Yili Group ranks among Top 500 Chinese Enterprises
Yili's products have been well received by consumers at home and abroad. [Photo provided to chinadaily.com.cn]
Inner Mongolia Yili Industrial Group Co Ltd (Yili Group), a leading dairy company based in Hohhot, North China's Inner Mongolia autonomous region, is one of the Top 500 Chinese Enterprises of 2020, according to a list released on Sept 28.
The list, co-selected by China Enterprise Confederation and China Enterprise Directors Association, uses a company's actual scale and revenue capacity as important indicators and has been successfully run for 19 consecutive years.
Yili Group also ranked among the top five dairy producers worldwide in the Rabobank 2020 Global Top 20 Dairy Report released on Aug 31, setting a new record for Asian dairy companies.
Yili Group's insistence on high-quality development has not only won authoritative recognition, but also won the favor of more and more consumers.
Yili has established a strict global quality management system, with more than 1,000 inspection items, covering raw milk, raw and auxiliary materials and various products.
On Sept 25, the internationally-renowned third-party independent inspection and certification organization -- Lloyd's Register Quality Assurance -- granted the QbD certification to Yili's milk powder division. It was the first QbD certification granted in the food industry.
Yili reported a total operating income of 47.53 billion yuan ($6.98 billion) in the first half of 2020, a year-on-year growth of 5.45 percent. After deducting non-recurring gains and losses during this period, its net profit was 3.77 billion yuan, a year-on-year increase of 7.02 percent.
While adhering to quality standards, Yili is also continuously promoting a big, multi-category and healthy structure 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 products accounted for 15.3 percent of Yili's total sales revenues during the reporting period.
The latest figures capped off a consistently strong run by the company, with Yili ranking first in the Asia dairy industry in terms of total operating income, net profits, market share and total asset turnover.