- Healthy growth against COVID-19 backdrop surpasses industry expectations
- Marks highest ranking ever achieved by an Asian dairy producer and reflects its strong corporate governance, quality assurance and trust from consumers
Inner Mongolia Yili Industrial Group Co., Ltd., Asia's largest dairy firm, has been propelled into the top five spots among global dairy producers in the Rabobank 2020 Global Top 20 Dairy report as a result of its stellar financial performance.
Despite the uncertain macroeconomic conditions brought about by the COVID-19 pandemic, Yili recovered strongly and its performance surpassed industry expectations. Yili on August 27 reported a healthy set of first-half financial results with total operating income of RMB 47.528 billion and net profit of RMB 3.766 billion, which represents year-on-year growth of 7.02%.
Yili's strong performance reflects its strong corporate governance, business risk management, business sustainability, steady development and competitive advantage across the industry, solidifying its position as Asia's market-leading dairy producer. Indicators such as total operating income, net profit, market share and total asset turnover rate continue to put Yili ahead of others, keeping it at the forefront of the Asia dairy industry.
Commenting on the achievement, Pan Gang, Chairman of Yili, said, "This achievement will undoubtedly boost our confidence and resolve in pursuing excellence and seeking continuous improvement. Our growth is only possible with the collective effort of every member of the Yili family, and more importantly from the trust and support given by our global consumers, investors and partners. Despite the challenging business landscape ahead, we will strive to uphold 'Yili means the best quality' and always maintain our customer-centric mantra to deliver greater health and nutrition to our consumers."
Yili's continuous and stable growth throughout the years is also a result of its efforts in developments throughout the industry value chain. Leveraging its leadership in scale, brand value, channel penetration, product innovation, supply chain coordination, corporate culture and core competitiveness, Yili has been able to fully expound on its role as a market leader to share health and achieve sustainable development.
Climbing three steps up from 8th place in the Rabobank 2019 survey, Yili joins the ranks of the prestigious global top five dairy brands in the world and continues to strengthen its #1 position among Asian dairy producers.
Published annually, the Rabobank Global Top 20 Dairy report was released on August 31. The report surveys the world's largest dairy companies and highlights the giants of one of the world's most valuable food sectors. In the 2020 edition, Rabobank reported on Yili as one of the Asian companies making major moves on the list, with Yili moving into the top 5 spot on the back of a year-on-year growth of nearly 20%.
Yili is also an active corporate citizen through its "WISH System," which is an action plan designed in line with the United Nation's Sustainable Development Goals. The four pillars of the "WISH System" include Win-Win results across the industry chain (W), Quality and Innovation (I), Social Welfare (S), and Nutrition and Health (H).
Apart from being active in various social welfare projects, Yili has also stepped up its efforts in contributing to the global fight against the COVID-19 pandemic. Recently, amid the COVID-19 pandemic, Yili has heightened its efforts in working with its global partners to secure an undisrupted supply chain between its domestic and overseas subsidiaries to ensure it would be able to meet its obligations to supply adequate levels of its products. The company has also provided assistance to countries such as Iraq, the Netherlands, Uruguay, Indonesia, Thailand and more by donating essential items to the local population and frontline medical workers. These items include dairy products, face masks, as well as personal protective equipment (PPE) such as protective clothing and safety goggles.
