Yili announces 2019 interim results with over RMB 45.07 billion in revenue and RMB 3.8 billion in net profit as it continues to expand its presence to Southeast Asia

Yili announces 2019 interim results with over RMB 45.07 billion in revenue and RMB 3.8 billion in net profit as it continues to expand its presence to Southeast Asia

A panoramic view of Yili Group (Antara/AsiaNet)

AsiaNet 80268

BEIJING, China, Aug. 30, 2019 (Antara/Xinhua-AsiaNet)--

Yili Group (600887.SH) announced its 2019 interim results on the evening of August 29th. The report shows in the first half of 2019, Yili realized a total operating revenue of RMB 45.07 billion, a year-on-year increase of RMB 5.13 billion, and a net profit of RMB 3.8 billion, a year-on-year increase of RMB 0.33 billion, further underlying Yili's strong growth momentum as the industry leader and pointing to its prospect and potential for sustainable development going forward.

Earlier this year, Yili pioneered in the industry with the vision of a "global health ecosystem" as it continues to deepen its global footprint with a view to integrating the best resources globally to better meet consumers' health and nutritional needs.

Yili continues to grow its footprint in Southeast Asia and Asia at large, offering more diverse product choices to local consumers. Yili's products have already entered such markets as Thailand, Indonesia, Singapore and Myanmar. Last year, Yili launched the Joyday ice cream in Indonesia, which is now available in major cities across the country and being introduced to more Southeast Asian countries with great popularity.

The acquisition of Thailand's largest local ice cream company, Chomthana, was a major breakthrough for Yili in terms of growing regional production capacity and gaining market access. Yili helped Chomthana improve on food quality, safety and sales model. Within one month of post-deal integration, Yili helped increase Chomthana's production capacity by more than 30%.

Yili's expansion in Southeast Asia is underpinned by mutually beneficial and win-win partnerships. Yili adheres to a localization strategy and works with local partners to effectively drive local economic development. 85% of Yili's employees in Indonesia and Thailand are local. Yili has created more jobs for the local community and brought about significant gains in local taxation and economic prosperity.

Source: Yili Group

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