Yili Group Enjoys Double-Digit Growth in Revenue and Net Profit in 3Q 2020

Consumer Staples Author: Yue Liu Editor: Luke Sheehan Oct 30, 2020 03:01 AM (GMT+8)

After the report was released, Yili Group’s share price reached a new high.

Image credit: engin akyurt/Unsplash

On October 29, Yili Group, a Chinese dairy products producer, released its third-quarter report for 2020, showing that its total operating income in the first three quarters was CNY 73.77 billion, a year-on-year increase of 7.42%; net profit was CNY 6.04 billion, a year-on-year increase of 7%. In the third quarter, revenue reached CNY 26.24 billion, an increase of 11.17% year-on-year; the net profit was CNY 2.29 billion, an increase of 23.73% year-on-year.

In the first three quarters, the revenue of liquid milk, milk powder and dairy products, cold drink products, and other products were CNY 57.29 billion, CNY 9.37 billion, and CNY 6.03 billion and CNY 169 million. In terms of subregions, revenue generated from North China, South China and other regions was CNY 20.46 billion, CNY 18.11 billion and CNY 34.29 billion, respectively.

Yili’s growth has benefited from the rapid recovery of China’s economy, the structural upgrade of market demand and the competitive advantages of the entire industry chain accumulated by the company.