Yili Recorded a Total Revenue of RMB 93.9 Billion over Q1–Q3 FY2022, and a YoY Increase in Revenue for 29 Consecutive Years
PR98537
HOHHOT, China, Oct. 28, 2022 /PRNewswire=KYODO JBN/
Yili Group recorded a total revenue of RMB 93.861 billion (USD 12.94 billion)
over the first three quarters of FY2022 with RMB 8.061 billion (USD 1.11
billion) net profit attributable to owners, marking a YoY increase in revenue
for 29 consecutive years, according to its financial results released on
October 27, 2022.
As analysts pointed out, the fact that Yili manages to maintain solid growth
amid the pandemic demonstrates the dairy giant's strong resilience. Both Yili
and the industry will expect rapid growth as soon as the macroeconomic
environment recovers.
The core business maintained stable growth while new growth drivers pick up the
pace
During the reporting period, Yili's liquid milk business continued to top the
industry both in terms of scale and market share. According to Nielsen, the
Yili pure milk and Satine organic milk series achieved double-digit growth and
maintained their market leadership.
While strengthening its existing dominant position in the liquid milk market,
Yili also ramped up resources to accelerate its new growth drivers,
particularly milk powder and cheese. During the reporting period, its milk
powder and dairy products increased by 60.5% YoY. Yili's infant milk powder
business saw the highest growth in the domestic market whilst the adult milk
powder business topped the market segment.
Yili's cheese business also witnessed a significant growth of over 30% YoY.
Leveraging the existing distribution network for its liquid milk business,
Yili's cheese business has enjoyed a far higher growth compared with other
market players.
Sticking to long-termism: Enhancing distribution channels and innovation
capabilities
Despite external challenges, Yili remains determined to stabilize market prices
and optimize inventory levels. These efforts have protected distribution
channels and helped Yili to achieve sustainable development.
Product innovation also continues to be a focus of the company. AMBPOMIAL's new
launch featuring local specialty fruits has proved not only a huge success
among consumers, but also contributed to greater economic prosperity for local
farmers. Leveraging strong innovation capabilities, Yili received the
qualification under China's strict standards on infant formula in just one year.
The milk powder business also saw a significant improvement in market
penetration via off-line channels and e-commerce. This year also witnessed an
expansion of the business through Yili's acquisition of Ausnutria, China's
biggest goat milk powder producer.
In the first three quarters, the FMCG and dairy industries in China faced
considerable challenges due to sporadic COVID-19 outbreaks across the country.
However, the pandemic has also increased the demand for healthy food,
especially dairy products. With its leadership in brand penetration,
distribution network and innovation capabilities, Yili is expected to resume
fast-paced growth once the pandemic recedes.
(USD 1 RMB 7.26)
SOURCE: Yili Group
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