Country for PR: China
Contributor: Xinhua News Agency
Friday, November 12 2021 - 22:43
AsiaNet
Yili Group Reports Operating Revenue of RMB 85 Billion in the First Three Quarters of 2021, with a Net Profit Growth of Over 30%
HOHHOT, China, Nov. 12, 2021 /Xinhua-AsiaNet/--

On October 28, 2021, Yili Group released its financial results for the first 
three quarters of 2021. During the period, Yili achieved a total operating 
revenue of RMB 85.007 billion and a net profit of RMB 7.967 billion, 
representing a year-on-year increase of 15.23% and 31.82%, respectively. Both 
indicators reached a record high, and the profit growth of more than 30% far 
outstripped expectations. 

Yili's net profit in the first three quarters has exceeded that of last year, 
signaling a new outlook for the company's growth prospects. The performance 
also indicated that Yili is now expected to become the first dairy company in 
Asia to exceed RMB 100 billion in revenue.

As Pan Gang, the Chairman of Yili Group, said, "We will invest more in the 
tracks focused on new consumption trends and aspire to do our best in each of 
them. We will also accelerate our digital transformation to boost the overall 
operational efficiency of the Group, in a bid to achieve our strategic 
objectives."

Core products maintain stable growth, while new growth drivers emerge

Yili has continued to stand out as the pacesetter of the market in liquid milk, 
ice cream, and other products. Yili Satine Organic Milk, AMBPOMIAL, and 
Changqing have clinched first place in their respective market segments. 

New product sales have risen strongly, with brand potential beginning to emerge 
as the new force underpinning Yili's performance growth. High-growth 
categories, including cheese, mineral water, low-temperature milk, and milk 
formula, have all sustained rapid growth. 

Yili's Xinhuo adult milk powder has led the market segment in sales volume, 
while Jinlingguan has been the infant formula brand which has seen the most 
rapid growth in China's market. During the first three quarters of 2021, Yili's 
infant formula category has reached a growth rate of more than 30% 
year-on-year. 

Yili has now covered major consumption scenarios of cheese. The first three 
quarters saw a year-on-year increase of 180% in the total retail sales of 
Yili's cheese business.

Strengthening infant formula leadership and entering the nutrition product 
market

Yili has proactively enriched categories and its strategic cooperation since 
the beginning of 2021. 

On October 27, 2021, Yili joined hands with goat milk leader Ausnutria Dairy 
and became the latter's largest shareholder. Ausnutria also features a 
comprehensive layout in nutrition products and has been licensed with China's 
quality mark for healthcare products. This will significantly facilitate Yili's 
future expansion in the health food market.

Digitalization empowers the industry to improve operational efficiency

Yili has established a dedicated team working in digitalization since 2019 and 
has developed its digitalization-oriented transformation strategy for the next 
decade, laying out a roadmap for marketing, products and supply chains. 

"Digital transformation should be accelerated to ensure our consumer-oriented 
practice in terms of brand-building and product innovation. That is the major 
task for Yili in 2021," according to Pan Gang.

Source: Yili Group

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   Caption: Yili Group reports operating revenue of RMB 85 billion in the first 
three quarters of 2021, with a net profit growth of over 30%.

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