Chinese dairy firm Yili has reported a 4.31% year-on-year increase in operating income to 66.197 billion yuan (€8.4 billion), while net profit grew by 2.85% to 6.314 billion yuan (€810 million) in the first half of its financial year.
In this period, Yili's liquid milk business registered an operating revenue of 42.423 billion yuan (€5.4 billion) – the highest in terms of scale and market share, the company added.
The company's milk powder and dairy product business generated an operating revenue of 13.521 billion yuan (€1.7 billion), up 12.01% year on year.
Operating revenue in its ice cream business amounted to 9.158 billion yuan (€1.2 billion), growing by more than a quarter (up 25.54%) and ahead of the industrial average and top of the market segment in terms of scale and market share.
Yili's international business continued to deliver double-digit growth in operating revenue (up 19.9%), driven by an improved global supply network.
Other Highlights
According to Rabobank's annual Global Dairy Top 20 report, which showcases the performance of the top companies in one of the world's most valuable food sectors, the dairy group emerged as the fifth-largest dairy company globally.
Morgan Stanley gave Yili a rating of A in its latest ESG ratings. It is the highest among all Chinese dairy companies listed on the A-share market.
The rating recognises many years of efforts made by the company in ESG.
These include releasing the first roadmap towards the 'dual carbon' goals in China's dairy industry, achieving carbon peaking in 2012, and pledging to attain carbon neutrality along the whole industrial chain by 2050.
In the first quarter, the dairy giant reported a 11.37% increase in revenue, to RMB 123.171 billion (€16.1 billion) in its 2022 financial year, which it said was a 'record high' for the business.
