's growth and the sustainability of its business. The article says the report did not present conclusive data or materials establishing fraud, and notes that GMT described the report as not a conventional short-selling report.
Company response
Ongoing disclosure — China Feihe
飞鹤方面则表示，公司将会发布公告回应此次做空报告。
Source excerpt
11月21日，沽空机构GMT Research在其官网发布了针对中国飞鹤的做空报告《AVOID： Fake or fabulous？》（需要规避：造假还是惊艳？），报告中指出，飞鹤自2014年以来成倍的增长，存在诸多不可确定性，因而质疑其未来发展可持续性。
纵观该篇报告内容，沽空机构GMT并未有以确切数据和材料指出飞鹤存在造假，而是通过与A2、健合、澳元的经营数据做比较，主观地认为飞鹤的发展并不符合市场的预期规律。