E-commerce helps Yili ramp up Q2 revenue

By Jim Cornall contact

- Last updated on GMT

Yili's revenue from e-commerce increased by 49% year on year. Pic: Yili
Yili's revenue from e-commerce increased by 49% year on year. Pic: Yili

Related tags: Yili

Inner Mongolia Yili Industrial Group Co., Ltd., one of the Chinese dairy giants, generated a revenue of 26.88bn yuan ($3.92bn) in the second quarter of this year, up 22.49% year on year.

Yili also reported a 79.3% year-on-year growth in net profits after deducting non-recurring gains and losses in Q2, which reached 2.397bn ($350m) yuan.

Driven by the strong performance in Q2, Yili's performance in the first half of the year showed a stronger-than-expected growth and its key indicators, such as revenue, net profit and total asset turnover, still ranked among the highest in the Asian dairy industry.

From January to June, the company saw its revenue reach 47.53bn yuan ($6.92bn), with the net profits after deducting non-recurring gains and losses of 3.77bn yuan ($550m).

The coronavirus pandemic is not only a crisis but also a test for all companies, said Pan Gang, chairman and president of Yili, adding that Yili withstood the test and showed strong growth momentum amid its continuous efforts to strengthen the company's core competitive advantages and anti-risk capabilities.

Yili said it is also accelerating the development of new retail models with an aim to further leverage its channel advantages to provide consumers with more convenient and faster shopping experience and services. Data showed in the first half of 2020, Yili's revenue from e-commerce business increased by 49% year on year.

In the future, Yili said it will 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.

Related topics: Manufacturers

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