Feihe International

Feihe International stands as a major producer of infant formula and dairy products within the People's Republic of China, with origins tracing back to the state-owned Hongguang Dairy Plant founded in 1962. The modern iteration of the company was shaped by Leng Youbin, the current Chairman and CEO, who took charge of the indebted state-owned factory in 2001. Leng's journey began with a decade of work at a state-owned dairy farm after a childhood spent herding cows; this deep-rooted experience in the dairy industry informed his leadership. He holds a degree from Northeast Agricultural University and an EMBA from Peking University.

The company's business is centered on the production and distribution of premium infant milk formula, operating under the core value proposition of being “more suitable for Chinese babies.” This strategy involves extensive research into Chinese women's breast milk to create formulations that closely mimic its composition. Its primary clients are households with infants, reached through an extensive distribution network that includes over 2,800 offline customers and more than 77,000 retail points of sale, such as maternity stores, supermarkets, and hypermarkets. Feihe also leverages major e-commerce platforms like Tmall and JD.com for direct-to-consumer sales. Revenue is generated through the sale of its dairy products, with a significant focus on the super-premium infant formula segment.

Feihe’s product portfolio is led by its flagship infant formula lines, including the super-premium Astrobaby series, which was introduced in 2010. Beyond infant formula, the company also produces other dairy items like milk powder and has expanded its offerings to include products like soybean powder, rice cereal, and walnut products. The company has vertically integrated its operations, owning multiple farms with tens of thousands of cows and goats to ensure the quality of its raw milk. This control over the supply chain is a key operational feature. Significant milestones include a listing on the NYSE under the name American Dairy, which was later taken private in 2013. The company subsequently re-listed on the Hong Kong Stock Exchange in 2019, an event that marked it as the largest dairy company by initial market capitalization in the exchange's history. Feihe has also expanded its global footprint, notably by building a production facility in Kingston, Canada.

Keywords: infant formula, dairy producer, Chinese market, milk powder, Leng Youbin, premium nutrition, breast milk research, Astrobaby, supply chain integration, e-commerce distribution, maternity stores, dairy farming, HKEX listed, food safety, nutritional products, consumer goods, China dairy industry, premium brands, baby food, corporate history