Yili Group Listed Among the 2023 Forbes China Globalization Innovators Selection Top 30 Brands
SHANGHAI, Jan. 30, 2024 /PRNewswire/ -- On January 26, 2024, the first Forbes China Globalization Innovators Selection 30&30 award ceremony was held in Shanghai. During the ceremony, the 2023 Forbes China Globalization Innovators Selection Top 30 Brands were announced, including Leading Brands and Pioneering Brands which were selected based on a comprehensive analysis of their global growth, brand influence, innovation strength, and financial performance. Yili Group is the only dairy company that has been named a Leading Brand, which is an acknowledgement of the Group's global strategy that has set a benchmark for the globalization of Chinese dairy enterprises.
Ranked among the Global Dairy Top 5 and recognized as the No. 1 dairy brand in Asia, Yili has been adhering to the principle of "global mindsets and local operations", through pursuing innovation and internationalization as two driving for its global expansion.
With a consumer-centric focus, Yili has now put into place a network comprising a global resource system, a global innovation system and a global market system in regions where the dairy industry is well-developed, covering Asia, Europe, the Americas, and Oceania. It is committed to providing higher quality products and services through the network. At present, a number of Yili's bestselling products, including AMBPOMIAL, Youngfun, Cremo ice cream, Joyday ice cream, and Westgold butter, are gaining popularity worldwide.
Driven by the pursuit of innovation and transformation, Yili has established 15 R&D centers jointly operated with Wageningen University, Lincoln University and many other globally renowned universities, research institutes, and organizations. As of December 2022, Yili ranked second among the top 10 global dairy producers in terms of total patent applications and invention applications.
Yili is also a winner of various global innovation awards. At the 2023 IDF World Dairy Summit, Yili was the sole Chinese dairy producer honored with two IDF Dairy Innovations Awards – the most prestigious awards in the industry. At the 16th Global Dairy Congress, Yili was nominated for 18 World Dairy Innovation Awards, leading the industry worldwide.
Supported by its internationalization strategy, Yili has made a historic breakthrough from being the No. 1 dairy company in China to becoming the Top 5 in the global dairy industry. In 2023, Yili Group reported record high revenue of 97.404 billion yuan (approx. USD 13.32 billion) and a 16.36% growth in net profit to 9.380 billion yuan (approx. USD 1.28 billion) in the first three quarters. In the same year, Brand Finance unveiled the Diary 10 2023 league table, in which Yili registered a year-on-year surge of 17% in value and topped the list for the fourth consecutive year.
As a leader in the Chinese dairy industry, Yili will make continued efforts to strengthen its global competitiveness, and achieve its corporate vision of becoming the most trusted global healthy food provider. Yili will remain committed to creating a world integrally share health.
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