Yili Reports Record High Revenue Approaching 100 Billion Yuan in the First Three Quarters of FY2023

HOHHOT,China,Nov. 1,2023 -- On October 30,Yili Group released its financial results for the first three quarters of FY2023. During the reporting period,the company's revenue amountedto 97.404 billion yuan (approx. USD 13.32 billion) and net profit rose by 16.36%.

Yili reports record high revenue approaching 100 billion yuan in the first three quarters of FY2023

These record high figures indicate a continuous improvement inYili's corebusiness capabilities. The Asian dairy giant continued to step up the application of R&D outcomes,evidenced by the launch of a series of innovativehealthy products that have received positive feedback from consumers.

In terms of business units,Yili's liquid milk business secured its leadingposition in the segment with accelerated growth throughout Q1 to Q3. It reported a revenue of 65.432 billion yuan (approx. USD 8.93 billion) fromJanuary to September,a year-on-year increase of 2.07%,and the growth rate reached 8.48% in the strong third quarter. Adult milk powder continued itsstrong growth,leading the segment with its market share rising to 23.9%. The rapidly growing ice cream business also topped the segment in terms of market share and reported a revenue of 10.383 billion yuan (approx. USD 1.42 billion).

The achievements are attributable to Yili's strong capabilities in transformingits key innovation outcomes into top-selling new products. Benefiting from its digital-oriented upgrading across the entire value chain,the company has seen significant progress in overall business efficiency which is shaping Yili's new competitive advantages. While driving robust development in business performance,Yili's digitalized operation system is also contributing to asustainable dairy industry,representing success both commercially and socially.

In upstream segments of the industry,Yili has adopted a recycling-oriented sustainability model. It has built a number of ecological smart farms that areequipped with intelligent,low-carbon and eco-friendly facilities. Featuring full-process unmanned operations,the smart farm system pioneers the industryin enhancing efficiency and promoting green and sustainable transformation. The system is also being introduced across China as part of Yili's efforts toreduce the carbon footprint of the entire dairy industry.

At midstream level,Yili has built five net-zero carbon factories and had 31factories certified as state-level "green factories". In addition,all of itsfactories in China have completed digitalized upgrades. Embracing digitalempowerment and recycling technology,Yili manages to multiply productionefficiency and propel green manufacturing.

Towards the downstream,Yili remains a trendsetter in promoting sustainableconsumption by adopting eco-friendly packaging. Its SATINE Environmentally Sustainable Packaging with No Ink or Printing won the IDF Dairy Innovation Award,as a recognition of its innovative solutions for reducing carbon footprint.

The company's years of efforts in theESG field have also earned highrecognition from the capital market. In the MSCI ESG Ratings 2023,Yili alsoreceived Grade A rating,the highest among all A-share listed dairy producers.

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