Skip to content
International News

Yili Reports Record High Revenue Approaching 100 Billion Yuan in the First Three Quarters of FY2023

Yili Group 2 mins read
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

Media

More from this category

  • CharitiesAidWelfare, International News
  • 05/02/2025
  • 10:00
Monash University

Monash expert: Trump and Musk move to shut down USAID

The Trump administration has locked US Agency for International Development (USAID) workers out of their headquarters as it moved to shut the agency, which distributes billions of dollars of humanitarian aid around the world. USAID has been targeted for closure by billionaire Elon Musk, who has been tasked by Trump with downsizing the federal government. Available for comment: Dr Nicholas Ferns, School of Philosophical, Historical and International Studies (SOPHIS)Contact: +61 0416 028 594 or nicholas.ferns@monash.edu The following can be attributed to Dr Ferns: “Foreign aid is an easy target for cost cutting. It has no domestic constituency, and its visible…

  • Information Technology, International News
  • 31/01/2025
  • 10:34
Charles Darwin University

CDU EXPERT: Academic tests if DeepSeek and ChatGPT can help fight disinformation-fueled radicalisation

31 JANUARY, 2025 Who: Charles Darwin University forensic linguistics expert Dr Awni Etaywe is a lecturer in linguistics and a forensic linguistics researcher focusing on terrorism, incitement to hatred, radicalisation and genocide, and digital deviance. Dr Etaywe fed sections from a far-right, white supremacist violent extremist manifesto to DeepSeek and ChatGPT and compared and contrasted their effectiveness in flagging disinformation tactics. Contact details: Call +61 8 8946 6721 or email media@cdu.edu.au to arrange an interview. Quotes attributable to Dr Etaywe: “Although some may see both ChatGPT and DeepSeek in a kind of AI race between the US and China, the…

  • Business Company News, International News
  • 29/01/2025
  • 09:00
The Victorian Chamber of Commerce and Industry

Support the launch of registrations for the 14th World Chambers Congress

We are excited to announce that registrations for the 14th World Chambers Congress (14WCC) are now officially open! Dubbed the ‘Business Olympics,’ this prestigious event, co-organised by the World Chambers Federation (WCF) of the International Chamber of Commerce (ICC) and the Victorian Chamber of Commerce and Industry (VCCI), will take place in Melbourne, Australia, from 2 to 4 September 2025. We are reaching out to seek your support in promoting this significant milestone—the launch of registrations—and helping us maintain momentum through regular updates and correspondence leading up to the event. Attached, you will find: The media release promoting the launch…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.