Dairy giant Yili shows strong performance in H1
Dairy giant Yili continues to move from strength to strength. It posted a total operating income of 47.528 billion yuan in the first half of 2020. [Photo provided to chinadaily.com.cn]
Dairy giant Inner Mongolia Yili Industrial Group Co – based in Hohhot, North China’s Inner Mongolia autonomous region – showed strong performance in the first half of 2020, according to numbers recently posted by the company.
Yili reported a total operating income of 47.528 billion yuan ($6.896 billion) in the first half of 2020, a year-on-year growth of 5.45 percent. After deducting non-recurring gains and losses during the period, the net profit was 3.766 billion yuan, a year-on-year increase of 7.02 percent.
The latest figures capped off a consistently strong run by the company, ranking Yili first in the Asia dairy industry in terms of total operating income, net profit, market share and total asset turnover.
The latest data shows that Yili's current production and sales have now fully recovered in the wake of the COVID-19 outbreak – revealing a rapid rebound far exceeding its industry and underscoring the company's ability to ride out challenging situations.
Yili's dairy products are proving increasingly attractive to consumers. They experienced strong sales in the first half of 2020. [Photo provided to chinadaily.com.cn]
While adhering to quality standards, Yili is also continuously promoting a big, multi-category and healthy layout through its innovation strategy. To ramp up its corporate development, Yili has placed a great deal of emphasis on innovation.
In the first half of 2020, Yili successively launched new, high-quality health and nutrition products to serve global consumers. New product sales revenue accounted for 15.3 percent of Yili's total sales revenue during the reporting period.