diff --git a/homeassistant/components/yeelight/__init__.py b/homeassistant/components/yeelight/__init__.py
index 3d1a6cd03e1..8684e331fad 100644
--- a/homeassistant/components/yeelight/__init__.py
+++ b/homeassistant/components/yeelight/__init__.py
@@ -683,6 +683,8 @@ class YeelightDevice:
         """Fetch capabilities and setup name if available."""
         scanner = YeelightScanner.async_get(self._hass)
         self.capabilities = await scanner.async_get_capabilities(self._host) or {}
+        if self.capabilities:
+            self._bulb_device.set_capabilities(self.capabilities)
         if name := self._config.get(CONF_NAME):
             # Override default name when name is set in config
             self._name = name
diff --git a/homeassistant/components/yeelight/manifest.json b/homeassistant/components/yeelight/manifest.json
index 5910341cfb4..0a4b5d4499f 100644
--- a/homeassistant/components/yeelight/manifest.json
+++ b/homeassistant/components/yeelight/manifest.json
@@ -2,7 +2,7 @@
   "domain": "yeelight",
   "name": "Yeelight",
   "documentation": "https://www.home-assistant.io/integrations/yeelight",
-  "requirements": ["yeelight==0.7.3", "async-upnp-client==0.20.0"],
+  "requirements": ["yeelight==0.7.4", "async-upnp-client==0.20.0"],
   "codeowners": ["@rytilahti", "@zewelor", "@shenxn", "@starkillerOG"],
   "config_flow": true,
   "dependencies": ["network"],
diff --git a/requirements_all.txt b/requirements_all.txt
index 1559edd0311..b7d2197f27d 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -2438,7 +2438,7 @@ yalesmartalarmclient==0.3.4
 yalexs==1.1.13
 
 # homeassistant.components.yeelight
-yeelight==0.7.3
+yeelight==0.7.4
 
 # homeassistant.components.yeelightsunflower
 yeelightsunflower==0.0.10
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index cf214597fe8..73f3b19c8b6 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -1367,7 +1367,7 @@ yalesmartalarmclient==0.3.4
 yalexs==1.1.13
 
 # homeassistant.components.yeelight
-yeelight==0.7.3
+yeelight==0.7.4
 
 # homeassistant.components.youless
 youless-api==0.12