Core Viewpoint - China Feihe's 2024 annual performance report indicates a revenue of 20.75 billion yuan, a 6% year-on-year increase, and a net profit of 3.65 billion yuan, an 11% increase, driven by a structural recovery in the milk powder industry and increased consumer confidence in domestic products [1] Group 1: Financial Performance - In 2024, the revenue from infant formula products reached 19.06 billion yuan, growing by 6.6% compared to the previous year [1] - Other dairy products, including adult milk powder, liquid milk, and rice flour, generated revenue of 1.514 billion yuan, reflecting a 6.3% increase [1] - Revenue from nutritional supplements was 173 million yuan, marking a significant growth of 25.4% [1] Group 2: Market Position - According to Frost & Sullivan, Feihe has maintained the top sales position in the infant formula market in China for six consecutive years and globally for four years [1] Group 3: International Expansion - In 2024, Feihe accelerated its international expansion, with a strategic partnership established between its Canadian subsidiary and Munchkin, a U.S. baby products company [1] - The Canadian infant formula production facility officially commenced operations in September of the previous year [1] - Revenue from mainland China was 20.55 billion yuan, while revenue from the U.S. and Canada was 160 million yuan and 38.51 million yuan, respectively, all showing varying degrees of growth [1] Group 4: Research and Innovation - Continuous R&D innovation is identified as a core driver of Feihe's steady growth, with collaborations with top research teams from institutions like Peking University and Harvard BCH [2] - In 2024, Feihe added 153 new domestic and international authorized patents, bringing the total to 659 [2] - The company received the TPM award, often referred to as the "Nobel Prize" in manufacturing [2] Group 5: Product Development - Feihe launched new products such as "Supernova Cheese" to meet personalized nutritional needs across the lifecycle [2] - The company introduced a new technology for extracting whey protein, marking the beginning of a new era in functional nutrition [2] - Feihe's chairman emphasized the commitment to ongoing innovation in areas such as breast milk research and brain development [2]
业绩快报｜中国飞鹤发布2024年财报，营收与利润实现双增长