Yili ranked top dairy firm in Asia
Chinese dairy giant Yili has again made it into the Global Dairy Top 20 rankings recently released by the Netherlands-based Rabobank, a provider of financial services for the food and agribusiness sectors. Yili has made the rankings every year since 2014.
The 2018 rankings leave Yili as the largest dairy firm in Asia for four years in a row.
Companies are ranked based on overall turnover, putting Yili in ninth place, with turnover reaching 68.06 billion yuan ($9.95 billion) in 2017, representing a 12.29 percent increase from a year earlier.
With its brand value increasing 43 percent over the past year, the group also recently made the lists released by international brand consultancy Interbrand and Brand Finance.
The dairy industry is becoming more global in scope, according to Rabobank's report, noting that milk production and processing was taking place more locally than in the past.
But with increasing demand for dairy products, firms are being forced to become more focused on the demands of consumers across the world, with the report noting that Yili was stepping up to the challenge.
As the Chinese economy undergoes major changes, Yili has seized new opportunities through innovation and new products.
Yili's research and development network covers Asia, Europe, Oceania and the Americas and it has carried out multilevel cooperation projects with its global partners, with the aim of making technological breakthroughs and diversifying its products.
New products such as "Joy Day" have been among the highlights of 2017. The group also expanded its product line, launching a soybean milk at the end of 2017.
Data from Kantar Worldpanel, a marketing consultancy revealed that the purchase amount of Yili's products reached 1.35 billion times last year, and the group enjoyed a leading consumer penetration rate.
With an emphasis on sustainable development, the dairy producer has also focused on quality control.
In partnership with leading quality control companies, including Switzerland-based SGS, Lloyd's Registered Quality Assurance (LRQA) and Intertek in the UK, it has continued to upgrade the group's quality control and management system as well as its industrial chains.
Yili has previously stated that it wants to become one of the top five global dairy producers, and earn annual revenues of more than 100 billion yuan.
Song Liang, a Chinese dairy expert, noted that the group's presence in global rankings demonstrates its determination to reach this goal.
To move further up the list, the group will continue to play a more active role in the global dairy market through further participation in industry governance.
A billboard advertises Yili Group at a subway station in Guangzhou, South China's Guangdong province [Photo provided to China Daily]