Early Life
Leng Youbin, born in 1968, had humble beginnings, herding cows as a child. He worked at a state-owned dairy farm for about a decade, gaining valuable experience in the industry.
Rise to Success
Leng's entrepreneurial journey began when he acquired stakes in a dairy farm and a dairy plant. He started selling milk and infant formula under the Feihe brand. The company went public in Hong Kong in 2019. Leng's focus on providing high-quality products resonated with consumers, especially after a scandal involving tainted milk, leading to significant market share gains. Feihe's commitment to a vertically integrated supply chain, ensuring product safety, contributed to its success.
Key Business Strategies
Leng's leadership emphasizes the importance of product quality and consumer trust. Feihe heavily marketed its products as being "more suitable for Chinese babies," using fresh milk from its own dairy farms. The company's IPO on the Hong Kong Stock Exchange in 2019 further solidified his success. By 2024, Feihe had been the largest infant milk formula producer in China for six consecutive years.
Philanthropy
While specific philanthropy amounts are difficult to pinpoint, Leng's leadership demonstrates a commitment to corporate responsibility and contributing to the well-being of the people. His company has been recognized for its role in supporting the "Healthy China" initiative.