KUALA LUMPUR, Nov 15 (Bernama) -- Yili Group has released its financial results for the first three quarters of 2021.
During the period, Yili achieved a total operating revenue of RMB 85.007 billion and a net profit of RMB 7.967 billion, representing a year-on-year increase of 15.23 per cent and 31.82 per cent, respectively. (RMB 100 = RM65.16)
Both indicators reached a record high, and the profit growth of more than 30 per cent far outstripped expectations, according to a statement.
Yili's net profit in the first three quarters has exceeded that of last year, signaling a new outlook for the company's growth prospects. The performance also indicated that Yili is now expected to become the first dairy company in Asia to exceed RMB 100 billion in revenue.
Yili has continued to stand out as the pacesetter of the market in liquid milk, ice cream, and other products. Yili Satine Organic Milk, AMBPOMIAL, and Changqing have clinched first place in their respective market segments.
In addition, new product sales have risen strongly, with brand potential beginning to emerge as the new force underpinning Yili's performance growth. High-growth categories, including cheese, mineral water, low-temperature milk, and milk formula, have all sustained rapid growth.
Yili's Xinhuo adult milk powder has led the market segment in sales volume, while Jinlingguan has been the infant formula brand which has seen the most rapid growth in China's market.
The company has proactively enriched categories and its strategic cooperation since the beginning of 2021. On Oct 27, Yili joined hands with goat milk leader Ausnutria Dairy and became the latter's largest shareholder.
It has also established a dedicated team working in digitalisation since 2019 and has developed its digitalisation-oriented transformation strategy for the next decade, laying out a roadmap for marketing, products and supply chains.
-- BERNAMA
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