Leng Youbin

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Name:  Leng Youbin

Country:  China

Date of birth:  December 1965

Education: Bachelors in arts/science and EMBA

Type of business:  Dairy business

Main Achievements: Leng’s company is one of the largest infant milk suppliers across China and is the reason for him being a billionaire. He ranked 268 globally as a billionaire on the Forbes list in 2020. He is also on the list of 400 richest Chinese of Forbes list as well. His company has won the gold medal at the world food quality evaluation four times in a row for its infant milk formula. He was also awarded “top ten technology figures of the dairy industry of China”. He was Person of the Year 2018 of Chinese Economy as well. He is also given the credit of working on the research for creating a specially formulated milk that caters exclusively to Chinese infants.

Something interesting about the person: Leng himself has an estimated net worth of almost $7.6 Billion and is actually a dairy engineer.

Biography:

Born in 1965, of Han nationality, Leng youbin graduated from the Northeast Agricultural University in the year 1995 after which he set for an EMBA degree from Peking University’s School of Economics. In 1999 he became a certified dairy engineer by the Personnel Bureau of Heilongjiang.

Leng initially began his career in the year 1987 when he began to work in Zhaoguang Dairy till 1993. In 1996 he then moved on to work in Feihe HLJ as a general manage and director. In 2006 he became the executive director at Feihe Gannan. In the year 2013, he became chief executive of the company and a member of the board of directors. He now is also the chairman of the board of Feihe and has to his credit many innovations in the company’s milk formulas.

Leng, during his time and services to the company, helped the company reach a revenue of almost 60%, which caused it to gain massive shares and accreditations in the market. He had worked to remove a total debt of $14 million off of the company from the year 2001 and also worked on creating one of the best formula milk that bridged the gap between nutrition and authentic dairy milk substances.

His powder milk “Astro baby milk” is credited to be one of his greatest achievements in which he worked to replicate the same structure and nutrients in the milk a Chinese mother would have in hers. This was so as to ensure maximum and efficient growth in Chinese babies. He now has an exclusive partnership with almost six different farms that help in producing almost 300,000 metric tons of milk annually. He currently is in charge of managing the company’s business strategies, investment plans, and regulating instructions across the company.

Besides that, he privatized the company in 2013 and relisted the company name in the Hong Kong stock market list in 2019 after fighting off major rumours that were spread about his company and its way of operating. After enlisting the company in the stock market, his luck really opened up, and he was mentioned in Forbes.

 Leng has also won numerous local achievements that are in his accreditation. He won the National Labour Model and Outstanding Entrepreneur award in 2015. In 2018 he was one the “Few Hundred Outstanding Private Entrepreneur during Forty years since the Reforming and Opening up”. Due to his major achievements and excellent performance he is also the Vice-Chairman of the All-China Federation of Industry and Commerce. He is also serving as the vice president of Federation of Industry and Commerce of the Heilongjiang province.

Starting as a mere dairy engineer, Leng worked his way to the top through his constant dedication and innovation, which enabled him to come to the top.

Links:

http://www.feihe.com/EnInvestor/Directors

https://www.forbes.com/profile/leng-youbin/#612b7540401d
https://www.marketscreener.com/business-leaders/You-Bin-Leng-06RQ36-E/biography/
https://global.chinadaily.com.cn/a/201811/27/WS5bfca450a310eff30328b32c.html