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Yixian E-commerce Receives US$120 Million In Strategic Investment, And Baylor Group Expands U.S. Cheese Production Capacity-Lijin Finance

Yixian E-commerce Receives US$120 Million In Strategic Investment, And Baylor Group Expands U.S. Cheese Production Capacity

Recently, Legend Holdings announced that in order to continue to promote the listing of Xinrongmao Fruit Technology Group Co., Ltd. (Xinrongmao), an indirect subsidiary that holds approximately 39.46% of the shares, and to open up the capitalization path of the group’s fruit sector, Joyvio and Xinrongmao’s management team have gone through multiple rounds of full consultations.

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  • Huang Ying 2026 Music Concert Concluded Successfully! Singing A New Song For The First Time, Interpreting Growth And Transformation

    On the evening of January 25, 2026, Huang Ying's "It's time for Ying to go - 2026 Music Concert" hosted by Yuanwang Technology came to a successful conclusion in a warm and cheerful atmosphere. This performance, which has the dual meaning of a birthday celebration and a music feast, lasted for more than two hours. It not only brought fans 16 song interpretations of different styles, wonderful interactive sessions and heart-warming blessings, but also connected Huang Ying's growth trajectory from her debut on the "Quick Girl" stage to the present, allowing "Yingshanhong" to witness the perseverance and transformation of a singer in her singing. Li Sheng and Li Yitong helped out as surprise guests and sang classics such as "Last Night Wind Tonight" and "Please Fall in Love with Me Like This" with Huang Ying. For Huang Ying, this performance is "not the end, but a new starting point."

    How to write "the original intention leads the voyage" and "the original intention leads the voyage"

    The original intention is as solid as rock: the spiritual charm of folk songs is always present, and the first singing of new songs conveys the glimmer of light

    At 18:00 that night, as the lights dimmed, the pilot film "It's Time for Ying to Go" slowly played on the big screen. Huang Ying took the stage in the dark and kicked off the performance with a powerful song "Beyond the Thorns, the Whole Sea of ​​Flowers". This new song, the only "early audio-visual version" in the world, is exclusively sung for the birthday party. Her gratitude to fans and persistence in chasing dreams are integrated into every lyric. The official sound source was also launched online after the birthday party, giving the "Azaleas" the most precious birthday benefits. Immediately afterwards, "Don't Panic When the Sun Goes Down and There's Moonlight" soothes anxiety with a gentle and healing melody, while "Flower of Inheritance" highlights cultural heritage. The three songs are sung in succession, from a sea of ​​thorns and flowers to spiritual comfort and cultural inheritance, quickly pushing the atmosphere of the scene to a climax.

    As a talented singer who came out of the audition stage, Huang Ying's singing has always carried a unique mountain spirit, and folk songs are her signature label. At this concert, she presented a trilogy of Chinese-style songs "Ji Jian Shan", "Crazy Dream" and "Chan Wu", which perfectly blended traditional charm with modern music elements. The blessing of Chinese drums during the performance of "Ji Jian Shan" made the stage full of classical tension. The finale of the classic song "Azalea" instantly awakened the collective memory of the audience. In Huang Ying's clear and resonant voice, the audience stood up to sing the chorus. Time seemed to go back to when she first appeared on the stage. Her original intention has not changed and her feelings remain the same.

    Friends walking together: Time tempers tacit understanding, and the two-way journey warms people's hearts

    This carnival is also a "reunion of old friends". Huang Ying and Li Sheng, who met in a variety show more than ten years ago and exchanged contact information with each other's phone numbers, once again sang "Last Night Tonight" on the same stage. The tacit performance was ridiculed by the host Sun Xizhi as "a live version certified by long-time friends". From text messages and phone calls in the pre-WeChat era, to fighting side by side on the stage of "Sister Lang", to the warm chorus at this birthday party, the friendship between the two has become more mellow over time. Li Sheng also sent the most sincere blessings and expressed the most sincere expectations between old friends.

    The appearance of another surprise guest, Li Yitong, injected more youthful vitality into the performance. The two sang "Please Fall in Love with Me Like This", which was full of sweetness. The bubble machine on the stage complemented the cheerful melody. Li Yitong's blessing of "as free and easy as the mountain breeze, as dazzling as azalea" not only fits Huang Ying's musical temperament, but also demonstrates the sympathy between the new generation of singers and their predecessors. "Go Away", sung by three people on the same stage, ignited the audience with its high-spirited melody, and the whole audience sang in chorus, vividly interpreting the theme of "departure".

    Going both ways: Fans’ companionship provides confidence, and heart-warming interactions show true love

    The companionship of the "Yingshanhong" people is Huang Ying's greatest confidence in persisting in her music dream. This carnival has multiple interactive links, making this two-way emotion even stronger. During the Truth or Dare session, Huang Ying randomly selected fans to ask questions and shared her feelings without reservation; Sister Lang's stage songs such as "If the Moon Has Not Come Yet" and "Big Mountain" were instantly recognized, showing the deep bond between fans and singers. The Polaroid autograph bonus session brought the lively atmosphere to its peak. Many lucky fans received autographed photos, and fans also sent their blessings, which was simple and sincere.

    During the performance, two VCR clips brought tears to the eyes. "Huang Ying's Classic Debut Stage Review" took the audience to relive her transformation from a young newcomer to a mature singer, and every stage moment witnessed her growth and persistence; "Huang Ying's Daily Sharing" VCR allowed the audience to see her true and lovely personality off the stage, and the birthday blessing VCR recorded by friends off-site conveyed her feelings across mountains and seas, filling the scene with warmth. Huang Ying said frankly on stage: "This year has not been easy. It is your support along the way that gives me the courage to continue singing." This frankness and gratitude made many fans at the scene burst into tears.

    A new journey begins: 2026 is full of energy and we look forward to reaching new heights on our music journey.

    During the Talking session, Huang Ying shared her new plan for 2026. She said emotionally: "Every rain is made by you with me; every sun is lit by you!" The short words are full of gratitude to the fans and expectations for the future. In the subsequent dance solo session, Huang Ying showed off her versatile side, and her agile dancing won applause from the audience, making people look forward to her future diverse stages. The encore song "Hope You Are Loved by the World" brings a successful conclusion to this musical journey with a gentle melody, and also conveys her best wishes to the world and fans.

    From her stunning performance of "Azalea" on the Kuainu stage in 2009 to her solo music concert today, Huang Ying has been on the music road for more than ten years. In her singing, there is the purity of the mountains, the persistence to pursue dreams, the gratitude to her fans, and the love for life. This "It's Time to Go" 2026 Music Concert is not only a birthday celebration, but also a review of original aspirations and the beginning of a new journey. As the theme of the concert says, 2026 has just begun. With the love and support of "Azalea", the expectations of old friends and her own persistence, Huang Ying will continue to bravely set off on the road of music, climb higher mountains, bring more high-quality works to the audience, and write a new chapter of her music.

  • Shandong University Of Finance And Economics Graduate Student’s Ph.D. Examination Experience: Wuhan University Failed, Then Competes With Shenzhen University

    Dad, Mom, I don’t want to work yet and plan to continue studying for a doctoral degree.

    My daughter is studying for a master's degree in economics and management at Shandong University of Finance and Economics. We, the old couple, originally planned to let our daughter take the civil service and professional education exams, but she insisted on studying for a doctorate.

    In the end, we respect our daughter’s wishes and support her in continuing to apply for doctoral studies.

    The first school my daughter applied for was Wuhan University. The master's tutor advises caution, because the competition at Wuhan University is fierce, and there are many places available for master's and doctoral transfer students, so candidates from non-prestigious universities in other provinces have no advantage.

    But my daughter still plans to give it a try. With two Chinese core papers published during the master's degree, the materials were reviewed and approved. A while ago, my daughter took the high-speed rail to Wuhan University to take the re-examination.

    The re-examination was divided into a written test and an interview. My daughter performed well in the written test, but the interview was a bit nervous. Facing multiple doctoral supervisors, my daughter was a little stuck from the beginning of self-introduction. She originally remembered fluently, but her brain was a little blank. During the English Q&A session, I didn’t even understand the teacher’s questions, and I stumbled over my answers. The content of the PPT report was acceptable, but the teacher asked more in-depth questions. My daughter did not consider them in advance and the answers were not comprehensive enough. In the end, she was not admitted to Wuhan University.

    The second university to apply for assessment is Shenzhen University. After learning from the failure of Wuhan University, this time my daughter fully communicated with her master's tutor, and contacted her doctoral tutor in advance through the master's tutor's network. She expressed her strong intention to study for a doctoral degree and further discussed her research plan during her doctoral period.

    My daughter prepared all the application materials as required and mailed them to Shenzhen University.

    I hope my daughter’s application to Shenzhen University will go smoothly this time.

    Does your child plan to work directly after graduation this year or continue his studies?

  • Investors’ Expectations Weakened, Bitcoin And Other Cryptocurrencies Fell, And Ripple Fell More Than 5%

    Cryptocurrencies including Bitcoin fell as investor expectations for a rate cut from the Federal Reserve weakened. Bitcoin fell to $115,100, its lowest level since July 11. At the same time, Ethereum fell by about 2% and Ripple fell by more than 5%.

    Ripple_The impact of U.S. employment data on the cryptocurrency market_The impact of investors’ weakening expectations of a Fed rate cut on Bitcoin prices

    Bitcoin rose to an all-time high of $123,200 last week, continuing a steady upward trend driven by optimism about an improving U.S. regulatory environment and massive inflows into crypto investment products. However, Rachael Lucas, an analyst at cryptocurrency trading platform BTC Markets, said: “While the overall upward trend remains intact, momentum has weakened and traders have become more cautious.”

    Data released on Thursday showed that the number of people filing for unemployment benefits in the United States for the week ended July 19 was 217,000, falling for the sixth consecutive week and still the lowest level since mid-April, lower than market expectations of 226,000 and the previous value of 221,000. In addition, the number of people filing for unemployment benefits in the United States fell slightly to 1.955 million in the week ended July 19, which was lower than market expectations of 1.96 million and the previous value of 1.956 million. Although weak hiring has made it difficult for many laid-off workers to find new opportunities, the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating that labor market conditions remain stable. Better-than-expected employment data also provided reason for the Fed to continue to act cautiously.

    In addition, the market's bearish sentiment is also reflected in the derivatives market. According to prime broker FalconX, an unidentified speculator paid approximately $5 million in option premiums on the Deribit exchange to purchase a batch of Bitcoin put options expiring on August 8 with a strike price of $110,000.

    IG Australia analyst Tony Sycamore said: “We expect Bitcoin prices to continue to consolidate before remaining below the current monthly trend line resistance of approximately $125,000.” He said that this trend line was the key technical level that prevented Bitcoin from continuing to rise last week.

  • State Grid’s Fixed Asset Investment Surged From January To February, Accelerating The Construction Of Power Grids At All Levels

    State Grid Corporation of China resolutely implements the decisions and arrangements of the Party Central Committee and the State Council on stabilizing growth and expanding investment, and continues to regard expanding effective investment as a key task in business development. On the basis of achieving a "fast start" in January, the State Grid Corporation of China took advantage of the momentum in February to accelerate the construction of power grids at all levels, and fixed asset investment achieved "acceleration". Statistics show that from January to February, a total of 75.7 billion yuan of fixed asset investment was completed, a year-on-year increase of 80.6%. The basic support of the power grid and the pulling effect of investment were significant.

    _State Grid Corporation’s fixed assets_State Grid Corporation’s total fixed assets

    The 1000 kV Yanwei high-voltage AC power transmission and transformation project under construction

    Since the beginning of the year, State Grid Corporation of China has coordinated safety, quality and progress, vigorously promoted the construction of UHV and main grids, implemented a number of production technology transformation and distribution network infrastructure projects, continued to optimize the backbone power grid, ensured reliable power supply, accelerated the comprehensive green transformation, and injected strong impetus into high-quality economic and social development.

    We will build strong projects such as ultra-high voltage and pumped storage energy. The "eight intersections and four direct lines" UHV projects under construction by State Grid Corporation of China and related flexible mutual aid projects, as well as 37 pumped storage power station projects, are progressing as planned. The State Grid Corporation of China has made advance plans for work resumption before and after the Spring Festival. From February 24, it dispatched a supervision team to the front line to carry out special supervision, supervise the comprehensive implementation of the "Five Basic Conditions for Resumption of Work" and standardized resumption procedures on site, and strictly carry out comprehensive capability assessments of work teams to ensure that all projects can resume work and production as soon as possible safely and efficiently.

    _State Grid Corporation’s total fixed assets_State Grid Corporation’s fixed assets

    Employees of Jiangsu Provincial Power Transmission and Transformation Co., Ltd. connect voltage transformers and arresters at the site of Yancheng Gaorong 500 kV power transmission and transformation project

    The construction of power transmission and transformation projects from 35 kV to 750 kV has been steadily advanced and achieved phased results. State Grid Corporation of China has deepened the operation of hierarchical and classified management and escalation control mechanisms for projects, promoted the orderly approval and construction of projects, scientifically arranged project progress plans, and strived to achieve a balanced rhythm of tasks. In February, the Qujiang pumped storage 500 kV transmission project in Zhejiang and the main transformer expansion project of Fule 500 kV substation in Sichuan were put into operation. The 500 kV power transmission and transformation project of Aqi Beifeng Collection Station in Chifeng, East Mongolia and the 500 kV power transmission and transformation project in Xingbei, Hebei are being accelerated as planned.

    In terms of power grid production technical transformation and distribution network infrastructure projects, State Grid Corporation of China plans overall arrangements for the year, strictly implements the work plan, implements classified policies to efficiently promote key links such as project procurement, construction, and settlement, promotes project progress in an orderly manner, and drives coordinated development of the entire chain and industry. As of March 6, State Grid Corporation of China has started 160,000 power grid production technology transformation and distribution network infrastructure projects, with a total investment of 33.73 billion yuan completed, a year-on-year increase of more than 150%.

    State Grid Corporation’s total fixed assets_State Grid Corporation’s fixed assets_

    State Grid Xinyuan Jiangxi Fengxin pumped storage power station upper reservoir construction area

    The State Grid Corporation of China will conscientiously implement the spirit of the National Two Sessions, coordinate the annual investment plan, continue to accelerate the construction of power grids, give full play to the leading role of the industrial chain, effectively ensure national energy security, serve the green and low-carbon transformation, and provide dynamic support for achieving a good start in the "15th Five-Year Plan".

  • The Automotive Aftermarket Is Huge, And Individual Stores Urgently Need To Improve Their Supply Chain And Management Capabilities.

    According to data predictions from the "2019 China Automotive Aftermarket Industry Research Report", the size of my country's auto aftermarket market in 2018 will reach 120 million yuan, which is about half the size of the U.S. aftermarket. However, the number of companies in my country's aftermarket has reached twice that of the United States, and the market share of 4S stores in China's market structure is as high as 77%, far exceeding the foreign level of about 30%.

    Cluster Chebao, which 36Kr recently came into contact with, is an Internet empowerment platform for the automotive aftermarket industry. It helps auto service stores transform and upgrade through the S2B2C model to output standardization, digitization, informatization and intelligence, improve upstream and downstream efficiency of the industry chain, reduce costs, and improve user service experience. Its business areas include car beauty, repair, sheet metal painting, car modification, second-hand cars, car insurance inquiry, roadside assistance and other automotive aftermarket services.

    There are a huge number of service providers in my country's automotive aftermarket, but the market share is still firmly occupied by a few brands such as 4S stores. Auto parts repair stores mainly exist in scattered forms such as mom-and-pop shops. Scattered B-end stores do not have symmetrical spare parts information and internal management capabilities, and customer retention rates are generally low. my country's current car ownership has increased year after year since 2010, reaching 250 million in 2019. However, because the warranty period of original parts is about 4 years, the growth of the automotive aftermarket will have a lagging effect. If individual stores want to seize the growth points of the automotive aftermarket in recent years, they urgently need stronger supply chain integration capabilities and corporate management capabilities to improve service quality. According to data from the "2019 China Auto Users Online Maintenance Report" compiled and released by Tencent, the market penetration rate of online car maintenance outside the 4S store system has reached 16% in 2018, far exceeding the 5% in 2015. The overall online channel in the auto maintenance market has shown a significant upward trend.

    Cluster Chebao franchise model_Automotive aftermarket S2B2C model_Automotive aftermarket value-added services

    Cluster Chebao integrated system architecture diagram

    Auto parts maintenance is an asset-heavy and highly regional industry. If an enterprise wants to expand and replicate quickly, it will face higher direct operating costs and restrictions on cross-regional expansion. Therefore, we have noticed that many after-market service companies expand their markets through franchises and joint ventures and export their production and operation models. Since its establishment in 2013, Cluster Chebao has mainly been engaged in self-operated store business and has been intensively deployed in Guangzhou. After integrating the supply chain and management system, Cluster Chebao focuses on the output expansion of the model. Due to the asset-heavy nature of after-market services, self-operated expansion is no longer the fastest way to implement it. It has begun to implement through franchise and joint venture platform expansion.

    Cluster Chebao currently has 135 stores, 86 of which are directly operated stores. Combined with the agglomeration of the automobile manufacturing industry in Guangzhou, the initial cluster Chebao conducted self-operated store business through self-built intelligent warehouse distribution, logistics and direct sales supply chain models. At the same time, it developed an independent ERP system to link stores and headquarters, and independently developed an enterprise SaaS system for auto repair and auto parts. 36Kr once conducted an exclusive interview with Cluster Chebao after it completed its Series A financing in 2016 (for more information, please click here). At this time, the Cluster Chebao development center focused on the integration of the automotive aftermarket supply chain and the expansion of the direct operation model, and established a service platform for vehicle model data and accessories data.

    Automobile aftermarket value-added services_Cluster Chebao franchise model_Automotive aftermarket S2B2C model

    Cluster Chebao S2B2C model diagram

    In 2019, Cluster Chebao is already replicating the model and exporting the supply chain and management platform built by its 7 years of data accumulation. The average output value of a single store of its direct-operated stores is about 280,000 yuan. Currently, franchisees are concentrated in individual auto repair stores in Foshan, Guangzhou. Cluster Chebao is also gradually exporting its model through urban partners in Hunan and Guangdong provinces. Franchisees can obtain corresponding maintenance standards, supply chain, information systems, training, logistics and warehousing through the platform. After traditional small and medium-sized stores join the cluster car insurance platform, they still maintain their original brands and stores for operations.

    Gao Qunqun, founder and CEO of Cluster Chebao, told 36Kr that Cluster Chebao’s empowered franchise model is the transformation and upgrading of existing stores. Franchisees will use its supply system, ERP system, SAAS system, training system, insurance platform, and second-hand car platform. The S2BSC model is different from the B2C platform. The B2C platform mainly obtains profits from selling auto parts, while the S2B2C model integrates upstream suppliers and downstream terminal auto service stores, and then expands it with value-added services in the aftermarket. Franchisees do not simply obtain the upstream supplier information of Cluster Chebao. They do not need to directly purchase auto parts. Instead, they obtain the goods and sell them through the Cluster Chebao platform. This can reduce the franchisee's operating costs and alleviate the franchisee's capital turnover problem. In terms of maintenance services, Cluster Chebao has established a remote technical diagnosis center to solve technical service problems for some difficult and niche vehicles. Currently, China-Taiwan data includes 308 vehicle brands and electronic catalog information of 1.6 billion parts.

    Different from the traditional platform profit model, which mainly focuses on franchise fees, Cluster Chebao's existing model does not charge franchise fees, but obtains benefits through later service fees. Gao Cluster believes that the franchise service fee is more similar to a one-time deal, which will increase the cost of opening a small and medium-sized store and is not conducive to the joint growth of the platform and the store. In addition, Cluster Chebao hopes to lower the entry threshold by waiving franchise fees and reduce the initial investment pressure on store owners. Gao Cluster told 36Kr that Cluster Auto Insurance has reached an agreement with the Bank of China for a total credit of RMB 100 million for franchise stores, and each store has a loan limit of RMB 300,000.

    Cluster Chebao's aftermarket service model was first promoted in Guangzhou and Foshan. It plans to establish 20 stores in large districts and about 10 stores in small districts and counties. Currently, there are 49 franchised joint stores. Cluster Chebao has applied for the school license of the "Guangzhou Cluster Car Insurance Auto Training Institute" in 2019, and plans to deploy a school on the automotive service industry chain in 2020.

    Cluster Chebao’s franchise stores obtain customers through the following three methods:

    1. Regional traffic. The regional attributes of offline stores in aftermarket services are relatively strong, and Gao Cluster believes that on-demand traffic will still be the first source of traffic for stores.

    2. Import traffic from B-side partners. Cluster Chebao cooperates with insurance companies (People's Insurance Company of China, Ping An, China Life, etc.), automobile service companies (Sinopec), and financial institutions (China Construction Bank, ICBC, Postal Savings Bank, etc.) to achieve the purpose of traffic exchange. Cluster Chebao will serve as a landing point for road rescue, repair and maintenance, financial derivative services for insurance companies, and value-added services for oil companies. It will also reverse traffic exchanges for partner companies to provide insurance services, financial value-added services, etc.

    3. Platform traffic diversion for clustered auto insurance self-operated stores. 36Kr learned that compared with the general repurchase rate of about 20% on industry platforms, the repurchase rate of Cluster Chebao’s current self-operated stores has reached 45%, with 1.12 million registered members on the platform, of which 420,000 are members who spend 1,000 yuan per year.

    The automotive aftermarket has the characteristics of focusing on services, many processes, long chains, and strong regional characteristics. Chinese consumers attach great importance to brands, and the automotive aftermarket will further see a cluster of leaders in the future. The existing market is largely occupied by 4S stores due to consumers' maintenance period and brand dependence. However, in fact, the existing vehicle sales, inventory, turnover, capital, maintenance and other businesses of 4S stores are already separated, and the bundled sales model is also well known to consumers. In addition, 4S stores cannot perform cross-brand maintenance due to brand attributes, which actually wastes a lot of production resources and customer flow. my country's automobile market has gradually seen the separation of sales and after-sales.

    In the auto parts field in the United States, there are already several unicorn companies with a market value of over 10 billion, such as Auto Zone, and in the maintenance services field, there are also leading manufacturers such as Valvoline. Internet unicorns such as Alibaba and Tencent have plans in the automotive aftermarket, but they are currently in a bottleneck period with poor customer stickiness. This also reflects that what the aftermarket lacks is not traffic, but how to retain users. The core contradiction in the industry still focuses on supply chain and service efficiency issues.

    In China's automobile maintenance market, the independent aftermarket system accounts for as much as 75%. However, the independent aftermarket often uses auto parts that are not authorized by the original OEM for maintenance. Quality issues have also been criticized in the past few years. In recent years, the regulatory standards related to auto parts have been continuously tightened. Most auto parts are processed by several OEMs. Therefore, the gap between original parts and non-original parts is reflected in the price, and the brand premium is very high. The emergence of clustered auto parts platforms will bring more unified standards and pricing systems to auto parts manufacturers that are not authorized by the OEM. Platform operators will have higher bargaining power, which is something that scattered independent aftermarket service stores do not have. However, through platform layout, they can enjoy this level of benefits.

    According to 36Kr, Cluster Chebao completed an angel round financing of 10 million yuan in March 2014; in January 2016, Cluster Chebao received a 100 million yuan Series A financing led by Shangxin Capital, with personal participation from Zhu Jia, managing director of Bain Capital; in June 2017, it received a 50 million yuan A+ round of financing from Pansheng Capital. In 2018, Baidu and Tencent invested in Tuhu car maintenance, which has demonstrated the enthusiasm of capital for this track. However, pure Internet companies do not have the ability to compete independently. Tuhu entered the market with tire products in the early days of car maintenance. It gradually expanded based on the online transaction + offline installation model and already has a very strong traffic pool. However, Cluster Chebao, through self-operated stores, replicates the model from the perspective of its own car owner traffic, warehousing and logistics, finance, auto parts supply chain and services, and seems to have broader experience in auto parts maintenance categories and implementation experience.

    On the relevant track, there are also simple cars with car sales in the sinking market as the core selling point, as well as the chain brand Shenqi Online. At the beginning of its establishment, Cluster Chebao did not directly expand its platform similar to existing Internet car after-sales service providers. Instead, after several years of development of self-operated stores, it built its own supply chain system and management system, breaking away from the services of third-party auto parts centers. As more and more cars leave the 4S store maintenance period, the independent after-car service market is about to enter the stage of platform integration. The self-operated accumulation of Cluster Chebao will be the moat between it and the pure Internet platform.

  • Camel Milk Powder Has Become A New Favorite Among Middle-aged And Elderly People. Chaos Occurs Frequently On E-commerce Platforms. The Industry Is In Urgent Need Of Supervision.

    With the improvement of living standards and the enhancement of health awareness, consumers' requirements for the quality of milk powder are no longer limited to deliciousness and nutrition, but have also risen to the ultimate pursuit of targeted nutritional supplements for milk powder categories. Camel milk and its products are favored for being rich in nutrients such as high vitamin C, iron content and insulin-like factors. Camel milk powder using raw camel milk as the main raw material is known as the "gold in milk" and has become the new favorite of many middle-aged and elderly consumers. On February 8, 2026, the one-year buffer period of the "National Food Safety Standard Milk Powder and Modulated Milk Powder" (GB 19644-2024), known as the new national standard for milk powder, ended. In order to further understand the current situation of the camel milk market, a reporter from Beijing Business Daily conducted an early investigation of camel milk powder on the e-commerce platform and found that chaos still occurs frequently in the market despite the surge in demand, and the industry urgently needs to strengthen supervision.

    The "fourth" number in the ingredient list

    Original imported, drinkable desert "gold" exclusively for the Sheikh of Dubai...

    On the eve of "March 15", a reporter from Beijing Business Daily searched for "camel milk powder" on an e-commerce platform. The various slogans were dazzling. The investigation found that an e-commerce platform was flooded with a large number of "wrong" camel milk powder, ranging from tens to hundreds of yuan.

    In a store called "Tuobao Food Flagship Store", the best-selling "Selenium-rich Probiotic Camel Milk Nutritional Powder" is priced at 88 yuan/can for a 1kg can, and as low as 59 yuan/can for a 3-can pack. At present, the product has sold over 10,000 yuan online, ranking fourth on the best-selling list of camel milk powder. Also at the top of the list is another product in its store, "Calcium Probiotic Camel Milk Nutritional Powder", which has sold more than 30,000 orders.

    On the packaging of the "Tuobao" product, there is a pattern of a Bactrian camel printed on it. At first glance, it looks like "Camel Milk Powder", but if you look closely at the small words next to it, you can see that the product category is "Sports Nutritional Food (Energy Supplement)". In the comment area, many consumers bought it as camel milk powder.

    "Camel milk nutritional powder", what is the content of camel milk powder? A reporter from Beijing Business Daily learned that the first three ingredients in this product are whey powder, milk-containing base powder, and isomalto-oligosaccharide, and the fourth is full-fat camel milk powder.

    According to the "National Food Safety Standard Milk Powder and Modulated Milk Powder" (GB 19644-2024), which was officially implemented on February 8, 2025, "raw cow (goat) milk" in the definition of raw materials was expanded to "raw milk". Milk powder produced by specialty dairy animals such as yak milk, camel milk, donkey milk, and horse milk is also included in the national standard system. It stipulates that the prepared milk powder must use a single variety of raw milk or dairy products as the main raw material, and other added raw materials must not contain other types of dairy products, and the milk solids content from the main raw materials should not be less than 70%. It is questionable whether the proportion of whole-fat camel milk powder in the ingredient list of the above-mentioned "Tuobao" product reaches the standard.

    _The all-purpose camel milk powder in the live broadcast room, the "gold in milk" that is not on the market

    The store selling "Tuobao" calls itself the "Xinjiang Genuine Official Flagship Store." A Beijing Business Daily reporter opened the store's industrial and commercial qualifications and showed that its operator is "Guangzhou Debolai Biotechnology Co., Ltd." Tianyancha shows that the company was established in 2017 and is an enterprise mainly engaged in technology promotion and application services. In fact, a "Xinjiang Desert Tuobao Brand Management Co., Ltd." registered by the controller was canceled in 2025 after the company showed "abnormal operations."

    A reporter from Beijing Business Daily also found that the phenomenon of "camel treasure" is not an isolated case and is more common in imported camel milk powder. For example, in the DNG overseas flagship store, a 430g can of "DHA probiotic selenium-enriched full-fat camel milk powder" claimed to be imported from the United States costs 131.94 yuan.

    A Beijing Business Daily reporter asked the store’s customer service staff and learned that the main ingredient of the product is full-fat camel milk powder, accounting for 38%, followed by desalted whey powder and concentrated whey protein powder, accounting for 15% and 13% respectively. The above three main ingredients account for 66%. DNG customer service staff said, “Desalted whey powder and concentrated whey protein powder are extracted from milk.” According to the "National Food Safety Standard Milk Powder and Modulated Milk Powder" (GB 19644-2024), camel milk powder must use raw camel milk as a "single milk source" as the main raw material, and other added raw materials must not include other types of dairy products. However, the desalted whey powder and concentrated whey protein powder in the ingredient list of the above products come from cow milk, which is inconsistent with the national standard definition of "single milk source".

    315 protects consumption_ The all-purpose camel milk powder in the live broadcast room, the "gold in milk" is on the market

    According to the official website of DNG (Deanjian), it was founded in Hong Kong, China and is committed to developing into a large-scale modern health brand integrating innovation and scientific research. DNG is a well-known brand in dietary nutritional supplements in the Asia-Pacific region. It has a series of products such as NMN, hirudin, ginsenoside, artemisinin, and human immunoglobulin. In other words, camel milk powder may not be DNG’s strongest area.

    315 protects consumption_ The all-purpose camel milk powder in the live broadcast room, the "gold in milk" is on the market

    Regarding the above issues, a reporter from Beijing Business Daily sent an interview letter to DNG via email, but had not received a reply as of press time.

    The universal "niche milk" in the live broadcast room

    In recent years, "niche milk" represented by camel milk has become a hot item, with various slogans on various social platforms, e-commerce platforms, and live broadcast platforms, and many consumers have been deceived.

    In March 2025, consumers complained about the camel milk of "Gu Zhanggui" on the Black Cat Complaint Platform. "Food is sold as health care products, and health care products are sold as medicines. The efficacy of the products is exaggerated, the ingredients of the products are unknown, and the prices are inflated, misleading consumers."

    A reporter from Beijing Business Daily opened Gu Zhanggui's live broadcast room and found that it was suspected of having obvious propaganda effects. It used abbreviations such as "sugar", "pressure" and "fat", and words such as "free of effort" and "insomnia", implying that it is suitable for people with "three highs" and "low immunity". Some products sold in the live broadcast room exceeded 100,000 pieces.

    315 protects consumption_ The all-purpose camel milk powder in the live broadcast room, the "gold in milk" is on the market

    Shopkeeper Gu claimed that “camel milk products have ranked first in sales for three consecutive years,” but a reporter from Beijing Business Daily opened the store’s industrial and commercial qualifications and showed that its company name is “Zhengzhou Tutuge Food Co., Ltd.” Tianyancha shows that the company was established in 2026.

    Public information shows that camel milk powder is a dairy product made from camel milk. It is rich in high-quality protein, calcium, iron and a variety of active ingredients, which helps enhance immunity. It also contains unique lactoferrin and lysozyme. Its nutritional value is higher than ordinary milk powder, and it is known as the "gold in milk."

    Regarding the claim that camel milk powder can cure the "three highs", Zhong Kai, director of the Kexin Food and Health Information Exchange Center, believes that camel milk powder only has high content of some ingredients, is easy to absorb, and has no special nutrients.

    A senior nutrition industry expert also told a Beijing Business Daily reporter, "The ingredients of camel milk powder will have a lower lactose content, which is more suitable for people who are lactose intolerant and need to control sugar. In addition, its fats are mostly unsaturated fatty acids, which are relatively healthy. But it is just that these nutrients are more suitable for (the above-mentioned people), not that it can be treated."

    Some research reports also warn about the consumption of camel milk powder. High protein intake may increase the burden on the kidneys and cause gastrointestinal discomfort such as bloating and diarrhea. In addition, people allergic to camel milk should not consume it.

    Low price that cannot withstand scrutiny

    As the country strengthens supervision of milk powder and prepared milk powder, the implementation of old national standards such as "GB 19640", the camel milk content in ingredients is less than 70%, or the inclusion of whey protein powder/oat powder as the main ingredient has become a typical camel milk powder marketing chaos. Under the clear requirements of the new national standard, some businesses still choose to take risks.

    "Due to the low yield of camel milk, it is almost an open secret in the industry to mix camel milk ingredients with cow milk ingredients, or add whey powder, milk-containing base powder, etc. to pass it off as pure camel milk powder." A Yuan (pseudonym), an industry insider with eight years of experience, hit the nail on the head. There are two types of camel milk powder, one is pure camel milk powder or raw camel milk powder, which means that the ingredient list is 100% organic raw camel milk without adding any other substances, so you can basically buy it with confidence; the other is formula camel milk powder, also called modulated camel milk powder, which is the easiest to confuse.

    Song Liang, a senior dairy industry analyst, told a Beijing Business Daily reporter, "In recent years, the camel milk market has been very chaotic and full of fake and shoddy products. Unscrupulous traders use various methods to sell inferior camel milk powder."

    In 2022, the Food and Agriculture Organization of the United Nations counted that there were about 20 million camels in the world, producing only 5.4 million tons of milk every year, most of which was consumed by young camels. In China, camels are mainly free-range or semi-free-range. The breeding cycle is long, and the market demand is far greater than the number that breeding ranches can supply. The annual and quarterly product sales, amounts and growth rates promoted by some dairy companies are seriously inconsistent with the scale and output of breeding.

    Taking domestic adult milk powder as an example, the price of 800g is 70-80 yuan/can, while the price of imported adult milk powder is 100-160 yuan/can. In contrast, Original Gold, which is known as "the number one in camel milk sales in the country", sells a 330g prepared camel milk powder for as high as 338 yuan per can. Camel milk powder costing tens of yuan often comes with consumption traps.

    Song Liang did some calculations for a Beijing Business Daily reporter: The cost of camel milk powder includes raw material fees, processing fees, packaging fees, transportation fees, etc. Under normal circumstances, 8kg of fresh camel milk can produce 1kg of camel milk powder. Based on the average price of 1kg of fresh camel milk in 2024 (summer production is high and the price is low, winter production is low and the price is high), the cost of 1kg of camel milk powder is about 304 yuan. The processing fee for camel milk powder is about 6,000-8,000 yuan/ton. Including packaging, transportation and other costs, the cost of a 330g can of camel milk powder is 150-200 yuan.

    Another milk powder practitioner also calculated that a 330g can of prepared camel milk powder may cost tens of yuan based on 30% full-fat camel milk powder.

    Tu Panyue, a lawyer at Shanghai Guangming (Hefei) Law Firm, said that camel milk powder is essentially an ordinary nutritional dairy product. Its nutritional content can only provide dietary supplements for specific groups of people. It has no role in disease prevention, improvement, or treatment, and cannot be equated to health products or medicines. There is currently no authoritative medical data proving that its nutritional value is significantly different from that of cow or goat milk. Therefore, we should be cautious as to whether it contains ingredients suitable for special groups such as the third-highest level.

    Tu Panyue said that according to relevant laws and regulations such as the Advertising Law of the People's Republic of China, the Regulations for the Implementation of the Food Safety Law of the People's Republic of China, ordinary foods (including prepared camel milk powder) that have not obtained the "Blue Hat" certification of health food must not claim or imply that they have health care functions, let alone disease prevention and treatment effects, nor may they express or imply that the product has disease-improving effects through expressions such as "suitable for people with three highs", "improving osteoporosis", "regulating the spleen and stomach", etc. This is an obvious act of advertising and false propaganda. At the same time, some products confuse the concepts of "modulated camel milk powder" and "pure camel milk powder", exaggerate the ingredient content, fabricate nutritional benefits, and even pass other milk powder as camel milk powder and falsely label the content. This is not only suspected of false propaganda, but also involves product quality fraud, seriously infringing on the legitimate rights and interests of consumers.

    Tu Panyue believes that whether it is traditional cow milk powder or camel milk powder, the core value is to supplement daily nutrition, rather than to be a "magic medicine". The root cause of some market chaos is that some businesses take advantage of consumers' health anxiety to carry out illegal propaganda, which must be strictly supervised. For ordinary consumers, they need to look for the new national standards when purchasing and make rational purchases.

    "Before the country issued relevant standards, the chaos in the industry was even more serious. Now, although there are standards, the intensity of supervision is still limited, resulting in frequent chaos. With the continued attention and supervision of all parties, it may accelerate the development of the entire industry towards standardization, specialization, and branding." said Zhu Danpeng, an analyst in China's food industry.

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