来源：瞭望智库 "我是黑土地的孩子，一辈子就想做'母亲的事业'，做良心的事业。" 说起乳业，飞鹤董事长冷友斌的语速不自觉地放得很慢，思绪仿佛回到童年的黑龙江农垦牧场。牧场的 雾气，牛棚的热气，为家里十几头牛割草、挤奶的背影……让他难以忘怀。从那个时候开始，这个生在 黑土地、长在牛棚边的孩子，再没离开过乳业。 在同行眼中，冷友斌总爱做些"不合时宜的傻事"，自建牧场、自研生产线，这些重资产的投入一度让乳 业圈不看好。飞鹤却能逆势翻盘，从地方小厂逐渐蜕变为国产奶粉标杆，乃至将中国婴儿奶粉推向全球 舞台。有人说他"敢赌""有魄力"，但在冷友斌看来，与其说是"赌赢了"，不如说是有战略眼光，选对了 方向，且坚定专注于婴儿奶粉事业。 40年来，中国乳业经历了追赶与重塑，冷友斌既是见证者，也是破局者。飞鹤的逆袭轨迹，也是中国乳 业从低谷到奋起、从跟跑到领跑的缩影。他和飞鹤的故事，有中国乳业如何学习、如何创新、如何超越 又如何在世界舞台上重新定义自己的探索实践。 为了探寻这位中国乳业坚守者的奋斗故事，瞭望智库携手中华酒打造的《品味中华·对话新时代企业 家》栏目走进飞鹤，与中国飞鹤董事长冷友斌展开深度对话，揭开那些不为人知的坚持 ...

Core Viewpoint - The article emphasizes that Feihe has spent 63 years developing a brand that is "more suitable for Chinese babies," focusing on a systematic approach that integrates research, production, and data to establish trust and quality in its products [4][6][22]. Group 1: Historical Development - Feihe has evolved over 63 years, establishing itself as a leader in the dairy industry by prioritizing the suitability of its products for Chinese infants [11][13]. - The brand's journey began with a commitment to quality and safety, leading to the establishment of a full supply chain control in 2006, which helped it navigate industry crises [12][14]. - By 2019, Feihe became the highest-valued dairy company in Hong Kong, reflecting its growth alongside the recovery of the Chinese dairy industry [13]. Group 2: Research and Development - Feihe's approach to "suitability" is rooted in extensive research, including the establishment of a national research team focused on maternal and infant nutrition, which has led to significant findings in infant formula development [19][29]. - The company has developed a unique system that emphasizes the nutritional needs of Chinese infants, using local data to inform its product formulations [20][28]. - Feihe's commitment to research is demonstrated by its involvement in over 40 national research projects and the publication of numerous academic papers, establishing it as a leader in the field [29][33]. Group 3: Quality and Safety - The brand's "two-hour ecological circle" ensures that milk is processed within two hours of milking, maintaining freshness and nutritional quality, which is a significant competitive advantage [22][23]. - Feihe's products exceed international standards in protein content and purity, reinforcing its commitment to quality and safety [17][20]. - The company has built a comprehensive clinical validation system, which includes long-term studies to ensure that its products meet the nutritional needs of infants [25][26]. Group 4: Market Position and Strategy - Feihe's strategy contrasts with many international brands that rely on global supply chains; instead, it focuses on local sourcing and production to enhance product quality [14][19]. - The brand has successfully transformed the concept of "suitability" into a quantifiable and verifiable scientific proposition, enhancing consumer trust [22][38]. - Feihe's leadership in the market is not just based on sales but on setting new standards for quality and safety in the dairy industry, redefining competition in the sector [29][39].

Core Insights - The article discusses the unique competitive advantage of Feihe, a brand that has established itself as "more suitable for Chinese babies' physique" over its 63 years of existence, emphasizing its deep-rooted research and development efforts [1][3][19] - Feihe's approach to creating infant formula is based on a comprehensive understanding of Chinese maternal and infant needs, which sets it apart from international brands that often rely on standardized global practices [7][20] Group 1: Brand Development and Strategy - Feihe has built its brand on the premise of being "more suitable," which is supported by decades of research and a self-controlled supply chain that spans from pasture to production [6][9] - The company has established a unique "two-hour ecological circle" that ensures fresh milk is processed within two hours, significantly enhancing the nutritional quality of its products [11][21] - Feihe's commitment to research is evident in its participation in national projects and the establishment of a large maternal and infant database, which informs its product development [15][16] Group 2: Research and Innovation - The brand has developed a proprietary understanding of the nutritional needs of Chinese infants, leading to innovations in formula composition that align closely with the nutritional profile of Chinese breast milk [10][14] - Feihe's research efforts have resulted in significant scientific contributions, including over 200 published papers and nearly 700 patents, positioning it as a leader in the field of infant nutrition [15][16] - The company has created a robust clinical validation system that continuously tests and refines its products based on real-world data, enhancing consumer trust [12][21] Group 3: Market Position and Competitive Advantage - Feihe's strategy has allowed it to redefine industry standards, moving the focus from cost and scale to quality and scientific validation, thereby establishing a new competitive landscape in the dairy industry [20][21] - The brand's ability to integrate research with market needs has resulted in sustained sales leadership in China and globally, demonstrating the effectiveness of its research-driven approach [17][18] - Feihe's comprehensive system of research, production, and validation creates a formidable barrier to entry for competitors, making its model difficult to replicate [19][21]

Core Viewpoint - The article emphasizes the importance of tailored nutrition for Chinese babies, highlighting the advancements made by Feihe in producing milk powder that aligns with local dietary needs and scientific research [3][11][19]. Group 1: Product Differentiation - Feihe's marketing slogan "more suitable for Chinese babies" has gained significant attention, leading to a broader discussion about product suitability in various contexts [3]. - The company has launched new products that focus on measurable scientific standards to evaluate the suitability of milk powder for Chinese infants [11][19]. Group 2: Milk Source and Freshness - Feihe has established 13 self-owned farms and 115,000 dairy cows to ensure high-quality, controllable milk sources, addressing past concerns about domestic milk quality [11][12]. - The company emphasizes a closed cold chain process, reducing the time from milking to processing to under two hours, which enhances the nutritional value of the milk [12][13]. - Feihe's milk quality exceeds EU standards significantly, with protein content ≥3.4% and bacterial count ≤0.5 million, showcasing its commitment to high-quality production [12][13]. Group 3: Research and Development - Feihe has invested in extensive research, including over 40 national and provincial projects, to develop a comprehensive understanding of breast milk composition and its implications for infant nutrition [16][17]. - The company has published 207 papers and holds 698 patents, demonstrating its commitment to advancing nutritional science [17]. Group 4: Formula Design - The formula design is based on a deep understanding of the nutritional components of Chinese breast milk, ensuring that the milk powder is tailored to local dietary habits and genetic factors [16][17]. - Feihe's recent product upgrades include innovations like HMOs, probiotics, and a proprietary Brain Matrix, which closely mimic the nutritional profile of breast milk [17][19]. Group 5: Evidence-Based Results - Feihe conducts clinical trials to validate the effectiveness of its products, ensuring that claims about nutritional benefits are backed by scientific evidence [19][21]. - The company has successfully demonstrated the impact of its formulations on various aspects of infant development, including growth, digestion, and immune function [21]. Group 6: Market Positioning - Feihe's approach to building trust through transparency and scientific validation has led to a strong market presence, with over 100 million mothers choosing its products [21][23]. - The article concludes that Feihe's commitment to quality and research positions it as a leader in the domestic milk powder market, setting a standard for others to follow [23].

Core Insights - The "Northeast Really Works" microfilm series produced by Feihe has gained significant attention, achieving an online exposure of 848 million by October 9, showcasing the company's commitment to its roots and the "more suitable" promise for Chinese babies [1][3]. Group 1: Company Commitment and Initiatives - Feihe emphasizes its responsibility in revitalizing the Northeast by creating "more suitable offers for Northeast children," reflecting its dedication to local development and community support [3][8]. - The company has created 170,000 jobs and helped over 160,000 farmers increase their income, contributing to the appreciation of over one million acres of farmland in Heilongjiang [8]. - Feihe has invested 1.2 billion in a fertility subsidy program and has donated 650 million to support education in Heilongjiang, demonstrating its commitment to corporate social responsibility [8]. Group 2: Technological and Operational Advancements - Feihe has established the first modern dairy farm in China and the first large-scale automated production line for lactoferrin, showcasing its commitment to technological innovation and domestic production [4]. - The company has integrated AI systems for real-time monitoring of milk powder production, achieving full digital operation across its processes [4][12]. - Feihe's proprietary milk sources have a bacterial index that is 20 times better than EU standards, ensuring high product quality from the source [10]. Group 3: Product Development and Research - Feihe leads national key research projects and has established the largest maternal and infant health cohort in China, pushing the boundaries of infant formula research [12]. - The company has developed innovative formulas with a DHA to ARA ratio of 1:1.7 and significantly enhanced nutrient absorption rates, making its products more suitable for Chinese infants [12][14]. - Feihe has maintained its position as the top seller in the Chinese infant formula market for six consecutive years and ranks first globally, with a brand recognition rate of 99% as of Q2 2025 [15].