China

The plan reflects China’s broader push to enhance food security, reduce reliance on imports, and elevate the quality of domestic dairy production.

These appointments follow the resignations of Mr. Xu Jun, Mr. Yang Huicheng, and Mr. Shen due to other work commitments.

Faced with a sharp decline in domestic milk production and escalating trade tensions with the USA, Chinese buyers are rapidly turning to alternative suppliers.

While traditional milk consumption is decreasing, demand for higher-end dairy products such as cream and condensed milk rises.

Combined, dividends and share repurchases brought total shareholder returns to 100.4% of profits.