China Food

Half year revenue: 63.5 billion, Yili’s only rival


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It can be said that Yili is the “hexagon soldier” of China’s dairy industry. It is the enterprise with the most comprehensive layout and balanced development in the whole industry.
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(Qi Minqian, editor: Liu Xiaoying)

Source: city boundary (ID:

 
In the first half of this year, under the influence of multiple factors, the dairy industry as a whole was under pressure.
According to the data of the National Bureau of statistics, in the first half of the year, the output of dairy products manufacturing enterprises above designated size was 15.1 million tons, an increase of 1% year-on-year. The overall growth rate of the industry also dropped compared with the same period last year.
In this case, the semi annual report issued by Yili on August 30 gave the market a surprise. Financial report data show that Yili’s revenue and net profit in the first half of the year not only hit a new record, but also maintained a double-digit high growth rate.
In the global dairy industry list released by ABN AMRO not long ago, Yili ranked among the “top five dairy enterprises in the world” for three consecutive years. It is not only the only Chinese dairy enterprise among the top five, but also the fastest-growing enterprise among the top 20 dairy enterprises in the world with a growth rate of 31.7%.
This also proves that the “Matthew effect” of China’s dairy industry is becoming more and more obvious, and the distance between Yili, the “one super” and “many strong” is also getting farther and farther. To some extent, Yili’s biggest competitor in China is itself.

The dragon head is still running

In the first half of 2022, Yili ranked first in the industry in terms of performance scale and growth rate.
According to the data of the midterm report, Yili’s revenue was 63.463 billion yuan, and its net profit was 6.139 billion yuan, both of which hit record highs, and were much higher than the second in the industry. In terms of growth, Yili’s revenue and net profit increased by 12.31% and 15.40% respectively year-on-year.
From the perspective of business, the liquid milk revenue during the reporting period was 42.892 billion yuan, accounting for 67.6% of the company’s total revenue, which is still Yili’s “basic plan”. At present, Yili liquid milk ranks first in the industry in terms of scale and market share. Besides the scale, Yili’s product portfolio matrix advantage is also obvious.
Specifically, the company has 20 billion level star single product Jindian, anmushi and Yili pure milk; Among them, Jindian is the first in the organic milk market, and the market share of amuxi in China’s normal temperature yogurt category reaches 65%. The 10 billion level of large single excellent yogurt is also maintaining high-speed growth. There are also Shuhua milk, cereal and QQ stars in Yili.
Milk powder and dairy products business is also the focus of Yili’s layout in recent years. In March 2022, Yili completed the tender offer for all the issued shares of the milk powder brand Aoyou. At present, it holds 52.70% of the shares of Aoyou.
In the first half of the year, Yili’s milk powder and dairy products revenue reached 12.071 billion yuan, a year-on-year increase of 58.28%. Among them, the growth rate of infant formula milk powder ranks first in the industry, the growth rate of adult milk powder ranks first in the segment market, and the growth rate of cheese business exceeds 40%, achieving leapfrog growth.
The cold drink business has always been Yili’s “advantageous project”, and has been the top cold drink sales in China for 28 consecutive years. In the first half of the year, Yili Leng
In addition to product innovation, Yili also actively arranges new channels on the channel side. As a traditional consumer giant, Yili has always had advantages in the deep distribution of offline channels, and its new business can also use the offline channels of liquid milk to expand rapidly.
For example, in 2018, Yili established a cheese business department, which rapidly sank through the channel network music of liquid milk, and achieved the second largest market share in the industry in only three years. According to statistics, the Yili cheese business has completed 500000 stores in the first half of the year, and it is expected that the number of stores will reach 1 million by the end of the year.
In addition to the traditional offline channels, Yili is also actively exploring new channels, such as mother and child, catering, e-commerce platforms and community group buying. According to Kantar’s consumer research data, Yili liquid dairy products achieved a year-on-year growth of 16.8% in new retail channels in the first half of the year.
Whether it is product innovation or channel expansion, it reflects Yili’s “consumer centered” grasp and satisfaction of consumer needs.
The essence of the consumer industry is to tap and satisfy consumer demand, which is also the core competitiveness of consumer goods enterprises. Now Yili is widening the gap with its competitors. To some extent, the real competitor of the company is itself. In this case, only by working hard from the essence of consumption and constantly meeting consumption demand can we maintain high-speed growth.
Global layout

Since 2011, Yili has been the No. 1 dairy market in China. It has maintained high-speed growth for many years, making Yili one of the “top five dairy companies in the world” in 2020.
Pan Gang, chairman and President of Yili Group, has always adhered to the strategy of “leading with high goals”. In 2020, he released Yili’s medium – and long-term strategies: to advance into the “top three global dairy companies” in 2025 and to become the “top one in global dairy industry” in 2030.
Under the guidance of this goal, Yili not only promotes its strategic layout in China, but also optimizes the layout of the global supply chain network, and makes use of global resources to develop the international market.
As early as 2007, Yili began to test the globalization of water. In recent years, Yili has also been promoting the “global web weaving” plan. On the one hand, it integrates high-quality material resources globally; On the other hand, integrate high-quality intellectual resources such as talents and technology.
In 2014, Yili built a production base in New Zealand, and in 2019, Yili’s subsidiary acquired weiziland, the second largest dairy enterprise in New Zealand.
In addition to its business layout, Yili also cooperates with top universities and scientific research institutions in the world in nutrition and health, product research and development, food safety, agricultural science and technology and other fields. For example, in 2014, Yili teamed up with Wageningen University, a top university in the field of life sciences in Europe, to build Yili’s European R & D center together with more than 15000 R & D personnel from the European “food Valley”.
Southeast Asia is also the key area of Yili’s international layout. In November 2018, Yili acquired chomt, the largest ice cream company in Thailand
In the first half of the year, Yili was not only the first in the industry to release the dual carbon goal and roadmap, and the first to build a “zero carbon factory”, but also launched the industry’s first “zero carbon milk” and “zero carbon cold drinks”.
According to Yili’s plan, the company will achieve carbon neutrality in the whole industrial chain by 2050.
Empowering partners is also a reflection of Yili’s fulfillment of social responsibilities, helping industry development and promoting common prosperity.
For the cooperative enterprises in the supply chain, Yili has helped to improve the per unit area yield of dairy cows through technical guidance, and promoted the implementation of cost reduction and efficiency improvement of pasture. In addition to this “empowerment”, Yili will also provide financing support for upstream and downstream partners in the industrial chain. From 2014 to June 2022, the company provided 104.656 billion yuan of financing.
(Yili modern wisdom health Valley)
Yili has successively built modern dairy industry clusters in Inner Mongolia, Ningxia, Gansu, Hebei and other places, injecting strong momentum into the revitalization of China’s dairy industry. For example, Yili modern intelligent health Valley, known as the “Silicon Valley of the world’s dairy industry”, not only has the world’s largest intelligent manufacturing benchmark base with the highest degree of digital intelligence, but also the only national dairy technology innovation center, national dairy measurement and testing center and other national level technology centers have settled in succession.

From the perspective of the whole society, Yili is also helping “Rural Revitalization” through its own industry advantages. Through direct procurement of fruits from the fruit producing areas and cooperation with Dandong, Xuwen, Xinjiang and other places, amxi has not only achieved performance growth, but also helped the development of local characteristic agriculture.

Now, ESG has become an important indicator for investors and the public to evaluate the company. The so-called ESG refers to environment, society and corporate governance. This indicator not only measures the company’s performance, but also comprehensively considers its impact on the environment and society.
On August 23, 2022, Forbes China released the 2022 China esg50 list, and Yili was successfully selected as the only dairy enterprise in China.
According to the latest news, due to its excellent performance in environmental protection, social welfare and corporate governance, Yili MSCI ESG rating was rated BBB again, and won the highest ESG rating in China’s food industry.
(the above pictures are from visual China, except for the source marked separately)
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Half year revenue: 63.5 billion, Yili’s only rival
上半年,在疫情及海外经济通胀影响下,伊利通过持续优化全球供应链网络布局,有效保障了产品、物料的及时供给交付。同时,公司立足全球供应链协同运营平台,实现国内与东南亚、新西兰基地间的高效联动。
在积极开拓海外市场的背景下,今年上半年伊利国际化业务收入比去年同期增长了58%。
9月1日,伊利发布公告称,为了实现对公司已投和未来拟投海外投资项目的归集统一专业化管理,提高投资风险管控能力,同时为了有效地把握新的市场机遇,更加灵活地开展海外投资,公司全资子公司设立了境外私募资金。
这个投资基金的设立,能够促进伊利战略落地及生态圈打造,这也意味着公司全球化战略更进了一步。

“行业老大”的责任感

作为乳业龙头,伊利不仅注重业绩的增长,同时也在积极承担社会责任。2021年,董事长潘刚正式提出了“社会价值领先”目标,为社会创造价值。
率先实现碳达峰、碳中和是伊利的目标之一。伊利在回复投资者问答时表示,2021年公司碳排放强度较2012年下降50.9%。自2010年起,伊利已连续12年开展企业内的全面碳盘查,是行业第一家开展碳盘查的企业。
为了节能减排、保护环境,伊利在产品生产和包装环节做了许多创新。比如今年6月,安慕希发起“环保不墨迹”公益行动,正式上线减墨产品,通过减少包装颜色,节约油墨使用量。
上半年,伊利不仅在行业内第一个发布双碳目标及路线图、第一个建成“零碳工厂”,还推出了行业第一款“零碳牛奶”和“零碳冷饮”。
根据伊利的规划,2050年前公司将实现全产业链碳中和。
为合作伙伴的赋能,也是伊利履行社会责任、助力行业发展促进共同富裕的体现。
对供应链上的合作企业,伊利通过技术指导等助力奶牛单产提升,推动落实牧场降本增效。除了这种“赋能”,伊利还会为产业链上下游合作伙伴提供融资扶持。2014年到2022年6月期间,公司累计提供融资金额为1046.56亿元。
(伊利现代智慧健康谷)
伊利在内蒙古、宁夏、甘肃、河北等多地陆续建设现代奶产业集群,为中国奶业振兴注入强劲动能。比如被誉为“世界乳业硅谷”的伊利现代智慧健康谷,不仅有全球规模最大、数智化程度最高的智造标杆基地,而且全国唯一的国家乳业技术创新中心、国家乳制品计量测试中心等国家级技术中心相继入驻。
从整个社会的层面来所,伊利也在通过自身的行业优势,助力“乡村振兴”。安慕希通过水果产地直采,和丹东、徐闻、新疆等地合作,在公司实现业绩增长的同时,也助力了当地特色农业的发展。
现在,ESG已经成了投资者以及公众评价公司的重要指标。所谓ESG,是指环境、社会和公司治理,这个指标不单单衡量公司业绩,还会综合考虑其对环境和社会的影响。
2022年8月23日,福布斯中国发布2022中国ESG50名单,伊利作为中国唯一乳企成功入选。
另据最新消息,由于在环境保护、社会公益、公司治理等方面的优秀表现,伊利MSCI ESG评级再度被评为BBB级,摘得中国食品行业最高ESG评级。
(除单独标注来源外,以上图片来自视觉中国)

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