Yunnan Baiyao has been thundering for several days, and under the influence of negative news, on May 10, the Yunnan Baiyao stock market is in trouble, and it has lost more than 6 billion yuan.
On May 8, 2024, Yunnan Baiyao Group, a century-old traditional Chinese medicine company, suddenly fell into an unprecedented crisis. Five executives were taken away for investigation on suspicion of the loss of state-owned assets, and as soon as the news came out, it immediately attracted widespread attention from all walks of life.
Overview of the event
Yunnan Baiyao Group, as a leading enterprise in the domestic traditional Chinese medicine industry, has been winning the trust of consumers with its unique formula and excellent quality. However, a series of recent events have seriously challenged the reputation of this national brand.
Changes in the executive team
In this incident, Wang Minghui, the chairman of Yunnan Baiyao, and four other executives were not spared.
Wang Minghui, a veteran who has worked in Yunnan Baiyao for nearly 20 years, has led the company to glory with his outstanding leadership and innovative spirit. But when he was re-elected as chairman, he announced his resignation for personal reasons, a decision that is puzzling.
Market reaction
With the fermentation of the incident, the market value of Yunnan Baiyao evaporated by 6 billion in just a few days. This figure not only represents an economic loss, but also a heavy blow to the company's future development prospects.
Wang Minghui's mental journey
Wang Minghui's career is almost closely linked to the rise and fall of Yunnan Baiyao. In 1999, he joined Yunnan Baiyao, and in the face of the impact of Western medicine, he carried out drastic reforms and successfully pushed Yunnan Baiyao to a new height. His efforts have brought Yunnan Baiyao toothpaste and other products into thousands of households.
Public doubts
However, as news broke that executives had been taken away for investigation, public trust in Yunnan Baiyao began to waver. Previously, Yunnan Baiyao toothpaste was controversial because it contained tranexamic acid, and although the official response said that the ingredients added were legal, this did not quell consumers' doubts.
The history of Yunnan Baiyao
Yunnan Baiyao originated in 1902 and was developed by the famous Yunnan doctor Qu Huanzhang based on traditional Chinese medicine, and was originally known as "Qu Huanzhang Baibaodan".
Because of its excellent hemostatic and healing effect, the drug quickly spread among the people and was highly recognized. In 1955, the Qu family dedicated the secret recipe to the government, which was later produced by the Kunming Pharmaceutical Factory and renamed "Yunnan Baiyao".
With the changes of the times, Yunnan Baiyao continued to develop, and in 1993, it established a joint stock limited company and was listed on the Shenzhen Stock Exchange, becoming an industry leader. Today, Yunnan Baiyao has maintained the vitality of its century-old brand with diversified dosage forms and innovative strategies, and has become a well-known Chinese patent medicine brand at home and abroad.
The future of Yunnan Baiyao
The future development of Yunnan Baiyao is full of uncertainty. The public expects officials to find out the truth as soon as possible and restore Yunnan Baiyao's reputation. At the same time, this is also a wake-up call for all enterprises: while pursuing economic benefits, they should adhere to the bottom line of law and morality.
Write at the end
The incident of Yunnan Baiyao is not only a severe test for itself, but also a test for the trust of the entire national brand. We hope that Yunnan Baiyao can face up to the problem, actively rectify the problem, rebuild public trust, continue to be the treasure of Chinese medicine, and make greater contributions to the cause of human health."