CHINA- Yili Group, a leading player in the dairy industry, has unveiled its impressive 2023 financial results, showcasing record-breaking total operating income and net profit.
With total operating income reaching 126.179 billion yuan and a net profit of 10.429 billion yuan attributable to the parent company, Yili Group has achieved an unparalleled 31 years of consistent growth.
Alongside its financial success, Yili announced plans to repurchase shares worth between 1 billion and 2 billion yuan, aiming to reduce the company’s registered capital.
Throughout 2023, Yili maintained its industry leadership with a diverse product portfolio, achieving remarkable growth across various segments.
The liquid milk sector, in particular, emerged as a strong performer, securing its leading position with revenues totaling 85.54 billion yuan.
The milk powder and dairy products sectors also experienced substantial growth, surpassing the Chinese market with revenues rising by 5.09% year-over-year to 27.598 billion yuan.
Additionally, Yili’s cold beverage business witnessed an impressive 11.72% revenue increase to 10.69 billion yuan, outpacing industry averages and maintaining market leadership for the 29th consecutive year.
Internationally, Yili demonstrated robust performance with a 10.08% increase in overseas business income, spanning across 60 countries and regions.
Brands like Cremo and Joyday gained significant traction in Southeast Asia, while Joyday ice cream successfully penetrated the African market.
Yili also made significant strides in optimizing its global supply chain network, with notable progress seen in the commencement of construction on a lactoferrin production facility by its subsidiary, Westland Dairy Company Limited.
Technological innovation remained a cornerstone of Yili’s strategy in 2023, marked by breakthroughs such as the development of unique lactoferrin directional extraction and protection technology.
This innovation significantly boosted lactoferrin retention in UHT milk, opening new avenues for product development.
The company also tackled challenges related to probiotic inactivation at ambient temperatures, leading to the creation of innovative consumption scenarios for yogurt.
Capitalizing on its technological prowess, Yili launched new products like SATINE Active Lactoferrin Organic Milk and Ambpomial AMX Probiotic Yogurt, driving fresh growth opportunities.
The company’s sustained investment in technology was further underscored by upgrades and the establishment of the Global Maternal and Child Nutrition Research Center at the Yili European Innovation Center.
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