Shares of Chinese dairy producer Maiquer Group Co. Ltd. (002719.SZ) closed down 7.24% on Monday, a day after the local market watchdog confirmed that the company had put an undeclared additive in its pure milk products.
Authorities found that two batches of the Xinjiang Uyghur autonomous region-based company contained propylene glycol, a viscous and colorless liquid best known as a key additive in vape liquid, according to a Sunday post by the State Administration for Market Regulation (SAMR).
Keith Poulsen’s jaw dropped when farmers showed him images on their cellphones at the World Dairy Expo in Wisconsin in October.
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