HOHHOT, China, Sept. 02, 2024 — On August 29, Yili Group (600887.SS) released its FY2024 H1 report. During the reporting period, the company continued to strengthen its leadership position in the industry, achieving total revenue of 59.915 billion yuan ($8.45 billion). With a record-breaking 19.44% YoY growth in net profit attributable to the parent company reaching 7.531 billion yuan ($1.06 billion), Yili set a new benchmark among Asian dairy companies.

In the 2024 Global Dairy Top 20 Report published by Rabobank, Yili once again secured its spot among the top five global players, maintaining its leading position in the Asian dairy industry for the 11^th consecutive year.

In FY2024 H1, the company’s liquid milk business generated revenue of 36.887 billion yuan ($5.20 billion), solidifying its leadership in terms of business scale and market share. The revenue from the milk powder business and other related ventures increased by 7.31% YoY, reaching 14.509 billion yuan ($2.05 billion), making Yili the top performer in the domestic market. The ice cream business generated revenue of 7.322 billion yuan ($1.03 billion), placing it at the top of the market segment in terms of business scale and market share for 29 consecutive years.

Simultaneously, the company intensified its innovation efforts, pursuing diverse growth strategies to nurture new areas of development. During the reporting period, Yili’s flagship new products contributed 15.2% to its total revenue. The water beverage business experienced a doubling of its overall revenue YoY, driving sustainable business momentum.

While strengthening its presence in the domestic market, Yili’s internationalization strategy has also shown significant progress, with overseas revenue experiencing a 4% YoY growth in FY2024 H1. With 81 production facilities across the globe, Yili’s products are now available in over 60 countries and regions.

In July 2024, several core Yili products gained U.S. FDA approval and entered local markets for sale, including AMBPOMIAL yoghurt, Youngfun milk beverage and Chocliz ice cream. Following this, Yili opened its first U.S. flagship store in Los Angeles. In Thailand and Indonesia, the Group’s ice cream brands like Cremo and Joyday continue to dominate the markets with the highest growth rates.

Backed by its strong growth, Yili remains committed to pursuing sustainable development and promoting the integration of commercial and social value. In May 2024, Yili launched the world’s first ESG value accounting report in the food industry. The report highlights that in 2023, Yili’s external donations totaled 280 million yuan ($39.48 million) and its operations generated a positive impact value of 6.805 billion yuan ($0.96 billion).

In MSCI’s 2024 ESG ratings, the company achieved a significant milestone with an AA rating, marking four consecutive years of improvement.

Integrating UN SDGs into its strategy, the company actively engages members of the “Net-Zero Carbon Alliance” and partners across the industrial chain to promote carbon footprint reduction and water conservation.

Source: Yili Group

CONTACT: Contact person: Mr. Sun, Tel: 86-10-63074558