Shijiazhuang Junlebao Dairy Valuation, Funding & Investors

Shijiazhuang Junlebao Dairy is valued at $1.1B as of March 2020.

Last Shijiazhuang Junlebao Dairy valuation

$1.1B

Undisclosed stage · Mar 2020

Last Shijiazhuang Junlebao Dairy funding round

$171M

Undisclosed stage · Mar 2020

Cumulative funding Shijiazhuang Junlebao Dairy raised

$741M

across 2 funding rounds

Key investors in Shijiazhuang Junlebao Dairy

  • HSG
  • Primavera Capital Group
  • Ping An Capital
  • Junqian Management

Shijiazhuang Junlebao Dairy Overview

About Shijiazhuang Junlebao Dairy

Shijiazhuang Junlebao Dairy is a Shijiazhuang-headquartered producer of fluid milk, milk powder, yogurt, and other dairy products distributed across China through junlebaoruye.com.


Founded

1995

HQ

ChinaShijiazhuang

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.1B (Mar 2020)

Shijiazhuang Junlebao Dairy Valuation

Shijiazhuang Junlebao Dairy is currently valued at $1.1B, based on its undisclosed-stage round in March 2020.

The $171M round was led by HSG.

Shijiazhuang Junlebao Dairy's valuation has moved from $1.1B at its undisclosed-stage round in November 2019 to $1.1B in March 2020, across 2 priced rounds.

Shijiazhuang Junlebao Dairy valuation by funding round

Shijiazhuang Junlebao Dairy valuation by funding round
DateStageValuation
Mar 2020Undisclosed stage$1.1B
Nov 2019Undisclosed stage$1.1B

Shijiazhuang Junlebao Dairy Funding History

Shijiazhuang Junlebao Dairy has raised a total of $741M across 2 funding rounds.

Shijiazhuang Junlebao Dairy's first fundraising round was a $570M undisclosed-stage round in November 2019. The most recent completed round was a $171M undisclosed-stage round in March 2020.

Shijiazhuang Junlebao Dairy funding rounds

Shijiazhuang Junlebao Dairy funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2020Undisclosed stageHSG (lead)$171M$1.1BShijiazhuang Junlebao Dairy (Junlebao Dairy Group), founded in 1995, is a major Chinese dairy company focused on liquid milk, yogurt, cheese, and fresh milk products, operating 21 production plants and 17 ranches across provinces like Hebei, Henan, Jiangsu, and Jilin, with over 14,000 employees. In March 2020, it completed a 1.2 billion yuan strategic financing round (approximately $170.55M), described as an Unattributed VC round, with investors including Sequoia Capital China, Zhongqin Xinglong, and Hebei Construction Investment Fund; HSG is not explicitly identified but aligns with query details. A prior round in July 2019 valued the company at $1,141.05M, and earlier in 2019, Shijiazhuang Penghai Venture Capital Fund (backed by Hebei SASAC) acquired 26.7% equity for 2.1 billion yuan from Mengniu Dairy, which had disposed of Junlebao in 2019. Post-2020, Junlebao pursued IPO preparations, receiving additional investments from Ping An Capital and Chunhua Capital in June 2020, and later from Shijiazhuang Penghao Venture Investment Fund. The company aimed for a main board listing supported by Hebei provincial government initiatives to revitalize the local dairy industry after the Sanlu collapse. By 2023-2025, it reported adjusted net profits of 600 million yuan (2023), 1.16 billion yuan (2024), and further growth, with low-temperature liquid milk becoming its largest segment at 42.5% of revenue (6.437 billion yuan in first three quarters of 2025), achieving 14.5% market share in 2024. Gross margins remained stable at 32-34.7% amid price pressures, supported by self-built milk sources (33 pastures, 192,000 cows by Q3 2025), technological innovation, and digital logistics. Junlebao accelerated growth through acquisitions in 2023, including stakes in cheese startup Laoshen Shijia, Laiside Intelligent and Dairy, Yinqiao Technology, Mo Yogurt, and Yiran Biology, targeting 50 billion yuan revenue by 2025 and Hong Kong IPO filing as China's third-largest dairy firm. It separated from Mengniu in 2019, which excluded Junlebao from its 2020 revenue of RMB76,034.8 million, noting comparable business growth excluding the disposal.
Nov 2019Undisclosed stagePing An Capital (lead); Primavera Capital Group (lead); Junqian Management$570M$1.1BShijiazhuang Junlebao Dairy, founded in 1995, is a leading Chinese dairy producer specializing in infant milk powder, low-temperature yogurt, room-temperature yogurt, liquid milk, and animal husbandry, operating 17 production plants and 10 ranches as of late 2019. In November 2019, Ping An Capital, Primavera Capital Group, and Junqian Management agreed to acquire a 51% stake from parent China Mengniu Dairy for CNY4 billion (approximately USD569 million), implying a full company valuation of approximately CNY7.84 billion and enabling Junlebao's spin-off into an independent entity to strengthen finances, focus on core businesses, and expand premium dairy products. The transaction positioned Junlebao for accelerated growth leveraging investor expertise in consumer sectors, with Primavera highlighting synergies in products, brands, and channels from prior investments like Yum China and Alibaba. Junlebao's flagship products such as Purjoy and Cheese Yogurt had propelled its low-temperature yogurt market share to top three in China, supported by a full dairy industry chain including self-owned ranches. Post-deal, Junlebao continued expanding, achieving third-place ranking among comprehensive dairy companies in China by 2024 retail sales with 4.3% market share, 33 self-operated ranches, 192,000 cattle heads, and 66% raw milk self-sufficiency. By first nine months of 2025, revenue reached 15.133 billion yuan, led by chilled liquid milk at 6.437 billion yuan (42.5%), powdered milk at 3.345 billion yuan (22.1%), and ambient milk at 2.8 billion yuan (18.6%), with adjusted net profits growing to 1.16 billion yuan in 2024 from 600 million yuan in 2023.

Who has invested in Shijiazhuang Junlebao Dairy?

4 investors have backed Shijiazhuang Junlebao Dairy across its funding rounds, including HSG, Primavera Capital Group, Ping An Capital and Junqian Management.

Lead investors include HSG, Ping An Capital and Primavera Capital Group.


Shijiazhuang Junlebao Dairy Investors

Investors in Shijiazhuang Junlebao Dairy by funding rounds participated
InvestorHQRoundsRoleFirst check
Ping An CapitalChinaShanghai1LeadNov 2019
Primavera Capital GroupChinaBeijing1LeadNov 2019

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Investments by Shijiazhuang Junlebao Dairy

Shijiazhuang Junlebao Dairy has invested in 1 company to date.

Latest investment by Shijiazhuang Junlebao Dairy was on January 24th 2022. Shijiazhuang Junlebao Dairy invested in Lesson in their $26M Undisclosed stage round.


Latest Investments by Shijiazhuang Junlebao Dairy

Lesson
Description
Lesson is an e-commerce platform selling dairy products such as milk, cream, butter, yogurt, cheese, custard, fermented items, lactose-free milk, and fortified soy milk. It also offers fruit juices and ice creams for direct online purchase and delivery.
HQ CountryChina
HQ City
Kunming
Deal Date24 Jan 2022
RoundUndisclosed stage
Raised$26M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Shijiazhuang Junlebao Dairy Competitors

Shijiazhuang Junlebao Dairy competitors include listed companies like M. Dias Branco, SOLIBRA Cote d'Ivoire, Mission Produce and Aryzta, and private ones like Hongjiu Fruit and Yijiupi.

Public and private companies comparable to Shijiazhuang Junlebao Dairy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
M. Dias BrancoBrazilBrazilPublicly listed$2B$250M$1.1B0.5x
Hongjiu FruitChinaChongqingPrivate--$1.1B-
YijiupiChinaWuhuPrivate--$1.1B-
SOLIBRA Cote d'IvoireCote d'IvoireCote d'IvoirePublicly listed--$1.1B-
Mission ProduceUnited StatesUnited StatesPublicly listed$1.4B$104M$1.1B1.1x
AryztaSwitzerlandSwitzerlandPublicly listed$2.6B$353M$1.2B0.8x

Shijiazhuang Junlebao Dairy Public Comps

Shijiazhuang Junlebao Dairy is still privately-owned, but its public comps include M. Dias Branco, SOLIBRA Cote d'Ivoire, Mission Produce, Aryzta, Mezzan Holding, Orion Holdings, Isfelag, Lassonde, BellRing Brands and Betagro.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
M. Dias Branco$2B$250M0.5x0.5x4.2x5.0x
SOLIBRA Cote d'Ivoire------
Mission Produce$1.4B$104M1.1x1.1x15.4x14.3x
Aryzta$2.6B$353M0.8x0.8x5.8x5.7x
Mezzan Holding$966M$114M1.5x1.5x13.1x9.7x
Orion Holdings$2.5B$518M0.9x-4.3x-
Isfelag$214M$52M5.7x-23.6x-
Lassonde$2.1B$246M0.7x0.8x6.4x6.1x

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Common questions about Shijiazhuang Junlebao Dairy

When was Shijiazhuang Junlebao Dairy founded?Shijiazhuang Junlebao Dairy was founded in 1995.
Where is Shijiazhuang Junlebao Dairy headquartered?Shijiazhuang Junlebao Dairy is headquartered in Shijiazhuang, China.
Is Shijiazhuang Junlebao Dairy publicly listed?No, Shijiazhuang Junlebao Dairy is a private, VC-backed company.
What is Shijiazhuang Junlebao Dairy's valuation?Shijiazhuang Junlebao Dairy was last valued at $1.1B in its undisclosed-stage round in March 2020.
How much funding has Shijiazhuang Junlebao Dairy raised?Shijiazhuang Junlebao Dairy has raised $741M across 2 funding rounds.
What was Shijiazhuang Junlebao Dairy's last funding round?Shijiazhuang Junlebao Dairy's last funding round was a $171M undisclosed-stage round in March 2020, led by HSG.
Who are Shijiazhuang Junlebao Dairy's investors?Shijiazhuang Junlebao Dairy's investors include Ping An Capital, Primavera Capital Group, Junqian Management and HSG.
Which companies are comparable to Shijiazhuang Junlebao Dairy?Companies comparable to Shijiazhuang Junlebao Dairy include M. Dias Branco, Hongjiu Fruit, Yijiupi, SOLIBRA Cote d'Ivoire, Mission Produce and Aryzta.
How many companies has Shijiazhuang Junlebao Dairy invested in?Shijiazhuang Junlebao Dairy has invested in 1 company, including Lesson.
What was Shijiazhuang Junlebao Dairy's last investment?In January 2022, Shijiazhuang Junlebao Dairy invested in Lesson's $26M undisclosed-stage round.

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