Monday, 25 March 2019

China's Yili witnesses growth in 2018

06 March 2019 | News

Yili has boasted three kinds of product series each with sales exceeding 10 billion yuan

China's dairy giant, Inner Mongolia Yili Industrial Group Co., Ltd., continued taking the lead in the Asian dairy market with its net profits in 2018 standing at 6.452 billion yuan, according to its financial results for 2018 unveiled recently. It registered revenues of nearly 80 billion yuan in 2018, up 16.89 percent year-on-year.

Guided by its forward-looking strategies, Yili remains committed to the "top quality" strategy. With the goal of innovation, and serving and satisfying consumers, the company has been proactively promoting sustainable and healthy growth of its businesses.

As of December 2018, the market penetration rate of Yili's room-temperature liquid dairy products had reached 82.3 percent, up 2.2 percentage points from the previous year, according to Kantar's research data.

Data shows that in 2018, Yili directly controlled nearly 608,000 village-level outlets in China, up 14.7 percent year on year.

Against the background of intensifying industrial competition, the company has upgraded its product mix and seen an increasing market share.

At present, Yili has boasted three kinds of product series each with sales exceeding 10 billion yuan. For example, sales of Ambrosial, a Greek-Style yoghurt product under Yili, has hit a new high and exceeded 14 billion yuan.

Yili strove to develop healthy food products in 2018, including soymilk "Plant Selected" featuring vegetable protein, energy drink "Huanxingyuan", and fresh string cheese "Wonderful Cheese".

Yili has launched the Changbai Mountain natural mineral water project, helping it step into the big health sector, and once again emerge as an industrial leader with distinctive competitive edges.

In addition, while upgrading its innovation center in Europe, Yili has also expanded its presence into Southeast Asia to further enhance its brand influence across the globe.

A securities report noted that in 2019, Yili will continue to foster new product categories and seek to reap considerable revenue and profit increase in the medium and long-term.

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