KUALA LUMPUR: Yili Group’s net profit for the first three quarters of the year (FY2023) rose by 16.36 per cent to 9.38 billion Chinese yuan, from a year ago, driven by a continuous improvement in the company’s core business capabilities.
The company’s revenue amounted to 97.404 billion Chinese yuan (approximately US$13.32 billion), a year-on-year (yoy) increase of 3.77 per cent. (US$1=RM4.75)
In a statement, the Asian dairy giant said it continued to step up the application of research and development (R&D) outcomes, evidenced by the launch of a series of innovative healthy products that have received positive feedback from consumers.
In terms of business units, Yili’s liquid milk business secured its leading position in the segment with accelerated growth, with a reported revenue of 65.432 billion Chinese yuan (approximately US$8.93 billion) from January to September, a yoy increase of 2.07 per cent, and the growth rate reached 8.48 per cent in the strong third quarter.
Adult milk powder continued its strong growth, leading the segment with its market share rising to 23.9 per cent, while the rapidly growing ice cream business also topped the segment in terms of market share and reported a revenue of 10.383 billion Chinese yuan (approximately US$1.42 billion).
The achievements are attributable to Yili’s strong capabilities in transforming its key innovation outcomes into top-selling new products. Benefitting from its digital-oriented upgrading across the entire value chain, the company has seen significant progress in overall business efficiency which is shaping its new competitive advantages.
While driving robust development in business performance, its digitalised operation system is also contributing to a sustainable dairy industry, representing success both commercially and socially.
In upstream segments of the industry, Yili has adopted a recycling-oriented sustainability model, and has built a number of ecological smart farms that are equipped with intelligent, low-carbon and eco-friendly facilities.
Meanwhile, at midstream level, the company has built five net-zero carbon factories and had 31 factories certified as state-level “green factories”, as well as all of its factories in China have completed digitalised upgrades.
Towards the downstream, Yili remains a trendsetter in promoting sustainable consumption by adopting eco-friendly packaging, to reduce carbon footprint.– BERNAMA
