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Yili Achieves Growth in Operating Revenue and Net Profit in the First Half of 2023

Yili Group 2 mins read
Yili achieves growth in operating revenue and net Pprofit in the first half of 2023.
HOHHOT, China, Sept. 1, 2023 /Xinhua-AsiaNet/--

According to Yili's 2023 H1 report released on August 28, the company's total operating income increased by 4.31% year on year to 66.197 billion yuan and its net profit grew by 2.85% to 6.314 billion yuan in the first half of 2023, setting new records in the dairy industry of Asia.

Yili is also the only Chinese dairy company to have secured a slot in the top rankings of dairy companies worldwide. In Rabobank's 2023 Global Dairy Top 20 published on August 29, Yili remained among the top 5 for the fourth consecutive year, still the only Chinese company to be in the top 5.

One of Yili's strengths lies in its well-balanced business structure as it leads the industry in every category. During the reporting period, the company's liquid milk business registered an operating revenue of 42.423 billion yuan, No. 1 in the industry in terms of both scale and market share; the milk powder and dairy product business raked in 13.521 billion yuan of operating revenue, up 12.01%, leading the whole industry in a gloomy market; ice cream achieved an operating revenue of 9.158 billion yuan, up 25.54%, a far higher growth rate than the industrial average and top of the market segment in terms of both scale and market share.

In overseas markets, Yili has been improving its global supply network which drove the expansion of sales. During the reporting period, Yili's international business continued to deliver two-digit growth in operating revenue, attaining an increase of 19.9%.

It is noteworthy that Yili, as an industrial leader, has adhered to its pursuit of sustainable development in addition to better business results, striving for an excellent integration of commercial value and social value.

In its latest ESG ratings, Morgan Stanley gave Yili a rating of A, the highest among all Chinese dairy companies listed on the A-share market. This result from MSCI, a top ESG rating agency of the world, represents, once again, recognition for Yili's many years of efforts in ESG.

Adhering to its sustainable development strategy for years, Yili has pioneered many good practices in ESG. In pursuit of green and low-carbon development, Yili released the first roadmap towards the "dual carbon" goals in China's dairy industry, achieved carbon peaking in 2012, and committed to attaining carbon neutrality along the whole industrial chain by 2050. It has also delivered the first net zero carbon factory and a number of net zero carbon products, first of their kinds, in China's food industry.

As an industrial leader, Yili has committed to cooperation, innovation, digitalization, and green development. It supports partners upstream and downstream the industrial chain with technology, funding and many other means via a number of incentive-based mechanisms, so that while laying a solid foundation for the dairy industry, Yili and its partners can leverage their respective advantages to achieve the greatest synergy possible across the industrial chain.

Towards the future, Yili, pursuing its New Vision for Value Creation, will join hands with global partners, especially partners along the industrial chain, to create value, share benefits, and move faster towards the goal of becoming the most trusted global healthy food provider.

Source: Yili Group

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