Capital, Earnings & M&A
10-Year 'Meat Grinder': Who Will Win Among Shuanghui, Yurun, and Jinluo? A Tale of the 'New Three Kingdoms' in Meat Products
The 'New Three Kingdoms' pattern in the meat products industry is collapsing. The fall of the Yurun empire began on March 23 when Zhu Yicai was taken away by the disciplinary inspection authorities for residential surveillance, and with it, Yurun's 'development model' that had been aggressively pursued for 10 years is now under severe test. History repeats itself strikingly: on May 4, 1999, Gao Fenglai, chairman of Chundu Group, died of a sudden heart attack, less than two months after Chundu's shares were listed on the Shenzhen Stock Exchange and raised 400 million yuan. What followed was the exposure of the group's huge non-performing assets and massive financial black hole, and Chundu's subsequent development trajectory was like a parabola, quickly falling.
王伟