01.11.2021 – 19:43
Yili Group (China)
Hohhot, China (ots/PRNewswire)
On October 28, 2021, Yili Group released its financial results for the first three quarters of 2021. During the reporting period, Yili posted total sales of 85.007 billion RMB and net income of 7.967 billion RMB, an increase of 15.23% and 31, 82% compared to the previous year. Both indicators hit record highs, and earnings growth of more than 30% far exceeded expectations.
Yili’s net income for the first three quarters surpassed last year’s, signaling a fresh outlook on the company’s growth prospects. The results also suggest that Yili is now expected to be the first dairy company in Asia to achieve sales of over RMB 100 billion.
Pan Gang, chairman of Yili Group, said, “We will invest more in the stocks that focus on new consumer trends and we want to do our best in each of these stocks. We will also accelerate our digital transformation to cover the whole operational To increase the efficiency of the group and thus to achieve our strategic goals. “
Stable growth in core products as new growth drivers emerge
Yili continued to excel as a leader in the liquid milk, ice cream and other product market. Yili Satine Bio-Milch, AMBPOMIAL and Changqing have secured first place in their respective market segments.
New product sales have soared, with brand potential gradually emerging as the new force supporting Yili’s performance growth. The high-growth categories include cheese, bottled water, low-temperature milk, and infant formula, all of which are growing rapidly.
Yili’s Xinhuo adult milk powder led the market segment in terms of sales volume, while Jinlingguan was the fastest growing infant formula brand in the Chinese market. In the first three quarters of 2021, Yili’s infant formula category grew by more than 30% year over year.
Yili has now covered the most important cheese consumption scenarios. For the first three quarters, total retail sales in Yili’s cheese store increased 180% year over year.
Strengthening the leadership position in baby food and entering the market for nutritional products
Yili has been proactively expanding the categories and strategic collaboration since early 2021.
On October 27, 2021, Yili merged with leading goat milk company Ausnutria Dairy and became its largest shareholder. Ausnutria also has a comprehensive layout for nutritional products and has been licensed with the Chinese Quality Mark for Health Products. This will greatly facilitate Yili’s future expansion in the healthy food market.
Digitization enables industry to improve operational efficiency
Yili has set up a dedicated team for digitization since 2019 and developed a digitization-oriented transformation strategy for the next decade that provides a roadmap for marketing, products and supply chains.
“The digital transformation should be accelerated to ensure our consumer-centric practice in terms of branding and product innovation. This is the most important task for Yili in 2021,” said Pan Gang.
Original content by: Yili Group (China), transmitted by news aktuell