China Food

Yili said today that milk powder and cheese should also be the first in the industry after its medium-term performance reached a new high

Yili, China’s largest dairy enterprise with an annual income of more than 100 billion yuan, once again set its own record.

According to the financial report released by Yili yesterday, in the first half of 2022, the company realized a total operating income of 63.463 billion yuan, a year-on-year increase of 12.31%; The net profit was 6.139 billion yuan, with a year-on-year increase of 15.40%. Both revenue and net profit achieved double-digit growth and reached a new record. At the same time, the profitability also maintained an upward trend, and the net profit margin increased by 24 basis points to 9.66% year-on-year.

“Due to the impact of the epidemic, the whole industry faced relatively big challenges in the first half of the year. It is not easy for us to achieve such results.” At the performance meeting held this morning,

This also means that Yili has further expanded its leading edge as the industry leader. Under the impact of the epidemic, the Matthew effect of “the stronger the stronger” in the food and beverage industry seems to be more obvious because large companies have stronger ability to resist risks.

At today’s performance meeting, the company’s management further talked about the impact of the epidemic, product innovation, cultivation of new businesses, and annual expectations. Next, the snack generation will take you to listen to the news on the spot.

Basic disk

Let’s focus on the liquid milk business first. This category accounts for the majority of Yili’s revenue and is the basic indicator of the company’s performance. Yili Zhongbao shows that the income of liquid milk business (Note: including normal temperature yogurt) is 42.892 billion yuan, and its scale and market share are the first in the industry.

Under this plate, Yili has 20 billion level star single product Jindian, amuxi and Yili pure milk. The company pointed out today that among them, the market share of amhersh reached 65%, ranking first in the category; As the first brand of organic products, Jindian organic continues to be the first in the industry in terms of market share. In addition, the 10 billion level single product excellent sour milk is growing rapidly, and the 1 billion level single product Shuhua milk, cereal and QQ star have full potential.

“In the first quarter of this year, the normal temperature liquid milk achieved a good start. In the second quarter, the sales volume of some areas seriously affected by the epidemic was affected. But even so, the whole normal temperature liquid milk in the first half of this year achieved a stable and higher growth rate than the industry.” Zhao Lin, general manager of Yili investor relations department, said at the meeting.

In the subsequent reply session, Qiu Xiangmin, Secretary of Yili’s board of directors, added that about 20% of Yili’s normal temperature liquid milk was sold in the first and second tier cities, and 80% in the offline cities. “(in the first half of the year), cities such as Shanghai and Beijing have relatively small impact due to the response measures such as supply guarantee and group purchase. However, in other regions, especially some offline cities, the overall impact of the epidemic may be greater. On the one hand, it is because of the strict prevention and control measures, and on the other hand, it is also because the residents’ demand for dairy products is weaker than that of the first tier cities.” He said.

He said that from the perspective of time, the impact of the epidemic in April this year was the greatest, mainly because the logistics supply side was limited by the prevention and control policies of various places. It began to improve gradually from May to June. “In the second half of the year, the sales in July also improved, but it may take some time to fully recover.”

“In the first half of the year, our white milk increased

Yili pointed out that in terms of channels, on the one hand, it will deepen the layout of the core mother infant channel for infant formula sales through the construction of the link infant Club; On the other hand, we will increase the coverage of maternal and infant channels in low-level cities, achieve an increase of more than 30% in maternal and infant channels in the period, and maintain the growth rate of core channels at the first place in the industry.

“Looking forward to the whole year, the goal of Yili milk powder business is to achieve at least 20% growth, and the growth of infant milk powder will be faster. Now, we have made great breakthroughs in market share, and in the longer term, we will still work towards the first goal. In the future, we hope to continue to make efforts through product formula upgrading, maternal and infant channels, and member marketing improvement, so as to win more consumers’ favor and integrate more Market share. ” Zhao Lin said.

When asked about the synergy advantages of Yili holding Aoyou at the meeting, she said that the two sides had made some progress in supply chain production, channels and other aspects through the initial “100 day coordination plan” and sorting out the coordination points. In the future, on the premise of maintaining the independent operation of both sides, they will seek more cooperation in operation management, including product sorting, brand building and channel layout.

The growth curve of cheese business is also steep.

“In the first half of the year, our cheese revenue increased by more than 40%. According to Nielsen’s data, the market share of retail sales increased by nearly 4% year-on-year and has become the second in the industry.” Zhao Lin said that Yili’s

Previously, in 2018, this dairy giant set up a cheese business department to distribute goods through the liquid milk advantage channel network, rapidly sinking, and leaping to the second place in the industry market share within three years. “Relying on the strong R & D capability of the company, we will continue to understand the industry trend and launch corresponding products to help the cheese business grow continuously and rapidly in the next few years.” Zhao Lin said.

It is worth noting that, as the largest ice cream company in China, Yili’s leading edge is further expanding.

According to the financial report, in the first half of the year, the sales revenue of Yili cold drink business increased by 31.71% year-on-year, ranking the first in the industry and leading the market share for 28 consecutive years. According to the data, among the top five domestic cold drink brands, Yili’s sub brands occupy three seats, of which qiaolezi ranks the first brand in the industry; In the first half of the year, the revenue growth rate of qiaolezi series products was as high as 33.31%.

Full year expectation

Looking forward to the second half of the year and the whole year, the management of Yili said at the meeting today that it would continue to work towards the goal of “achieving double-digit growth in the internal business income in the second half of the year and not declining the profit margin in the whole year”.

He said that it is difficult to accurately judge the impact of factors such as the epidemic in the second half of the year, “but we firmly believe that no matter how fast the industry recovers in the second half of the year, we will certainly perform the best in the industry. We have full confidence in long-term development.”

“Although there are still many uncertainties in the external environment, we are confident and more capable to continue to improve our core competitiveness, expand Yili’s existing value creation radius and create new growth space for our development after crossing 100 billion yuan.” Yili Chairman Pan Gang said in a briefing today.

Focus on “snack generation”(

Yili said today that milk powder and cheese should also be the first in the industry after its medium-term performance reached a new high







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