Yili Group Reports Record Growth and Strategic Innovation in 2023 Financial Results
Source: The DairyNews
On April 29, Yili Group announced its 2023 financial results, highlighting a record total operating income of 126.179 billion yuan and a net profit of 10.429 billion yuan attributable to the parent company. This achievement extends Yili's track record to 31 years of consistent growth.
Alongside its financial report, Yili revealed plans to repurchase shares worth between 1 billion and 2 billion yuan, with the intention of canceling these shares to reduce the company's registered capital.
Throughout the reporting period, Yili maintained its industry leadership with its diverse product range. The liquid milk segment, a strong performer, recorded revenues of 85.54 billion yuan, sustaining its leading position in terms of scale and market share. The milk powder and dairy products sectors also saw significant growth, with revenues rising 5.09% year-over-year to 27.598 billion yuan, thereby topping the Chinese market. Additionally, Yili’s cold beverage business experienced an 11.72% increase in revenue to 10.69 billion yuan, outpacing the industry average and securing market leadership for the 29th consecutive year.
Internationally, Yili's performance was robust with a 10.08% increase in overseas business income, reaching over 60 countries and regions. Its Cremo and Joyday brands gained considerable traction in Southeast Asia, and Joyday ice cream successfully penetrated the African market.
Yili has also made significant strides in optimizing its global supply chain network, ensuring effective synergy between domestic and international operations. Noteworthy is the commencement of construction on a lactoferrin production facility by Westland Dairy Company Limited, a Yili subsidiary, set to become one of the top three global producers upon completion.
Technological innovation was a key theme in 2023, with Yili achieving major breakthroughs such as the development of a unique lactoferrin directional extraction and protection technology. This innovation boosted lactoferrin retention in UHT milk from 10% to over 90%. Additionally, Yili overcame challenges related to probiotic inactivation at ambient temperatures, pioneering new consumption scenarios for yogurt.
Leveraging its technological leadership, Yili launched new products like SATINE Active Lactoferrin Organic Milk and Ambpomial AMX Probiotic Yogurt, driving fresh growth avenues for the company.
These advances are supported by Yili's sustained investment in technology. On the tenth anniversary of the Yili European Innovation Center, celebrated at Wageningen University in the Netherlands, the company announced upgrades and the establishment of the Global Maternal and Child Nutrition Research Center. The Innovation Center has been instrumental in advancing research in breast milk, probiotics, and innovative dairy technologies.
As a market leader, Yili is committed not only to business excellence but also to sustainable development. The company actively promotes environmental protection and social welfare, striving to harmonize economic, social, and environmental benefits.
Throughout the reporting period, Yili maintained its industry leadership with its diverse product range. The liquid milk segment, a strong performer, recorded revenues of 85.54 billion yuan, sustaining its leading position in terms of scale and market share. The milk powder and dairy products sectors also saw significant growth, with revenues rising 5.09% year-over-year to 27.598 billion yuan, thereby topping the Chinese market. Additionally, Yili’s cold beverage business experienced an 11.72% increase in revenue to 10.69 billion yuan, outpacing the industry average and securing market leadership for the 29th consecutive year.
Internationally, Yili's performance was robust with a 10.08% increase in overseas business income, reaching over 60 countries and regions. Its Cremo and Joyday brands gained considerable traction in Southeast Asia, and Joyday ice cream successfully penetrated the African market.
Yili has also made significant strides in optimizing its global supply chain network, ensuring effective synergy between domestic and international operations. Noteworthy is the commencement of construction on a lactoferrin production facility by Westland Dairy Company Limited, a Yili subsidiary, set to become one of the top three global producers upon completion.
Technological innovation was a key theme in 2023, with Yili achieving major breakthroughs such as the development of a unique lactoferrin directional extraction and protection technology. This innovation boosted lactoferrin retention in UHT milk from 10% to over 90%. Additionally, Yili overcame challenges related to probiotic inactivation at ambient temperatures, pioneering new consumption scenarios for yogurt.
Leveraging its technological leadership, Yili launched new products like SATINE Active Lactoferrin Organic Milk and Ambpomial AMX Probiotic Yogurt, driving fresh growth avenues for the company.
These advances are supported by Yili's sustained investment in technology. On the tenth anniversary of the Yili European Innovation Center, celebrated at Wageningen University in the Netherlands, the company announced upgrades and the establishment of the Global Maternal and Child Nutrition Research Center. The Innovation Center has been instrumental in advancing research in breast milk, probiotics, and innovative dairy technologies.
As a market leader, Yili is committed not only to business excellence but also to sustainable development. The company actively promotes environmental protection and social welfare, striving to harmonize economic, social, and environmental benefits.
