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Miaokelanduo Founder Chai Xiu Resigns All Posts, 'Cheese Queen' Exits Completely
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On the evening of September 21, Miaokelanduo (妙可蓝多) announced that founder Chai Xiu (柴琇) has resigned from all her positions, including chairwoman, marking her complete exit from the company she built. Her departure had been foreshadowed: in January 2026, the board removed her as vice-chairwoman, general manager, and legal representative, retaining only a director seat. The trigger was her failure to fulfill a compensation commitment related to a co-investment fund, leading the company to file for arbitration with the Shanghai International Arbitration Center. The matter is expected to reduce Miaokelanduo's 2025 net profit by approximately 119 million to 127 million yuan. Under Chai's leadership, the company achieved rapid growth after its 2015 backdoor listing, with revenue compound annual growth rate exceeding 50% from 2018 to 2021 and a market value once surpassing 30 billion yuan. Since Mengniu's entry in 2020, the dairy giant has increased its control, now holding 37.77% of shares. In January 2026, Kuai Yulong (蒯玉龙), a Mengniu veteran, succeeded Chai as general manager and legal representative. Despite the leadership turmoil, Miaokelanduo's fundamentals remain solid: first-half 2026 revenue rose 28.71% year-on-year to 3.304 billion yuan, with net profit up 13.74% to 151 million yuan, driven by its 'TOB TOC dual-wheel' strategy.
Source report
On the evening of September 21, Milkground (妙可蓝多) announced a significant leadership transition.
In fact, signs of Chai Xiu's departure had emerged earlier. In January 2026, the company's board of directors approved a resolution to remove Chai Xiu from her positions as Vice Chairman, General Manager, and Legal Representative, retaining only her board seat. The direct trigger for her dismissal was her failure to fulfill a compensation commitment related to an equity participation in a merger and acquisition fund. The listed company has since filed an arbitration application with the Shanghai International Arbitration Center. According to company disclosures, this matter is expected to reduce Milkground's net profit for fiscal year 2025 by approximately RMB 119 million to RMB 127 million.
During Chai Xiu's leadership, Milkground achieved notable success. After going public via a backdoor listing in 2015, the company quickly captured the market with its flagship children's cheese stick product. From 2018 to 2021, its revenue compound annual growth rate exceeded 50%, and its market capitalization once surpassed RMB 30 billion. Following Mengniu's entry as a major shareholder in 2020, the Mengniu faction gradually strengthened its control over the company. As of now, Mengniu holds a 37.77% stake as the largest shareholder. Kuai Yulong, who succeeded Chai Xiu as General Manager and Legal Representative in January this year, has a strong background with Mengniu.
From a financial perspective, Milkground's fundamentals remain solid. In the first half of 2026, the company reported total operating revenue of RMB 3.304 billion, a year-on-year increase of 28.71%; net profit attributable to shareholders was RMB 151 million, up 13.74% year-on-year. The company attributed the growth to the deep implementation of its "TOB + TOC dual-engine" strategy, with both C-end and B-end businesses achieving year-on-year growth of over 20%.
(Source: Guangzhou Daily)
Source
东方财富网-公司资讯Eastern