Yili Group issues 2020 annual report and record first quarter results

The Q1 2021 report released at the same time showed the company's total revenue in the first quarter was RMB 27.363bn ($4.23bn), a YOY increase of 32.49%, of which the net profit attributable to the parent company was RMB 2.831bn ($440m), a YOY increase of 147.69%.

In terms of products, the company continued to promote product optimization, with the sales revenue of key products recording a YOY increase of 9.6%. In addition, Yili has been exploring new growth points through innovation. The company's sales revenue for new products accounted for 16% of total sales revenue.

In terms of channels, the company actively expanded new retail models on e-commerce platforms, with a YOY growth of 55%. Yili's market share of retail sales for UHT milk on e-commerce platforms was 28.1% during the same period, ranking first in the UHT milk market segment.

In addition, the company has promoted its business in Oceania, Southeast Asia, and other overseas markets.

Yili said it promoted cooperation across the industry chain, continued to invest more in R&D, technology, and innovation, and continuously innovated its product categories and accelerated the layout of health business by relying on a global network connecting Asia, Europe, Oceania, and the Americas, and using big data to gain insights of consumers.