Consumer Staples Author: Yiru Qian Apr 28, 2022 05:38 PM (GMT+8)

It is the first dairy company in Asia with revenue over CNY 100 billion

Yili Annual Report

Chinese dairy producer Inner Mongolia Yili Industrial Group Co., Ltd (hereinafter referred to as “Yili”) (600887:SH) documented a revenue of CNY 110.1 billion in the fiscal year of 2021, up 14.11%; the net income achieved CNY 8.7 billion, up 22.98%.

Among which, the powdered milk and dairy products booked an increase of 25.8% year-on-year to CNY 16.209 billion; the Ace product PRO-KIDO contributed over CNY 10 billion in profits. The revenue of the cold beverage business in 2021 was CNY 7.161 billion, representing an increase of 16.28% year-on-year.

"With the accelerated layout of high-margin categories such as powdered milk and cheese products, the trend towards improved profitability is becoming increasingly prominent for Yili,” said a working staff.

According to the quarterly financial report released on the same day April 27, Yili reported a revenue of CNY 30.9 billion in the first quarter of 2022, up 13.41%. The net income increased by 24.32% to CNY 3.5 billion.

Yili’s total revenue in 2022 will be expected to reach CNY 123.7 billion per Wind; the net income attributed to shareholders will be about CNY 10.85 billion.

According to Nielsen, a leading data and market measurement firm, the market share of Yili’s infant formula powdered milk increased by 1.4% year-on-year, ranking first in the market in terms of growth rate. Its adult formula products topped the market, which grew by 2.2% year-on-year; and the figure for the cheese business also witnessed a leap of 6.3%.

The domestic competitive rivals include Mengniu Diary (2319:HK), Sanyuan Group (600419:SH), Feihe Limited (6186L:HK), and Yashili Group (1230:HK).