18 Aug 2017,
  • HSI:
    27,344.22 -64.85 (-0.24%)
    HSCI:
    10,801.42 -16.46 (-0.15%)
    HKSPLC25:
    35,107.87 -41.73 (-0.12%)
    HKSPGEM:
    266.36 0.19 (0.07%)
  • HSCEI:
    10,801.42 -16.46 (-0.15%)
    HSCCI:
    4,255.40 -9.85 (-0.23%)
    HSFML25:
    9,345.43 3.18 (0.03%)
    H-FIN:
    17,429.71 -24.97 (-0.14%)
  • Hang Seng Index
  • 27,344.22

  • -64.85 (-0.24%)
HSCI 10,801.4 -16.5
HKSPLC25 35,107.9 -41.7
HKSPGEM 266.4 0.2
HSCEI 10,801.4 -16.5
HSCCI 4,255.4 -9.9
HSFML25 9,345.4 3.2
H-FIN 17,429.7 -25.0
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China Mengniu Dairy Company Limited (02319.HK)

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China Mengniu Dairy Company Limited and its subsidiaries manufacture and distribute quality dairy products in China. It is one of the leading dairy product manufacturers in China, with MENGNIU as its core brand. Mengniu’s diversified products range includes liquid milk products (such as UHT milk, milk beverages and yogurt), ice cream, milk formula and other dairy products (such as cheese). By the end of June 2015, the Group’s annual production capacity reached 8.61 million tons. In March 2014, Mengniu became a Hang Seng Index constituent, making it the first blue chip Chinese dairy product manufacturer.
+ More Company Profile

Mr. Jeffrey, Minfang Lu - Executive Director

Mr. Lu Minfang, aged 48, was appointed as an executive director and the chief executive officer of the Company in September 2016. Mr. Lu is the chairman and a non-executive director of Yashili International Holdings Ltd (“Yashili”), a subsidiary of the Company listed in Hong Kong. He was the chief executive officer and executive director of Yashili before his appointment as chairman of the board of directors of Yashili. Mr. Lu was also a director of each of following subsidiaries of Yashili, namely Yashili International Ltd., Yashili International Group Limited, Newou Hong Kong International Co., Limited and Scient International Group Limited. Mr. Lu has been the Vice President (Greater China) of Danone Early Life Nutrition Greater China and had been with the Danone Group and Dumex Baby Food Co. Ltd. for over 10 years. During the tenure at the Danone Group, he demonstrated strong strategic business and market planning capabilities. With strong leadership, management skills and in-depth knowledge of markets, Mr. Lu contributed significantly to the success of the Danone Group’s baby nutrition business in China. Prior to joining the Danone Group, Mr. Lu spent 9 years with Johnson & Johnson (China) Company Limited and almost 4 years with General Electric Company (China). Mr. Lu has over 18 years of experience in sales and marketing and has been serving in general manager or executive level roles for over 7 years. Mr. Lu has extensive experience in the management of fast moving consumer products and dairy companies and has an excellent grasp and the in-depth knowledge of the PRC market. Mr. Lu obtained his Bachelor’s degree from Fudan University in Shanghai.
 

Mr. Bai Ying - Executive Director

Mr. Bai Ying, aged 46, was appointed as an executive director of the Company in July 2008 and is an executive vice president of Inner Mongolia Mengniu Dairy (Group) Company Limited (“Inner Mongolia Mengniu”). Mr. Bai was appointed as the chief operation officer of the Company on 6 June 2014. Mr. Bai graduated with a Doctor’s degree from China Agricultural University. He also holds a Master of Business Administration degree from China Europe International Business School. Mr. Bai was the vice president of Inner Mongolia Mengniu and the general manager of UHT milk division of Inner Mongolia Mengniu. He has been working in the dairy industry for over 20 years and has extensive management experience in the dairy business. In 2010, Mr. Bai was elected as “Progressive Staff of Hohhot” and “Inner Mongolia Autonomous Region Labour Model” for the second time. Mr. Bai was elected as a committee member in the third session of the Standing Committee (Enlarged) meeting of the Third Young Federation of the Central Enterprises held on 12 October 2013. Mr. Bai was a non- executive director of Yashili during the period from June 2014 to April 2015.

Ms. Wu Wenting - Executive Director

Ms. Wu Wenting, aged 53, was appointed as an executive director of the Company in September 2016. Ms. Wu was the executive deputy general manager and the chief financial officer of China Foods Limited, a company listed in Hong Kong, until September 2016. Ms. Wu joined COFCO Group in 1992 and was the director of the Audit and Discipline Department of COFCO Corporation from 2006 to March 2014. Ms. Wu also held various positions in COFCO Group, including the deputy general manager of the Finance Department of China Liang Feng Grains Import & Export Company from 1994 to 2000 and the general manager of the Finance Department of COFCO Oils & Grains Co., Ltd. from 2000 to 2006. Ms. Wu holds a Bachelor of Arts degree in economics from Beijing Technology and Business University and a Master of Arts degree in professional accounting from Central University of Finance and Economics and has extensive experience in financial management and auditing.

Mr. Ma Jianping - Chairman and Non-executive Director

Mr. Ma Jianping, aged 53, was appointed as a non-executive director and the chairman of the board of directors of the Company in February 2016. Mr. Ma joined COFCO Corporation and/or its subsidaries (“COFCO”) in 1986 and is currently a vice president of COFCO Corporation. Mr. Ma holds several directorships in certain subsidiaries of COFCO, including the deputy managing director of COFCO (Hong Kong) Limited. Mr. Ma is also the chairman of the board and a non-executive director of China Foods Limited and COFCO Meat Holdings Limited respectively, both companies listed in Hong Kong. Mr. Ma was a director of COFCO Property (Group) Co., Ltd., a company listed in Shenzhen, up to December 2016 and was a non-executive director of Joy City Property Limited, a company listed in Hong Kong, up to January 2017. Mr. Ma was also a non-executive director of the Company during the period from August 2009 to March 2014.

Mr. Ma graduated from University of International Business and Economics and later obtained a degree of Executive Master of Business Administration from the same university and he has extensive experience in strategic planning, corporate finance, investment and M&A, and corporate management.

Mr. Niu Gensheng - Non-Executive Director

Mr. Niu Gensheng, aged 59, is a non-executive director of the Company, one of the members in the team founding Yili Group, the founder of Inner Mongolia Mengniu and the founder of Laoniu Foundation. Mr. Niu graduated from Inner Mongolia University with a degree in Administration and Management and obtained a Master’s degree in Enterprise Management from the Chinese Academy of Social Sciences Graduate School. With his extensive experience and insights in China’s dairy industry, Mr. Niu enjoys a high reputation in the industry. In 2007, Mr. Niu was elected as one of “China’s Most Influential Business Leaders” for the fifth consecutive year, and was honoured the “2007 Hong Kong Bauhinia Award.” Mr. Niu is devoted to charity. He was on the list of “China’s Top 10 Philanthropists” published by the Ministry of Civil Affairs of the PRC in 2007 and ranked third in the “2007 Hurun Top 10 for Charity”, and received the first and only “Lifetime Achievement in Philanthropy Award” presented by the “China Philanthropists List” in 2010.

Mr. Tim Ørting Jørgensen - Non-Executive Director

Mr. Tim Ørting Jørgensen, aged 52, was appointed as a non- executive director of the Company in April 2016. He was was a non-executive director of the Company during the period from July 2012 to September 2013. Mr. Jørgensen graduated from Copenhagen Business School in 1991 with a Master of Economics degree, specialising in international strategy and marketing. He joined Arla Foods amba (“Arla”) in 1991 and has held several management positions within Arla’s international business group, including a three year position in the Middle East and a three- year position in Brazil. In 2005, he became the business group director for Arla’s Danish division and in 2007, he was appointed as executive vice president, with the overall responsibility for Arla’s international activities outside Scandinavia and the United Kingdom. In 2012, he was appointed to lead Arla’s newly established German/Dutch business group, with the clear objective of establishing Arla as a leading dairy company in Germany through mergers and acquisitions. Throughout his 25 years in Arla, Mr. Jørgensen has acquired extensive management experience within international sales, brand building, supply chain efficiency and general management. Mr. Jørgensen has especially been focused on growing the business significantly both organically and through acquisitions.

Mr. Filip Kegels - Non-Executive Director

Mr. Filip Kegels, aged 52, was appointed as a non-executive director of the Company in April 2016. Mr. Kegels has 30 years of experience in the management of fast-moving consumer goods with outstanding performance particularly in sales, marketing, integrated management and international business management. Mr. Kegels graduated from Catholic University of Antwerp in 1986 with a Master in Economics and obtained a Master’s degree in Management and Business Administration from University of Brussels in 1987. He joined Danone SA, a multi-national corporation and global leader in food products, including fresh dairy products and other health and nutrition food products and beverages in 1987, where he was initially engaged in sales and marketing activities in France and later became the general manager of various local and regional companies of Danone SA. Between 2010 and 2012, he was appointed as chief executive officer of Danone Unimilk CIS, a merger between Danone and the Russian company and market leader in dairy products in CIS. In 2012, he became the general manager for Danone Eastern, Central and Northern Europe for the fresh dairy division overseeing over 30 countries and with the objective to accelerate the profitable growth of that region. In 2014, Mr. Kegels was appointed as vice-president of Danone Africa, Middle East, and Asia-Pacific for the Fresh Dairy Division. Since 2015, Mr. Kegels has been vice-president for Danone Asia Pacific, India and Middle East, and non-executive chairman of Danone China and Japan for fresh dairy products division, in which he is responsible for the strategy of the division in the aforementioned region. From December 2014 to July 2015, Mr. Kegels was a director of Centrale Danone, a company listed on the Casablanca Stock Exchange in Morocco. Mr. Kegels is currently a director of Inner Mongolia Mengniu Danone Dairy Co. Ltd, a joint venture which is owned by the Group and Danone Group as to 80% and 20%, respectively. Since June 2016, Mr. Kegels has also been a director of Yakult Honsha Co., Ltd., a company listed on the Tokyo Stock Exchange.

Mr. Jiao Shuge (alias Jiao Zhen) - Vice-Chairman and Independent Non-Executive Director

Mr. Jiao Shuge (alias Jiao Zhen), aged 51, was appointed as a non-executive director of the Company in February 2004 and is a vice-chairman of the board of directors of the Company. Mr. Jiao was redesignated from a non-executive director of the Company to an independent non-executive director of the Company with effect from 12 April 2012. Mr. Jiao joined the Group in September 2002 and is currently a director and managing partner of CDH China Management Company Limited. Mr. Jiao received a bachelor’s degree in mathematics from Shandong University and a master’s degree in engineering from the No.2 Research Institute of Ministry of Aeronautics and Astronautics. Currently, Mr. Jiao also serves as a non-executive director and deputy chairman of WH Group Limited and an independent non-executive director of China Southern Airlines Company Limited, both companies listed in Hong Kong, a director of Joyoung Company Limited and a director of Henan Shuanghui Investment & Development Co., Ltd., both companies listed in Shenzhen. Mr. Jiao was a non-executive director of China Shanshui Cement Group Limited, a company listed in Hong Kong, from 30 November 2005 to 16 May 2014.

Mr. Julian Juul Wolhardt - Independent Non-Executive Director

Mr. Julian Juul Wolhardt, aged 43, was appointed as a non- executive director of the Company in January 2006 and was redesignated from a non-executive director of the Company to an independent non-executive director of the Company with effect from 12 April 2012. Mr. Wolhardt is currently the chief executive officer of DCP Advisors, Limited focusing on private equity transactions in the Greater China region. Mr. Wolhardt was previously a partner at KKR and Morgan Stanley responsible for private equity business in China. Mr. Wolhardt is a certified public accountant and certified management accountant and received a Bachelor’s degree in accounting from the University of Illinois (Urbana-Champaign) in the United States. Mr. Wolhardt currently serves as a non-executive director of Modern Dairy and a non-executive director of COFCO Meat Holdings Limited, both companies listed in Hong Kong. He was an independent non-executive director of China Cord Blood Corporation, a company listed on the New York Stock Exchange, from April 2012 to May 2015 and a non-executive director of United Envirotech Ltd, a company listed in Singapore, from October 2011 to August 2012.

Mr. Zhang Xiaoya - Independent Non-Executive Director

Mr. Zhang Xiaoya, aged 54, was appointed as an independent non-executive director of the Company in May 2009. Mr. Zhang is a graduate of the Shandong University and the school of management at the Beijing University of Aeronautics and Astronautics and is a senior engineer. He is currently the chairman of Zhong Ding Dairy Farming Co., Ltd (中鼎牧業有限公司), as well as the chairman of Beijing Xindajiading Investment Limited Company (北京信達嘉鼎投資有限公司), an independent director of New Focus Auto Tech Holdings Limited, an independent director of Syswin Inc. (思源經紀) and Guangzhou Zhujiang Digital Group (廣州珠江數碼集團). Mr. Zhang previously served as a director and president of AirMedia, a company listed on NASDAQ, and the chairman of
Unibank Media (銀廣通傳媒集團).

Mr. Yau Ka Chi - Independent Non-Executive Director

Mr. Yau Ka Chi, aged 59, was appointed as an independent non- executive director of the Company in October 2016. Mr. Yau has over 30 years of professional accounting experience including 20 years in serving China enterprises. He had worked for Ernst & Young for over 20 years in its Hong Kong, Toronto and Beijing offices with primary focus in providing professional services in accounting and audit, initial public offering, and corporate restructuring before retiring in September 2015. During his professional career with Ernst & Young, Mr. Yau was appointed as the Professional Practice Director of Greater China from July 2007 to June 2009, the Assurance Leader for Northern China Region from July 2010 to June 2014, the Oil & Gas Industry Leader of Greater China from May 2012 to June 2015 and the Assurance Leader of the Energy & Resources Markets Segment of Greater China from July 2013 to June 2015. Mr. Yau is currently an independent non-executive director of Yihai International Holding Ltd. and China Power International Development Limited, both companies listed in Hong Kong.

Mr. Yau holds a professional diploma in company secretaryship and administration from the Hong Kong Polytechnic (now known as the Hong Kong Polytechnic University) and is a member of the American Institute of Certified Public Accountants, the Illinois Certified Public Accountants Society and the Hong Kong Institute of Certified Public Accountants. Mr. Yau also holds a certified public accountant license issued by the Illinois Department of Financial and Professional Regulation, the United States.

Mr. Zhang Ping -

Mr. Zhang Ping, aged 52, graduated from Beijing Information Science and Technology University with a Master degree in Management Engineering. Mr. Zhang, who joined the Group in 2014, is currently the chief financial officer of the Group. He has over 24 years of experience in the industry of fast-moving consumer goods, specializing in the management of operation, finance and audit as well as risk control. Mr. Zhang worked in Swire Beverages group companies as the manager of the internal audit and system development, the finance director, the general manager of its bottler manufacturing company and the chief executive officer of Coca-Cola Bottlers Manufacturing Holdings Limited. Mr. Zhang is also the non-executive director of Yashili and Modern Dairy, both companies listed in Hong Kong.

Mr. Liu Shengli -

Mr. Liu Shengli, aged 52, is the vice president of Inner Mongolia Mengniu. Mr. Liu graduated from Dalian Fisheries University, and obtained a Master degree in Light Industry Technology and Engineering from Hubei University of Technology, then a master degree in business administration from China Europe International Business School. Mr. Liu joined the Group in 2002. He served as the general manager of the marketing department of UHT milk division, the general manager of ice cream division, the assistant to the president and the vice president of the Group. He is currently responsible for the chilled products and the business development of the Group. He has been working in the dairy industry for almost 19 years and has extensive management experience and advanced management concepts in the dairy industry. Mr. Liu was honored as a “Labour Model of Hohhot” of Inner Mongolia in 2010.

Mr. Wang Yansong -

Mr. Wang Yansong, aged 49, joined the Group in February 2012 as the assistant vice president of Inner Mongolia Mengniu as well as the person in charge of the quality and safety management system. Since January 2016, he has also been responsible for public affairs and relation and government relation of Inner Mongolia. Mr. Wang graduated in 1990 from the food mechanical engineering department of Beijing Institute of Light Industry with a Bachelor’s degree in Engineering. In 1990, he joined Beijing Refrigerator Compressor Factory as a production line technology engineer. In 1995, he was appointed the quality engineer for Beijing Embraco Snowflake Compressor Company Limited. In 1997, he joined Kimberly-Clark (China) Personal Hygienic Products Co., Ltd and took up positions including process control engineer, production manager, product development engineer and quality manager. In 2001, he joined Coca-Cola (China) Beverages Limited as technical service manager (North China). In 2009, he became the technical operation manager (Asia-Pacific Region) for Coca Cola. Prior to becoming the person in charge of the Group’s product quality, Mr. Wang had accumulated over 20 years of experience in quality control for fast-moving goods.

Mr. Gao Fei -

Mr. Gao Fei, aged 40, is the assistant vice president of the Group. Mr. Gao, joined Mengniu when it was established in 1999, and successively held the positions of regional manager, center manager, sales director and general manager of sales department and contributed to the rapid growth of the market share of Mengniu. Mr. Gao has abundant practical experience in the sales, marketing and promotion of dairy products. In 2016, he was appointed as the assistant vice president of the UHT business division. He is currently responsible for the operation management system of the core business of the Group. Mr. Gao obtained a Bachelor’s degree from Shandong University, then an Executive Master in Business Administration degree from Tsinghua University.

Mr. Shi Dongwei -

Mr. Shi Dongwei, aged 52, joined the Group in 2017 as vice president and is responsible for public affairs of the Group. Mr. Shi worked for the Ministry of Foreign Affairs of the PRC from 1989 to 2001. He then served as the director of global government affairs in China region of Lucent Technologies, Inc. in the United States, the vice president in China region of Agilent Technologies in the United States, the vice president of Starbucks Coffee Company and Alibaba Group. Mr. Shi has 16 years of experience in public affairs. He graduated from department of diplomacy in China Foreign Affairs University and received a bachelor’s degree in laws. He then obtained a master’s degree in diplomacy and trade from Monash University in Australia. He is also the part-time professor in the department of public administration of Chinese Academy of Governance.

+ More Board of Directors
Board Composition
The Board of the Company comprised eleven Directors, including three executive Directors, four non-executive Directors and four independent non-executive Directors.

The Board is responsible for the leadership and management of the Company. Key responsibilities of the Board comprise formulation of the Group's overall strategies and policies, setting of performance and management targets, evaluation of business performance and supervision of management's performance. The management was delegated the authority and responsibility by the Board for the management and operations of the Group.
 
Board Committees
To oversee particular aspects of the Company's affairs and to assist in the execution of its responsibilities, the Company has established four Board Committees under the Board, namely the Audit Committee, the Remuneration Committee, the Nomination Committee and the Strategy and Development Committee, each of which is governed by specific terms of reference approved by the Board, covering its functions, duties and powers.
 
Audit committee
The Audit Committee comprises four independent non-executive Directors, in which one possesses the relevant professional qualifications required under the Listing Rules.

The Audit Committee serves as a focal point for communication between other directors, the external auditors, and the management as their duties relate to financial and other reporting, internal controls and the auditing. The Audit Committee assists the Board in fulfilling its responsibilities by providing an independent review of financial reporting and by satisfying themselves as to the effectiveness of the Company's internal controls and as to the efficiency of the audits.
 
Remuneration Committee
The Remuneration Committee comprises four members, three of whom are independent non-executive Directors and the remaining one member is non-executive Director.

The duties of the Remuneration Committee are to review annually and recommend to the Board the overall remuneration policy and structure for the directors and senior management to ensure that the level of remuneration is linked to their level of responsibilities undertaken. The Remuneration Committee shall also evaluate annually the performance of the directors and the senior management and recommend to the Board specific adjustments in their remuneration and/or reward payments.
 
Nomination Committee
The Nomination Committee comprises four members, three of whom are independent and the remaining one member is non-executive Director.

The responsibilities of the Nomination Committee are to review the structure, size and composition, including the skills, knowledge and experiences of the Board and make recommendations to the Board regarding any proposed changes. The Nomination Committee is also responsible for identifying and nominating suitable candidates qualified to become Board members and makes recommendations to the Board on relevant matters relating to the appointment or re-appointment of directors if necessary, in particular, candidates who can add value to the management through their contributions in the relevant strategic business areas and which appointments will result in the constitution of a stronger and more diverse Board. In the selection process, the Nomination Committee makes reference to criteria including, inter alia, reputation for integrity, accomplishment and experience in the dairy industry, professional and educational background, and commitment in respect of available time.
 
Strategy and Development Committee
The Strategy and Development Committee comprises one executive Director, three non-executive Directors and two independent non-executive Directors.

The principal duties of the Strategy and Development Committee include drawing up long-term development strategies and significant investments on financing plans of the Company, proposing significant capital investment for operation projects, and conducting studies and making recommendation on important matters that would affect the development of the Company.
 
Memorandum and Articles of Association of the Company
 
Procedure for Shareholders to Propose a Person for Election as Director
 
Shareholders Communication Policy
 

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COMPANY INFORMATION

Listed Date 10 Jun 2004

Address Suites 801–2, 8th Floor,
COFCO Tower,
262 Gloucester Road,
Causeway Bay, Hong Kong

Telephone (852) 2180-9050

Facsimile (852) 2180-9039

Email info@mengniuir.com

No. of Click Rate

166660