Xinhua Silk Road: Chinese dairy firm Yili's revenue rises 13.41 pct in 2019

BEIJING,April 30,2020 -- InnerMongoliaYili Industrial Group Co.,Ltd.,one of the Chinese dairy giants,has registered revenue of over 90 billion yuan last year,up 13.41 percent year-on-year,ranking No.1 in the Asian dairy industry for six consecutive years.

Its net profits climbed 7.73 percent to 7 billion yuan in 2019,the company said in its annual financial report released Tuesday.

Facing the adverse impact of the epidemic on Chinese economic and industrial development,Yili showed its strong anti-risk ability and took the lead in returning to work and production.

At present,the company's production and sales have recovered in full swing. From January to March,the company saw its revenue reach 20.653 billion yuan,with the net profits of 1.152 billion yuan.

The suddenCOVID-19outbreak posed an unprecedented threat to the health of all mankind,said Pan Gang,chairman and president of Yili,adding that Yili will adopt a more sustainable way to achieve development and is committed to becoming the world's most trusted health food provider.

Against the backdrop of an increasingly uncertain economic situation worldwide,Yili will quicken the pace to upgrade its product mix and foster sustainable core competitive edges with the aim to develop into a global healthy food giant in the future.

A research report issued by China Merchants Securities showed that with the recovery of the offline market in March,the comprehensive network advantage of Yili's liquid milk and infant formula milk powder businesses will be once again emerged and the company's market share will continue to grow.

With its mission of building a global health ecosystem,the company has doubled efforts to master high-quality milk sources worldwide and speed up to expand its presence in the Southeast Asian market.

Last year,the company has completed the transaction of the acquisition of Westland Co-operative Dairy Company Limited,New Zealand's second-largest dairy co-operative,marking a significant breakthrough for the company's global expansion.

As Asia's largest dairy company,Yili will adhere to the corporate belief that "Yili represents quality",actively explore new businesses,establish new models,and lead the development of the dairy industry with high-quality,healthy and sustainable business concepts in an attempt to realize its version of becoming the world's most trusted health food provider.

(Edited by Yang Yifan with Xinhua Silk Road,yangyifan@xinhua.org)