Yili's revenue up 17.1 % in Q1
Chinese dairy company Yili Group reports a 17.1 percent year-on-year increase in revenue in Q1 this year. [Photo/Yili Group]
China's largest dairy producer, Inner Mongolia Yili Industrial Group Co Ltd, posted a 17.1 percent year-on-year increase in revenue over the first three months of this year, according to the financial report it released on April 25.
Yili said its revenue reached nearly 23.13 billion yuan ($3.43 billion) in the first quarter, with a net profit of 2.28 billion yuan.
Its strong performance over the first three months brings the company closer to its goal of 90 billion yuan in revenue in 2019.
In 2018, the company earned nearly 80 billion yuan in revenue, and 6.45 billion yuan in net profit, consolidating the firm's position as the top dairy company in Asia.
Pan Gang, chairman of the company, said that Yili's growth is a result of its continuous efforts to utilize global personnel and techniques, enhance its products, and improve its industrial chain.
Over the past several years, Yili has launched a variety of products including energy drink Huanxingyuan, soy milk Planted Selected, and even a brand of bottled mineral water. These products have shown popularity among consumers throughout China.
“In this rapidly changing and increasingly competitive environment, Yili Group has led the country in integrating resources and meeting consumer demands, making great contributions to the reshaping of the market landscape,” said Shen Meng, executive chairman of Chanson Capital.
For years, the company has been establishing close relationships with ranches and dealers, providing it with a solid foundation for furthering its development.