It is not by accident, however, that the recent production of ologenated slices of bread produced by plum bread (hereinafter: plum bread, 603866. Sh) by the general directorate of state market supervision (dgme) exceeded the total number of bacteria found 17 times, prompting an apology and recall. Since 2020, food safety has received serious attention as a result of complaints by consumers about various types of cyclops, flyworms, etc。
Even more worrying is the fact that in 2020-2024, net profits to the mothers of peach bread fell by 30 per cent in the first half of 2025, the product of bread fell, the market for new products was flat, the expansion in the south was weak and regional imbalances remained unresolved. At the same time, the co-ordinated wu family has accumulated more than $2 billion since 2020, while the stock pledge rate has reached 14. 46 per cent and family capital operations have raised doubts among investors。
In response to the above, it was found that the web sent a letter of interview to plumbread, which, as of the time of writing, had not been properly explained。
There are a lot of food problems
In recent times, peach libread has been caught in mass waves. According to the results of the food sampling carried out by the general directorate of state monitoring of markets, out of 35 unauthorized samples, one batch of olin sliced bread produced by the municipality of beijing's tori food company ltd., which was sold at the plaque of the peach lith and oil company's platform, was detected 17 times the total number of cases detected, with a production date of 25 april 2024 and a warranty period of 1 may 2024。
A letter of apology was posted on the official website. Peach li bread claims that the non-conforming product is the ethanol precipitous slice of bread produced at the peach li tai an factory, that the factory has, in the first instance, cooperated with the superior supervisory authority to complete the inspection and screening of the tyan factory, immediately fulfilled the recall and compensation procedures for the batch, and strengthened controls over the delivery and distribution of the product on line。
A month after the test of the peach liquor precipitous slice, on 25 august, media reports reported that a jilin internet friend had posted a video on the online platform, which showed that his own purchase of peach libread was unsealed, and the netizens questioned, “is it not a bite?”
In response to a question from the "suspect of being bit" on the internet, journalists contacted peach li bread headquarters, where staff said: "no way, the production line is fully automated, no one is present from the production to the sealed packaging, there is an automatic detector in the packaging process, every procedure includes a material, is purely mechanized, and the next step cannot be taken if the mark is exceeded"
Is a fully automated production line really guaranteed absolute control? In recent years, peach bread has been exposed to food problems on several occasions, and the disease has not been detected for the first time, nor has it been detected. For example, in 2020, the pure cake produced by shenzhen prune bread had been disqualified for exceeding the standard of propanol content, and in 2022, a fine of $50,000 had been imposed on the supervising authority for mixing flyworms into a batch of food products。
There are also complaints from consumers about peach bread. The black cat complaints platform shows that there are more than 600 complaints of peach bread, ranging from "eating a working blade" to "cool hair." in addition, in recent days, the black cat complaints platform has discovered that consumers have complained about the delay of the peach bread. On 26 august, the complaint stated that the buyer had bought bread for the last three days and that the business had not returned it. Consumers have no choice: "how can it be so hard for consumers to buy fresh food while peach li's bread is on the way?" to date, peach libreads have responded to consumers and complaints are being processed。
(figure source: black cat complaints)
The mother's net profit fell for four years in a row
Behind the acute problem of food and security, the amount of bread collected in recent years has hovered around $6 billion, with net gains falling for four consecutive years. According to the wind data, in 2020-2024, plumb bread stood at $6,335 million, $6,686 million, $6,759 million and $6,087 million, respectively, at a growth rate of 6. 24 per cent, 5. 54 per cent, 10. 8 per cent and 993 per cent, respectively, respectively, and net profit to the mother at a rate of 763 million, 640 million, 574 million and 522 million, respectively, at a rate of 13. 54 per cent, 16. 14 per cent, 10. 29 per cent and 905 per cent respectively。
(source: wind)
In the first half of 2025, the net profit from the plum bread camp declined by 2,611 million in the first half of 2025, a decrease of 13. 55 per cent over the same period; the net profit from the mother's return fell by 29. 7 per cent over the same period。
According to publicly available information, peach bread is mainly produced for the sale of bread and pastries, monthly bread and other products, of which bread and pastry sales generate approximately 97 per cent of operating income over the long term。
Perhaps affected by the problem of food and security in recent years, the financial statements show a marked decline in revenues from the peach bread and pastry business. In 2024, bread and pastry received $5,906 million, a decrease of 9. 58 per cent over the same period. In the first half of 2025, 2,585 million yuan was spent on this category, representing a substantial reduction of 400 million yuan。
(source: biannual 2025)
In order to expand the main business product, a new product has recently been launched. Now that the trough has passed, sugar-free wheat and ready-to-eat oatmeal have become new to consumers, and peach bread has been introduced successively in 2025, with new items such as cheese pine cake and alkaline bread, but it has not been able to stir up the water and has been questioned by consumers about changing products for soup. In contrast to the introduction of new products, the investment in research and development is decreasing. In 2023, r & d inputs amounted to r & d to r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d, which amounted to only 0. 5 per cent of the proceeds received, and in 2024 to r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r & d of r , which represented only r & r & d of r of r rm of r rm of r rm of r £ 23 million, a year, a decline of 31. 84 per cent。
In addition to the more monolithic products, regional imbalances are also one of the ills of plum bread. Peach bread is growing in the north-east, and its performance over the years has been characterized by the problem of “neighborhood and weakness”. In many of its financial statements, peach li bread has stressed that the south-west and xinjiang markets will be actively expanded, with further improvements in the national market layout and scale effect, based on a sustained focus on the east and south china markets。
According to the bi-annual report for 2025, the north-eastern region of peach libread received 1,044 million yuan and the north-east of china received 594 million yuan, which together account for about 62. 73 per cent. Other regions have less than 50 per cent of their harvest, and so far, the performance of the north and south of the peach bread remains uneven。
(source: biannual 2025)
In addition, in recent years, the doo li lok yee family has been engaged in frequent retrenchment operations, with more than 2 billion shares. In december 2018, u. S. G. And its co-sponsors released their pre-release shares from sale and market circulation. From 2019 to date, the wu school community has accumulated a reduction of approximately 100 million shares, with cash packages exceeding 2 billion yuan。
The reduction was accompanied by pledge financing by the controlling shareholders. As at 4 august, a total of 56. 36 per cent of the shares were held by wu sheng gang, wu shengyang, wu zhigang, shen jali and wu shengdong, and a cumulative pledge of 130 million shares, or 14. 46 per cent of the shares of the company held, or 8. 15 per cent of the company's total equity。
According to the information received, u zhigang and shen jaly are husband and wife, and wu zhengdong, wu zheng and wu zhong are the first, second and third sons respectively. Since the fall in performance in 2020, the wu family has repeatedly reduced its holdings and pledged shares, raising investors ' concerns about the stability of the company's equity structure and the financial movements of shareholders。
(reporter roche feng, financial researcher, high infection)
