What Ausnutria Dairy does

Ausnutria Dairy Corporation Ltd (澳优乳业) is a global dairy and nutrition group headquartered in Changsha, Hunan, China, listed on the Hong Kong Stock Exchange (1717.HK) since October 2009 and operating as a controlled subsidiary of Yili Group since 2022. Founded in September 2003, the company sells infant formula, cow and goat milk products, nutritional supplements, and goat cheese across more than 60 countries from a vertically integrated supply chain anchored by 11 factories in China, the Netherlands, and Australia. Its flagship Kabrita brand has led China's imported infant goat milk formula market with over 60% share for eight consecutive years, supported by the proprietary Lactobacillus rhamnosus MP108 probiotic strain developed through subsidiary Jinqi Bio and validated by the company's decade-long Goat Milk Research Blue Book.

The business is organized around three core revenue streams: infant formula milk powder (including Kabrita international revenue of RMB 974 million in 2025, up 50.7% YoY, and the Hyproca 1897 premium cow milk line), the Amalthea goat cheese business (RMB 1.006 billion in 2025 following the July 2024 100% acquisition), and a Family Nutrition segment covering probiotics, supplements, and adult health products (5.2% YoY growth). Distribution combines direct key-account sales to major retail chains (Walmart, LMA national maternal-infant chain), multi-tier regional distributors across Chinese provinces, and e-commerce storefronts in domestic and international markets. R&D is delivered through the "1+6+N Global Research Intelligence Chain" with the Ausnutria Food and Nutrition Research Institute at the center and university partners including Peking University Medical, Jiangnan University, and Northeast Agricultural University.

FY2025 revenue reached RMB 7.488 billion (up 1.2% YoY) with EBITDA of approximately RMB 518 million. The company employs more than 3,000 people globally and has accumulated over 500 national patents, an MSCI AA ESG rating (first in China's food industry), and brand recognition through Kabrita, Hyproca 1897, Neolac, Oz Farm, Nutrition Care, Aunulife, iFy, Jinqi Bio, and Amalthea.

Name

Ausnutria Dairy

Legal name

澳优乳业(中国)有限公司

Website

https://ausnutria.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ausnutria Dairy is a Hong Kong-listed dairy and nutrition group (1717.HK) controlled by Yili Group, producing infant formula including the leading Kabrita goat milk brand, nutritional supplements, and Amalthea goat cheese across 60+ countries from 11 factories in China, the Netherlands, and Australia.

Ownership category

akta.pro rank

Product category

Infant Formula & Dairy Products

NAICS

Dairy Product Manufacturing (3115), Dairy Product (except Frozen) Manufacturing (31151), Dry, Condensed, and Evaporated Dairy Product Manufacturing (311514)

SIC

Dairy Products (2020), Food And Kindred Products (2000)

akta.pro primary industry

Follow-On & Growing-Up Milk Formula Manufacturing (Stage 2/3+) (AFAHAHAB)

akta.pro secondary industries

Standard Infant Formula Manufacturing (Cow Milk–Based) (AFAHAHAA), Toddler & Pediatric Nutritional Powder Manufacturing (Milk-Based) (AFAHAHAH), Infant Formula & Specialized Dairy Nutrition Manufacturing (AFAKAKAJ)

Keywords

• Infant formula
• Goat milk products
• Dairy manufacturing
• Nutritional supplements
• Goat cheese

Headquarters

HQ city

Changshan

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Infant Formula Milk Powder: Revenue from goat milk formula brand Kabrita (RMB 974 million international revenue, 50.7% YoY growth) and cow milk formula products. Core business segment navigating contracting domestic infant milk formula market while expanding internationally.
2. Goat Cheese Business: Revenue of RMB 1.006 billion following the 2024 acquisition of Dutch goat cheese company Amalthea Group (100% acquisition completed July 2024).
3. Family Nutrition: Growth of 5.2% YoY in Family Nutrition business segment covering nutritional supplements and health products.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Ausnutria Dairy is a global dairy and nutrition company that develops, manufactures, and sells premium infant formulas (notably the Kabrita goat milk formula brand), cow milk formulas, goat cheese (via Amalthea), probiotics (via Jinqi Bio), and family nutrition products. The company operates 11 factories across China, the Netherlands, and Australia with full supply chain control from raw milk sourcing to finished products, selling in over 60 countries and regions. Revenue is dominated by infant formula and dairy products, with FY2025 revenue of approximately RMB 7.488 billion.

Differentiator

Problem solved

Functional benefit

Brands

• Kabrita (佳贝艾特): Global leading goat milk formula brand, maintaining over 60% market share in China's imported infant goat milk formula market for eight consecutive years
• Haipnuk (海普诺凯)
• Neolac (能立多)
• Oz Farm澳滋
• Nutrition Care
• Aunulife
• iFy (爱益森)
• Jinqi Bio (锦旗生物)
• Amalthea

Products and services

• Kabrita (佳贝艾特) Goat Milk Formula
• Hyproca 1897 (海普诺凯1897) Premium Cow Milk Formula
• Neolac (能立多) Infant and Young Child Nutrition
• Amalthea Goat Cheese
• Nutrition Care Supplements
• Aunulife Probiotic Brand
• iFy (爱益森) Probiotic Nutritional Products
• Oz Farm Australian Milk Products

Quantifiable outcome

• Kabrita international revenue reached RMB 974 million with 50.7% YoY growth, CAGR exceeding 50% for three consecutive years
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Jiangnan University (江南大学)coreStrategic or Co-development Partner · 1 October 2025Strategic cooperation signed in October 2025 for full-chain innovation collaboration, marking new phase of industry-university-research partnership.
• Northeast Agricultural University (东北农业大学)minorStrategic or Co-development Partner · 1 March 2025University-enterprise strategic cooperation signed in March 2025 to inject innovative momentum for China's dairy industry development.
• Amalthea GroupcoreStrategic or Co-development Partner · 1 July 2024Ausnutria completed 100% acquisition of Dutch goat cheese company Amalthea Group in July 2024, locking in leading position in goat cheese industry. The acquisition generated RMB 1.006 billion in revenue.
• AunulifeminorStrategic or Co-development Partner · 1 January 2019Full acquisition of Australian brand Aunulife in 2019, expanding nutrition business into probiotics field.
• Fenghua Bio-tech (丰华生技)minorStrategic or Co-development Partner · 1 January 2019Strategic investment in Fenghua Bio-tech in 2019, further expanding probiotics business capabilities.
• Nutrition CarecoreStrategic or Co-development Partner · 1 August 2016Acquisition of Australian premium nutrition brand Nutrition Care in 2016, expanding into international nutrition market.
• Farmel DairyminorStrategic or Co-development Partner · 1 January 2014Acquisition of Dutch Farmel Dairy in 2014 as part of supply chain integration in Netherlands.
• Peking University Medical Department (北京大学医学部)coreStrategic or Co-development Partner · 1 January 2012Joint establishment of 'Peking University-Ausnutria Mother-Infant Nutrition Research Center' in 2012, beginning ten-year industry-university-research strategic cooperation.
• Hyproca Group (海普诺凯集团)coreStrategic or Co-development Partner · 1 August 2011Acquisition of century-old Dutch dairy company Hyproca Group in August 2011, bringing 126 years of Dutch dairy manufacturing expertise and establishing goat milk formula leadership.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Peers

• H&H Group (Biostime):

Broad incumbents

• Inner Mongolia Yili Industrial Group: Yili is both Ausnutria's controlling shareholder and China's largest dairy company with overlapping infant formula brands (Satine, Jinlingguan). Comparable as the dominant Chinese dairy incumbent with similar infant formula positioning but a much broader portfolio spanning liquid milk, yogurt, and ice cream.
• China Mengniu Dairy: Mengniu is one of China's two largest dairy companies and a broad incumbent with multiple infant formula sub-brands plus liquid milk, yogurt, and ice cream portfolios. Comparable as a Chinese dairy peer with similar distribution scale and overlapping infant nutrition products.

Direct peers

• China Feihe: China Feihe (6186.HK) is the leading domestic Chinese infant formula brand (Astrabionymous, Feihe) and a direct competitor in the high-end infant formula segment. Highly comparable as a HKEX-listed, China-focused infant formula company competing for the same shrinking birth-rate-exposed consumer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries12 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ausnutria Dairy