The news of Mengniu veteran Bai Ying's appointment has finally settled.
On April 23, according to the official account of Huishan Dairy, Bai Ying attended the launching ceremony of Yuexiu Huishan's 2024 spring ploughing as vice chairman and general manager of Yuexiu Dairy.
Bai Ying, who made her debut, also mentioned at the ceremony that spring ploughing is a prerequisite for winning the "three-year performance battle" in Yuexiu Huishan.
It is reported that in February 2023, Zhang Zhaoxing, chairman of Yuexiu Group, proposed that Yuexiu Huishan aims to achieve sales revenue of more than 10 billion yuan and profit of 3 billion yuan in 2025.
Zhu Danpeng, an analyst of China's food industry, believes that if you want to achieve 10 billion yuan in revenue in a short period of time, the milk powder business is the key, but in recent years, the birth rate is sluggish, and the high-intensity competition of dairy companies is superimposed, and Yuexiu Huishan's goal of 10 billion yuan is basically impossible to achieve.
Bai Ying serves as the general manager of Yuexiu Dairy
He was the senior vice president of Mengniu
Sohu Finance learned from relevant people in Huishan Dairy that the personnel adjustment is true and no longer makes an official announcement.
Who is Bai Ying, and why has his tenure attracted so much attention from the dairy industry?
According to the data, Bai Ying was born in 1970, has a master's degree from Inner Mongolia Agricultural University, a doctorate from China Agricultural University, and holds a master's degree in business administration from China Europe International Business School.
In 1999, Bai Ying founded Mengniu with Niu Gensheng, and successively served as Vice President of Inner Mongolia Mengniu, General Manager of Inner Mongolia Mengniu Normal Temperature Liquid Milk Department, Executive Director of China Mengniu Dairy Co., Ltd., and Senior Vice President of Inner Mongolia Mengniu. During her tenure, Bai Ying led the Mengniu team to launch well-known products such as Tetra Pak Pure Milk, Trensu, and Future Star.
On August 31, 2017, Mengniu announced that Bai Ying had resigned as the company's executive director due to health reasons, and gave her an evaluation of "great contributions".
In her 18-year career, Bai Ying has participated in and witnessed Mengniu grow into a dairy giant with revenue of more than 50 billion yuan, and has experienced four presidents: Niu Gensheng, Yang Wenjun, Sun Yiping and Lu Minfang.
After leaving Mengniu Group, Bai Ying served as the CEO of Kingenta, a leading compound fertilizer company, and also invested in business service companies such as Panjun (Shanghai) Enterprise Management Consulting Co., Ltd.
Tianyancha shows that Bai Ying is currently directly investing in two enterprises with normal operating conditions, Beijing Muranshi Enterprise Management Center (Limited Partnership) and Inner Mongolia Mengniu Dairy (Group) Co., Ltd. (hereinafter referred to as Mengniu Group).
As a natural person shareholder of Mengniu Group, Bai Ying holds 0.03% of the company's equity.
Zhu Danpeng, an analyst of China's food industry, told Sohu Finance that Bai Ying has a certain influence in the dairy industry, and his joining is good news for Yuexiu Dairy. However, on the whole, the dairy market has undergone fundamental changes, and whether Bai Ying can adapt to today's market remains to be further observed.
Jiang Han, a senior researcher at Pangu Think Tank, believes that Bai Ying has accumulated rich experience in dairy management and market operation during her work in Mengniu, especially in product development, brand promotion and market expansion. His addition may bring some new business ideas and strategic directions to support Yuexiu Dairy's future development.
Focus on the layout of Yuexiu Huishan, with a target revenue of 10 billion yuan in 2025
According to reports, Yuexiu Dairy, where Bai Ying was appointed, is a member of Yuexiu Group and belongs to the group's food sector.
As one of the three major production-oriented businesses in the industrial structure of Yuexiu Food Group, Yuexiu Dairy has achieved a national layout of "one body and two wings" of "North Huishan, Middle Great Wall, and South Fengxing", radiating three major market sectors such as the Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei and Northeast China.
Tianyancha shows that at present, Yuexiu Dairy directly invests in Yuexiu Huishan and Fengxing Dairy, and indirectly controls Great Wall Dairy through Fengxing Dairy.
In the commercial sector of Yuexiu Dairy, Yuexiu Huishan is undoubtedly regarded as a vital part, and Bai Ying was rumored to have directly entered Yuexiu Huishan.
It is reported that Yuexiu Huishan, formerly known as Huishan Dairy, was the largest liquid milk enterprise in Northeast China, with output second only to Guangming, Sanyuan and Yili. In September 2013, Huishan Dairy successfully landed on the Hong Kong Stock Exchange and once ranked among the top three overseas listed companies in China's dairy industry in terms of market capitalization. In December 2019, due to the rupture of the capital chain and the debt crisis, Huishan Dairy, which had been suspended for nearly three years, was forcibly delisted.
In November 2020, Yuexiu Group reorganized Huishan Dairy, and established a new company, Yuexiu Huishan, in June 2021, and 83 companies of Huishan Dairy officially became subsidiaries of Yuexiu Group.
In 2022, Yuexiu Group made a substantial investment in Yuexiu Huishan, investing more than 1 billion yuan in the environmental protection upgrading of pastures, and nearly 100 million yuan in the digital construction of the whole industrial chain.
With a large investment, Yuexiu Huishan bears the heavy responsibility of Yuexiu Group to expand its revenue scale.
According to a number of media reports such as China Business News, at the Huishan milk powder brand strategy conference held in February 2023, Zhang Zhaoxing, chairman of Yuexiu Group, proposed that Yuexiu Huishan aims to achieve sales revenue of more than 10 billion yuan and profit of 3 billion yuan in 2025.
Bai Ying, who made her debut, also mentioned the performance target at the ceremony, saying that spring ploughing is a prerequisite for winning the "three-year performance battle" of Yuexiu Huishan.
Zhu Danpeng, an analyst of China's food industry, believes that if you want to achieve 10 billion yuan in revenue in a short period of time, the milk powder business is the key, but in recent years, the birth rate is sluggish, and the high-intensity competition of dairy companies is superimposed, and Yuexiu Huishan's goal of 10 billion yuan is basically impossible to achieve.
The milk powder target is 2 billion yuan, and experts say that Jersey milk powder lacks core competitiveness
It is reported that at present, Yuexiu Huishan has 400,000 acres of high-efficiency forage and feed planting bases, 600,000 tons of processing capacity of feed production bases, 78 modern self-operated pastures, 120,000 dairy cows and 4 modern dairy processing bases.
After being acquired and reorganized, Yuexiu Huishan not only set a revenue target of 10 billion yuan, but also focused on the layout of milk powder business.
In December 2021, Han Chunhui, then Secretary of the Party Committee and General Manager of Yuexiu Huishan, publicly shared Yuexiu Huishan's "14th Five-Year Plan" strategic plan. Among them, Yuexiu Huishan's milk powder business strives to achieve a revenue scale of more than 2 billion yuan in 2025.
According to the financial report released by Huishan Dairy before its delisting, the company's total revenue in fiscal year 2016 was 4.527 billion yuan, of which liquid milk sales were 3.09 billion yuan, and infant formula milk powder sales were 376 million yuan.
At the moment when the scale of the industry is shrinking, the target of 2 billion yuan in milk powder business revenue is not low, which is close to the volume of Beingmate in 2022.
Recently, a number of listed dairy companies have released their 2023 annual reports, and the performance of the milk powder sector is generally under pressure. Among them, China Feihe infant formula business, Ausnutria Dairy's goat milk powder and milk powder business, Mengniu Dairy's milk powder business, and H&H Group's infant nutrition and care products business revenue all declined to varying degrees.
H&H Group also pointed out in its latest financial report that in 2023, the scale of the infant formula milk powder industry in Chinese mainland will decline by 22.9%.
The target deadline set is gradually approaching, but Yuexiu Huishan has not released the report card in recent years, and the publicity caliber is mainly based on the growth rate of milk powder revenue.
According to the official account of Huishan Dairy, in 2022, the operating income of Yuexiu Huishan milk powder will increase by more than 210% year-on-year, and the revenue of the fist product "Huishan Marui" series will increase by more than 333%.
Sohu Finance found that the current Yuexiu Huishan milk powder business can be divided into three categories: adult milk powder, children's milk powder and infant milk powder. Among them, infant milk powder is the main product, which can be further subdivided into three series: Marui, Qichen and Xingen, and the star product Huishan Marui is the first Jersey milk powder brand in China.
In the search of Huishan milk powder Tmall flagship store, it was found that under the category of baby milk powder, the current highest-selling product in the store is Huishan Marui 3 section trial pack of 170g, the price is 46 yuan, and 3000+ have been sold.
Zhu Danpeng believes that the current brand power and channel power of Yuexiu Huishan cannot support the concept of Jersey milk powder product power, and there is no differentiated core competitiveness. Zhu Danpeng also mentioned that Bai Ying, the veteran of Mengniu, has concentrated his experience in the field of traditional white milk and low-temperature liquid milk, and milk powder is not Bai Ying's strong point.
An employee who has worked in Huishan Dairy for 10 years also said that Huishan Dairy's main business is still in Liaoning Province. After the company was acquired by Yuexiu Group, the main changes were reflected in the management system, from a private enterprise to a state-owned enterprise, and the treatment of employees was also improved.
Regarding the strategic planning for the first year of her tenure, Bai Ying emphasized that in 2024, the company will further implement lean management, implement the concept of full cost in all aspects of agricultural production, rely on the digital and intelligent model to realize the modern development of the agricultural planting sector, and further consolidate the construction of the whole industrial chain.
Produced by | Sohu Finance
Author | Rao Ting
Edit | Li Wenxian
Operations Editor | Xue Suwen
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