Yili Group Achieves Record Revenue in 2023,Leads Global Dairy Industry

Yili Group reports 2023 revenue of 126.179 billion yuan, marking 31 consecutive years of growth. The company's success is driven by industry-leading products, overseas business growth, and innovative technological advancements.

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Aqsa Younas Rana
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Yili Group Achieves Record Revenue in 2023,Leads Global Dairy Industry

Yili Group Achieves Record Revenue in 2023,Leads Global Dairy Industry

On April 29, Yili Group, a leading dairy company, released its 2023 financial report, showcasing a remarkable total operating income of 126.179 billion yuan and a net profit attributable to the parent company of 10.429 billion yuan. This achievement marks 31 consecutive years of steady growth for the company, solidifying its position as a leader in the global dairy industry.

Why this matters: Yili's record-breaking revenue has significant implications for the global dairy industry, as it sets a new benchmark for sustainable and healthy development. As a leading dairy company, Yili's success can influence industry trends and drive innovation, ultimately benefiting consumers and the environment.

Yili's success can be attributed to its industry-leading products, overseas business growth, and innovative technological advancements. The company's liquid milk business generated an operating income of 85.54 billion yuan, maintaining its top position in both scale and market share. Milk powder and dairy products recorded 27.598 billion yuan in revenue, up 5.09% year on year, with overall milk powder sales rising to the top of the Chinese market. The cold beverage business also performed well, with an operating income of 10.69 billion yuan, up 11.72% from the previous year, far exceeding the industrial average growth rate.

Overseas business played a significant role in Yili's growth, with income increasing by 10.08% year on year and products sold to over 60 countries and regions. Cremo and Joyday products gained significant popularity in Southeast Asia, while Joyday ice cream made a strong entry into Africa.

Yili has continuously improved and optimized its global supply chain network, achieving efficient synergy between its domestic and overseas bases. The company has made breakthroughs in cutting-edge technologies, quickly translating these innovations into products that have set new trends in healthy consumption. One notable achievement was the development of a unique lactoferrin directional extraction and protection technology, which increased the lactoferrin retention rate in UHT milk from 10% to over 90%.

As an industry leader, Yili emphasizes sustainable development, actively promoting green practices, environmental protection, and public welfare. The company strives to create a win-win situation in economic, social, and environmental benefits. In addition to its impressive financial performance, Yili Group also announced a plan to repurchase shares worth no less than 1 billion yuan but no more than 2 billion yuan. These shares will be entirely canceled to reduce the company's registered capital.

Yili Group's record-breaking revenue in 2023 demonstrates the company's commitment to leading the global dairy industry towards healthy and sustainable development. With its industry-leading products, overseas business growth, innovative technological advancements, and sustainable development initiatives, Yili is poised to continue driving the industry forward.