KUALA LUMPUR: Yili Group net profit for the first half of the year (2023 H1) grew by 2.85 per cent to 6.314 billion Chinese yuan, setting new records in the dairy industry of Asia.
Its total operating income increased by 4.31 per cent year on year to 66.197 billion Chinese yuan.
This is according to its 2023 H1 report released on Aug 28, making Yili the only Chinese dairy company to have secured a slot in the top rankings of dairy companies worldwide.
Meanwhile, in Rabobank’s 2023 Global Dairy Top 20 published on Aug 29, Yili remained among the top five for the fourth consecutive year, still the only Chinese company to be in the top five.
According to Yili in a statement, one of its strengths lies in the company’s 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 Chinese yuan; the milk powder and dairy product business raked in 13.521 billion Chinese yuan of operating revenue; and ice cream achieved an operating revenue of 9.158 billion Chinese yuan.
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 per cent.
Furthermore, in its latest environmental, social and governance (ESG) ratings, Morgan Stanley gave Yili a rating of A, the highest among all Chinese dairy companies listed on the A-share market, in which this result represents, once again, recognition for Yili’s many years of efforts in ESG.
Committed to cooperation, innovation, digitalisation and green development, Yili supports partners upstream and downstream the industrial chain with technology, funding and many other means via a number of incentive-based mechanisms.
Towards the future, Yili is pursuing its New Vision for Value Creation by joining 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. – BERNAMA
