PR100455

HOHHOT, China, Nov. 1, 2023 /Xinhua-AsiaNet/--

On October 30, Yili Group released its financial results for the first three

quarters of FY2023. During the reporting period, the company's revenue amounted

to 97.404 billion yuan (approx. USD 13.32 billion) and net profit rose by

16.36%.

These record high figures indicate a continuous improvement in Yili's core

business capabilities. The Asian dairy giant continued to step up the

application of R&D outcomes, evidenced by the launch of a series of innovative

healthy products that have received positive feedback from consumers.

In terms of business units, Yili's liquid milk business secured its leading

position in the segment with accelerated growth throughout Q1 to Q3. It

reported a revenue of 65.432 billion yuan (approx. USD 8.93 billion) from

January to September, a year-on-year increase of 2.07%, and the growth rate

reached 8.48% in the strong third quarter. Adult milk powder continued its

strong growth, leading the segment with its market share rising to 23.9%. The

rapidly growing ice cream business also topped the segment in terms of market

share and reported a revenue of 10.383 billion yuan (approx. USD 1.42 billion).

The achievements are attributable to Yili's strong capabilities in transforming

its key innovation outcomes into top-selling new products. Benefiting from its

digital-oriented upgrading across the entire value chain, the company has seen

significant progress in overall business efficiency which is shaping Yili's new

competitive advantages. While driving robust development in business

performance, Yili's digitalized operation system is also contributing to a

sustainable dairy industry, representing success both commercially and socially.

In upstream segments of the industry, Yili has adopted a recycling-oriented

sustainability model. It has built a number of ecological smart farms that are

equipped with intelligent, low-carbon and eco-friendly facilities. Featuring

full-process unmanned operations, the smart farm system pioneers the industry

in enhancing efficiency and promoting green and sustainable transformation. The

system is also being introduced across China as part of Yili's efforts to

reduce the carbon footprint of the entire dairy industry.

At midstream level, Yili has built five net-zero carbon factories and had 31

factories certified as state-level "green factories". In addition, all of its

factories in China have completed digitalized upgrades. Embracing digital

empowerment and recycling technology, Yili manages to multiply production

efficiency and propel green manufacturing.

Towards the downstream, Yili remains a trendsetter in promoting sustainable

consumption by adopting eco-friendly packaging. Its SATINE Environmentally

Sustainable Packaging with No Ink or Printing won the IDF Dairy Innovation

Award, as a recognition of its innovative solutions for reducing carbon

footprint.

The company's years of efforts in the ESG field have also earned high

recognition from the capital market. In the MSCI ESG Ratings 2023, Yili also

received Grade A rating, the highest among all A-share listed dairy producers.

Source: Yili Group

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   Link: https://iop.asianetnews.net/view-attachment?attach-id=442984

   Caption: Yili reports record high revenue approaching 100 billion yuan in the first

three quarters of FY2023