Yili releases third quarter financial results
Yili Industrial Group Co Ltd (Yili Group), one of China's leading dairy companies, earned total revenue of nearly 68.68 billion yuan ($9.78 billion) and a net profit of 5.65 billion yuan in the first three quarters of 2019, a year-on-year profit increase of 11.73 percent, according to the group's third quarter report released on Oct 30.
According to the report, Yili is the largest dairy company and owns the most complete production line in China’s dairy industry.
The company provided high quality products for both the Beijing Olympics Games in 2008 and the Shanghai World Expo in 2010. In 2017, Yili became the official dairy enterprise to partner with the organizing committee of the Olympic Winter Games to be held in Beijing in 2022.
In 2018, the company earned nearly 80 billion yuan in revenue for the full year, and 6.45 billion yuan in net profit, becoming one of the top dairy companies in Asia.
These numbers highlighted Yili's strong growth momentum and potential for sustainable development, according to Pan Gang, CEO of the company.
Pan said that Yili's growth was the result of its continuous efforts to utilize global expertise and technologies, enhance its products and improve its supply chains.
Over the past few years, Yili has launched a variety of products -- including energy drink Huanxingyuan and soy milk Planted Selected -- and even a brand of bottled mineral water. The company said that these products had gained great popularity among consumers throughout China.
A Yili executive said that its business development is closely bound to its overall responsibilities. For the company, being a leader in the industry also meant that it should take on more social responsibilities, he added.
He said Yili would continue to play a larger role in global markets, offering more diverse products to international consumers.
The latest results show that Yili continues to ride the crest of a growth wave. The company reported full year revenue of nearly 80 billion yuan in 2018, and 6.45 billion yuan in net profit, becoming one of the top dairy companies in Asia. [Photo provided to chinadaily.com.cn]