PR97628

HUHHOT, China, Sept. 1, 2022 /PRNewswire=KYODO JBN/ --

Yili Group (600887.SS)'s total revenue and net profit reached new heights of

RMB 63.463 billion ($9.2 billion) and RMB 6.139 billion ($0.89 billion), up by

12.31% and 15.40% year-on-year, respectively, according to its FY2022 H1 report

released on August 30, 2022.

During the reporting period, the company's total revenue outperformed the

second tier by over RMB 15 billion ($2.17 billion), widening the gap to 33%

from 25% in the previous year.

Yili's milk powder and dairy product business achieved a growth rate of 58.28%,

which was the fastest in the dairy industry. Its infant formula realized the

fastest growth and adult milk powder remained the leader in its segment; the

cheese category also grew by leaps-and-bounds, expanding by over 40%; the

liquid milk business took the largest market share with an expanding strength;

growing at a rate of 31.71%, the ice cream business topped the industry and has

held the largest market share for 28 years in a row.

Core business achieves a stronger lead, and new growth drivers show faster

momentum

During the reporting period, Yili's liquid milk business had a total revenue of

RMB 42.892 billion ($6.218 billion), leading the industry in terms of scale and

market share. The AMBPOMIAL retained the first position in its category with a

market share of 65%. As the top brand of organic milk, Satine continued to hold

the largest market share in the industry.

Yili's ice cream business kept growing with a wider margin during the same

period, topping the industry with year-on-year growth in sales of 31.71%.

As Yili's second growth curve, the milk powder, cheese business and other dairy

products kept growing at a pace which far outstripped its peers, realizing

revenue of RMB 12.071 billion ($1.75 billion) in FY2022 H1.

Innovation accelerates and new product growth exceeds expectations

Yili accelerated its pace of rolling out new products and full life-cycle

coverage, with new products revenue accounting for 12.48%.

Satine Ultra-filtered Milk, Cute Star A2beta-casein Pure Milk, Jinlingguan

Seine Mouiller A2 OPO Organic Infant Formula and other new products have been

launched.

Yili has also kept focusing on organic milk, milk-based nutrients, cheese

snacks, natural mineral water and other businesses that show high growth

potential. These categories are growing by over 20% year-on-year, of which the

sales of Inikin Yike live fountain have more than doubled in H1 this year.

Consumer trust enables growth despite challenges

To better serve consumers, Yili remains committed to its core capacities such

as product quality, channels and resources.

Yili has extended its reach to novel channels by seizing new growth

opportunities in maternal and infant, catering, e-commerce, community group

purchases and other special channels.

Despite COVID-19 and the impact of inflation, Yili has ensured timely delivery

of products by optimizing global supply chain networks. Utilizing its global

operating platform, Yili has enabled efficient coordination among its bases in

China, Southeast Asian countries and New Zealand, with its overseas revenue

expanding by 58% year-on-year.

Commenting on Yili's future development, Pan Gang, Chairman and President of

Yili Group, said, "Despite the challenges in the external environment, we

remain confident and capable of improving our core competencies after

surpassing the annual income of over RMB 100 billion ($14.49 billion), so that

we may unleash the potential for value creation and future development.  At the

same time, we will share our values with consumers, employees, players across

the whole industrial chain and all of society under the guidance of our New

Vision for Value Creation."

(USD 1 ~ RMB 6.90)

Source: Yili Group

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   Caption: Yili Achieves Double-digit Revenue and Profit Growth in H1 FY2022