Youran Dairy is the world's largest raw milk supplier and was listed on the Hong Kong Stock Exchange on June 18, 2021 (stock code: 9858.HK). The company's business covers the entire upstream dairy industry chain from breeding, forage grass, feed to dairy farming, and has achieved a leading position in all business segments. Youran Dairy is also China's largest supplier of specialty raw milk, China's largest supplier of ruminant feed, China's largest supplier of alfalfa, and China's largest dairy cow breeding enterprise. It owns Jumuc.com, the largest trading center for the dairy farming industry chain in China. In 2023, Youran Dairy upgraded its corporate vision to "Leading China's dairy farming and becoming the most trusted world-class dairy farming technology group". It empowers each business of the entire industry chain through technology, expands high-tech and high value-added businesses of the industry chain, comprehensively enhances the technological value of Youran Dairy, helps Youran Dairy achieve high-quality development, and transform into a dairy farming technology group. In 2023, Youran Dairy achieved revenue of RMB 18.694 billion, increased by 3.6% yoy. In the first half of 2024, Youran Dairy achieved revenue of RMB 10.055 billion, increased by 10.8% yoy.

Youran Dairy is the world's largest raw milk supplier. It owns 96 large-scale dairy farms on the China's golden milk source belt. It has also established several dairy farms in the south-central provinces, which have a large population, excellent economy, high consumption potential, scarce land resources and a long-term shortage of raw milk, to raise 601,000 dairy cows. Through the continuous promotion of lean management and technological empowerment of the entire industry chain, the newly built 10,000-head dairy farm of Youran Dairy in Wuwei, Gansu Province set a record for the highest milk yield per milkable cow in China by exceeding 49 kilograms in the second year of operation. In the first half of 2024, the annualized average milk yield per milkable cow (excluding SKX) rose to 12.9 tons, and the cost of feed per kilogram declined by 12.9% yoy. Youran Dairy provides large-volume and a diverse range of specialty raw milk products in China. Currently, it has developed organic milk, Jersey milk, organic Jersey milk, DHA milk, A2 milk, organic A2 milk, selenium-enriched milk and goat milk. The types of specialty raw milk of Youran Dairy have increased to 8 categories.

Youran Dairy is the largest supplier of ruminant feed in China. It owns 15 forage grass production bases across the country and has nearly 40 years of experience in the research and development and production of ruminant feed. It has explored a business model of "product + service + platform" and carried out strategic cooperation with the world-renowned dairy expert Dr. Mike Hutjens. Combined with the most advanced dairy cow nutrition technology in the United States, it has created world-class feed products. It has strategically cooperated with the National Academy of Sciences (NASEM) "Nutrient Requirements of Dairy Cow" in the United States, introduced internationally leading dairy cow breeding technology, and developed and launched the new domestic feed product "Lvmuyoujia（绿牧优加）", which can reduce methane emissions by more than 20% and increase the daily milk yield of dairy cows by more than 2 kilograms. It has launched new products such as Yuanxing 50-30 and beef cattle anti-transport stress products. The feed business has obtained 3 new patents. It has received recognition in the form of the "Outstanding Contribution Award" in animal health and food safety. At the same time, it has established a leading domestic dairy cow nutrition system. Through a big data monitoring system, it collects information such as the environment of the cowshed and the output and parity of the cattle herd to calculate the nutritional needs of dairy cows. Through the independently developed near-infrared nutrition database of the main raw materials for dairy cow breeding in China, it evaluates the nutritional value and cost performance of raw materials, and uses the nutrition formula system and precise feeding equipment to provide precise nutrition for dairy cows. Currently, the feed business has ten major series of products covering the entire life cycle of dairy cows, beef cattle, mutton sheep and dairy goats.

The subsidiary of Youran Dairy, SKX, is the largest dairy cow breeding enterprise in China, boasting the first production capacity of sex-sorted frozen semen in Asia. It is also the earliest breeding enterprise in China to undertake large-scale production and commercial application of sex-sorted frozen bovine semen of high-yield dairy cows, and possesses internationally leading livestock sex-sorted technology and dairy cow genetic improvement technology. There are 2 breeding bull stations in Wisconsin, USA and Helingeer, China; and 5 core breeding bases for dairy cows, beef cattle and dairy goats in Hohhot. In the first half of 2024, the sales volume of sex-sorted frozen bovine semen in the breeding business rose by 132.4% yoy. In 2024, a bull successfully bred by SKX which ranked the 35th place according to the U.S. Genome Ranking in the same period and ranked the 1st in China was officially put into production, and a bull bred at the U.S. joint venture station which ranked the 54th in the global list of bulls in terms of TPI value (comprehensive breeding value) was also bred. According to the latest results released by the National Association of Animal Breeders (NAAB) in April 2024, the Holstein breeding bull bred by SKX took the top 8 registered bulls in China, with 14 heads among the top 20 registered bulls and 57 heads among the top 100 registered bulls. Besides, the TPI of the top-ranked breeding bull exceeded 3160 for the first time in China, which is a new record for registered bulls in China. The cumulative production Of SKX has exceeded 50,000 high-yielding cow sex-sorted bovine embryos with an potential annualized average milk yield for more than 14 tons, which has effectively supported the leapfrog upgrade for the herd structure.

Youran Dairy is the largest alfalfa supplier in China, with China's grass capital, Aluqorqin Banner, as the core to build high-quality alfalfa planting bases, the layout of the country's 15 forage grass plantation bases, with an area of 240,000 mu. of forage grass plantation. Through the selection and breeding of grass varieties and industrial development, Youran Dairy has broken through the key technologies of forage grass selection and breeding, providing solutions to bottleneck problems such as the reliance on imports of high-quality alfalfa seeds for development. In the first half of 2024, the proportion of alfalfa grass of grade A and higher produced by Youran Dairy's forage grass plantation base accounted for nearly 60%, and the proportion of alfalfa silage with a protein index of 22% reached more than 85%, reaching the top level of alfalfa grass in the United States.

Jumuc.com is the largest dairy farming chain trading center in China. Through the online platform “Jumuc.com”, and 33 offline ruminant farming products marketplace network throughout the country, Jumuc.com provides more than 10,000 kinds of ruminant farming products for customers, serves more than 2 million domestic dairy cows, and provides one-stop services and systematic solutions for clients who breed dairy cows, beef cows, muton sheep and dairy goats, such as “livestock species procurement, precise nutrition, good breeding, health care and epidemic prevention, operation management, policy interpretation, financial support, product sales”, etc. Youran Dairy also develops the “county-level animal husbandry service centers” ecological new model in large dairy cow and sheep breeding counties across the country, and facilitated the connection of nodes in the chain, providing home delivery services and solving the problem of the “last mile” in animal husbandry services. In the first half of 2024, the revenue of ruminant farming products marketplace business increased by 24.6% yoy.