Xinhua Silk Road: Chinese dairy firm Yili sees surging revenue, profits in Q2

BEIJING, Aug. 28, 2020 /PRNewswire/ — Inner Mongolia Yili Industrial Group Co., Ltd., one of the Chinese dairy giants, generated a revenue of 26.88 billion yuan in the second quarter of this year, up 22.49 percent year on year, the company announced on Thursday.

Yili products
Yili products

Yili also reported a 79.28-percent year-on-year growth in net profits after deducting non-recurring gains and losses in Q2, which reached 2.397 billion yuan.

Driven by the strong performance in Q2, Yili’s performance in the first half of the year showed a stronger-than-expected growth and its key indicators, such as revenue, net profit and total asset turnover, still ranked among the highest in the Asian dairy industry. 

From January to June, the company saw its revenue reach 47.528 billion yuan, with the net profits after deducting non-recurring gains and losses of 3.766 billion yuan.

The sudden coronavirus pandemic is not only a crisis but also a test for all companies, said Pan Gang, chairman and president of Yili, adding that Yili withstood the test and showed strong growth momentum amid its continuous efforts to strengthen the company’s core competitive advantages and anti-risk capabilities.

With an emphasis on quality and innovation to create healthy products, Yili has long been committed to promoting quality management and gathering all the production power to safeguard consumer safety.

In the Southeast Asian market, the company just took over one year to assist its subsidiary Chomthana in winning the "2020 FDA Quality Award" issued by Thai Food and Drug Administration (FDA) after Yili officially acquired Chomthana last year.

Besides, Yili is also accelerating the development of new retail models with an aim to further leverage its channel advantages to provide consumers with more convenient and faster shopping experience and services. Data show that in the first half of 2020, Yili’s revenue from e-commerce business increased by 49 percent year on year.

In the future, Yili will adhere to the corporate belief that "Yili represents quality", actively explore new businesses, establish new models, and lead the development of the dairy industry with high-quality, healthy and sustainable business concepts in an attempt to realize its version of becoming the world’s most trusted health food provider.

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