HONG KONG: Vitasoy’s stock dropped to an all-time low on Monday (July 5) after a worker circulated a message giving sympathy to the family of a colleague who stabbed a Hong Kong police officer, prompting online demands for a boycott of the firm in China. Vitasoy stated in a statement posted on the Chinese social media platform Weibo on Saturday that a staff member had published a “very improper” message without permission, and that the firm maintained the right to take legal action.
Vitasoy’s stock was down 14.6% to HKUS$25.1, the lowest level since April 2020. It was the greatest one-day loss since the company went public in 1994. The Hong Kong market as a whole was flat. The message expressed condolences to the family of a 50-year-old Vitasoy employee who attacked a police officer, 28, and then killed himself on the anniversary of the former British colony’s return to Chinese administration on Thursday. READ: Vitasoy, a Hong Kong beverages firm, is facing boycott calls from Chinese netizens.
The stabbing was classified as a lone wolf terrorist incident by police and security officials, who said a computer confiscated from his house revealed he had been “radicalized.” The police did not disclose any additional information concerning his alleged radicalization. The officer’s health has improved from critical to serious. The Vitasoy employee’s message sparked a barrage of online calls for a boycott of the company, which derives two-thirds of its income from China. According to Global Times, a tabloid published by the ruling Chinese Communist Party’s official People’s Daily newspaper, Chinese actor Gong Jun, who previously sponsored a Vitasoy lemon-flavored drink, said late Friday that he was ceasing commercial cooperation with the company.
READ: Hong Kong police issue a warning to citizens about mourning a guy who attacked a cop.
According to the publication, his declaration came after that of another Chinese actor, Ren Jialun, who claimed he was ending his collaboration with Vitasoy as well.
On Sunday, Hong Kong police cautioned that encouraging people to mourn the attacker was the same as “supporting terrorism,” and they chastised parents who carried their children to the memorial service./n
