The CFO and deputy general manager of Chinese infant formula firm Beingmate Baby and Child Food, Shen Lijun, has resigned, the company has announced.

Beingmate’s board said in a statement the resignation, effective 31 May, was for “personal reasons” but gave no details.

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However, the statement said the move “will not affect the company’s normal production”. 

Beingmate will start procedures for the appointment of a new CFO “as soon as possible”, the statement said.

Last February, Beingmate reported a loss of CNY798m (US$117m) for 2016, a year that saw the company’s profit hit by a counterfeiting racket and ongoing upheaval in the Chinese formula sector. 

In May, first-quarter net profit reported by Beingmate were down 81.8% at CNY10.9m (US$1.6m).

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Also last month, Beingmate said it had set up an Australian unit, Guangdasheng (Australia), through which to carry out its acquisition of a stake in a local plant owned by Fonterra. According to a regulatory filing, Beingmate is using Guangdasheng to acquire 51% of a Fonterra plant in Darnum in the Australian state of Victoria.

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