Yili sees net profit growth exceed 30%

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During the period, Yili achieved total operating income of 85.007 billion RMB ($ 13.29 billion) and net profit of 7.967 billion RMB ($ 1.25 billion), an increase of 15.23% and 31.82% year-on-year, respectively. Both indicators hit record highs and earnings growth of over 30% far exceeded expectations.

Pan Gang, President of Yili Group, said, “We will invest more in the tracks focused on new consumer trends and aspire to do our best in each of them. We will also accelerate our digital transformation to increase the overall operational efficiency of the Group, in order to achieve our strategic objectives. “

Sales of new products increased sharply as the brand’s potential began to emerge as a new force supporting Yili’s performance growth. High-growth categories including cheese, mineral water, low-heat milk and formula, all experienced rapid growth.

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 achieved a growth rate of over 30% year-on-year.

The first three quarters also saw a 180% year-over-year increase in total retail sales for the Yili cheese business.

Yili created a digitization team in 2019 and developed its digitization-oriented transformation strategy for the next decade, establishing a roadmap for marketing, products and supply chains.

“Digital transformation must be accelerated to ensure our consumer-centric practice in terms of branding and product innovation. This is Yili’s main task in 2021 “said Pan Gang.

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