Chinese dairy giant Inner Mongolia Yili Industrial Group Co., Ltd. – based in Hohhot, capital of North China’s Inner Mongolia region – reported an operating income of 110.6 billion yuan ($16.76 billion) in 2021, a year-on-year increase of 14.15 percent.
The company, known for short as Yili Group, also posted a net profit of 8.73 billion yuan, a year-on-year increase of 23 percent, according to its 2021 annual report released on April 27.
With its latest robust results, Yili became the first dairy company in Asia with an annual operating income exceeding 100 billion yuan.
According to the 2022 first-quarter report released on the same day, Yili achieved a total operating income of 31.05 billion yuan in Q1, up 13.47 percent on the previous corresponding period, while net profit was 3.51 billion yuan, up 24.08 percent.
As a leading dairy company in China, Yili has integrated its international high-quality resources and comprehensively promoted the development of the industry.
Analysts pointed out that Yili’s performance, despite the negative global economic impact of COVID-19, reflected China’s rapid economic recovery and its structural upgrading to meet market demand. They said it was also a manifestation of Yili’s long-term stable development, due to its competitive advantages and actions undertaken to limit risk.
Boosted by continued product and technological innovation, Yili’s traditional liquid milk and cold drinks last year posted operating income of 84.91 billion yuan and 7.16 billion yuan respectively, up 11.54 percent and 16.28 percent year-on-year, ranking them first in the Chinese market.
Sales revenue of key products, such as Satine, Ambrosial and Jinlingguan, continued to show growth in 2021.
While ensuring the safety of its dairy products, the company also conducts in-depth research into consumer preferences, to provide customers with a raft of innovative products.
Source: Yili Group