In the course of the interval, Yili achieved a complete working income of RMB 85.007bn ($13.29bn) and a internet revenue of RMB 7.967bn ($1.25bn), a year-on-year improve of 15.23% and 31.82%, respectively. Each indicators reached a report excessive, and the revenue development of greater than 30% far outstripped expectations.
Pan Gang, the chairman of Yili Group, mentioned, “We’ll make investments extra within the tracks targeted on new consumption tendencies and aspire to do our greatest in every of them. We may also speed up our digital transformation to spice up the general operational effectivity of the Group, in a bid to attain our strategic aims.”
New product gross sales have risen strongly, with model potential starting to emerge as the brand new power underpinning Yili’s efficiency development. Excessive-growth classes, together with cheese, mineral water, low-temperature milk, and milk system, have all sustained speedy development.
Yili’s Xinhuo grownup milk powder has led the market phase in gross sales quantity, whereas Jinlingguan has been the toddler system model with essentially the most speedy development in China’s market. In the course of the first three quarters of 2021, Yili’s toddler system class reached a development fee of greater than 30% year-on-year.
The primary three quarters additionally noticed a year-on-year improve of 180% within the complete retail gross sales of Yili’s cheese enterprise.
Yili established a digitalization workforce in 2019 and has developed its digitalization-oriented transformation technique for the subsequent decade, laying out a roadmap for advertising, merchandise and provide chains.
“Digital transformation ought to be accelerated to make sure our consumer-oriented observe by way of brand-building and product innovation. That’s the main process for Yili in 2021,” Pan Gang mentioned.
