Xinhua Silk Road: Yili reports net profit of 3.8 bln yuan in H1

China’s leading dairy company Yili Group (600887.SH) earned a net profit of 3.8 billion yuan, a year-on-year increase of 0.33 billion yuan in the first half of 2019, according to the group’s interim results released late on Thursday.

It realized a total operating revenue of 45.07 billion yuan in the period, a year-on-year increase of 5.13 billion yuan.

The growths underlined Yili’s strong growth momentum and potential for sustainable development, said the company.

(photo caption: A panoramic view of Yili Group)

Earlier this year, Yili initiated 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.

Situated in the world’s “golden milk belt”, New Zealand is an essential country in Yili’s international strategic landscape.

Prior to posting its interim results, Yili had completed the acquisition of Westland Co-operative Dairy Company Limited, the second-largest dairy Co-operative in New Zealand, which will help Yili further strengthen its global production capacity and create synergies along the global dairy value chain.

Yili has invested 3 billion yuan to build the Oceania Dairy production base, one of the world’s largest integrated dairy bases, and signed a strategic partnership agreement with the Lincoln University of New Zealand to set up its Oceania R&D Center.

In June 2019, Oceania Dairy received the cross-border investment award from the New Zealand-China Trade Association (NZCTA), an example of international recognition of Yili’s overseas business.

In addition, Yili works closely with local partners to make New Zealand’s premium milk available to consumers around the world and is committed to pursuing mutually beneficial and win-win cooperation with New Zealand partners, active involvement in local charitable activities and contribution to local economic development.

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Source: Xinhua Silk Road Information Service

/Public Release.