Yili Reports 11.37% Revenue Growth to RMB 123.2 Billion in FY2022 and Promotes Sustainable Growth of the Global Industrial Chain
HUHHOT, China, May 4, 2023 /PRNewswire/ -- On April 27, Yili Group released its annual report for 2022. According to the report, Yili's total revenue and net profit reached RMB 123.171 billion ($17.8 billion) and RMB 9.431 billion ($1.36 billion), up by 11.37% and 8.34% year-on-year, respectively. With both its total revenue and net profit reaching record highs, Yili continued to lead the Asian dairy industry in FY2022.
The 2023 Q1 report released on the same date shows that Yili has continued to lead the industry's recovery by delivering steady growth. The company generated a total revenue of RMB 33.441 billion ($4.83 billion) and a net profit of RMB 3.615 billion ($0.52 billion), representing year-on-year growth of 7.71% and 2.73%, respectively.
Win-win development for industry partners
For over a decade, Yili has been carrying out industrial chain financing to minimize the operational risks for its industry partners. By the end of 2022, the company had extended financial support to 10,974 pastures and stores, providing RMB 118.16 billion ($17.08 billion) in total financing.
In overseas markets, the Group's subsidiary Oceania Dairy has signed milk source purchase contracts with 73 local farms in New Zealand, providing stable and competitive prices for milk suppliers.
Continuous support for green development
In today's world, with the importance of green development having become recognized worldwide, Yili has established itself as a pioneer in green and zero-carbon initiatives and continuously explored new models for reducing carbon emissions.
Committed to achieving carbon neutrality across its entire industrial chain by 2050, Yili has not only established the first zero-carbon food factory in China but also developed products that are more eco-friendly and lower-carbon for consumers.
By the end of 2022, Yili had implemented a total of 1,049 energy-saving and emission-reduction projects and had 31 factories certified as state-level "green factories." On a global scale, Yili Group founded the Net-Zero Carbon Alliance with 43 international key partners, with the aim of jointly developing solutions for carbon reduction and sharing insights about the progress being made.
Localization in global markets speeds up
As Yili expands into overseas markets, the Group has actively integrated itself into local communities, takes the initiative to fulfill its corporate social responsibilities.
In Indonesia, the company's Joyday ice cream has become one of the top four ice cream brands in the region. Besides, 85% of the raw and auxiliary materials used at the base are now sourced from local suppliers.
In New Zealand, Yili Group completed a comprehensive upgrade of its Westland Milk Products in 2022. Westland Milk Products has now increased its production capacity for high-quality grass-fed butter to 42,000 tons per year, making it the largest butter facility on the west coast.
In 2022, Yili achieved significant growth in its overseas business revenue, registering a growth rate of 52.2%.
(USD 1 ≈ RMB 6.92)
SOURCE Yili Group
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