Recently, a rare thing has happened in the A-share market, and many listed companies have announced their operations in the first 2 months, especially the performance growth. This matter may be to maintain the stability of the capital market.
As a leading dairy enterprise in China, Yili shares also disclosed their business situation in the first two months. Yili, which has always been known for its stability, not only did not disappoint, but also brought a lot of surprises to the market.
On the evening of March 10, Yili shares (600887. SH) disclosed the main operating conditions from January to February 2022, showing that after preliminary accounting, Yili achieved operating income of about 21.5 billion yuan in the first two months of 2022, an increase of more than 15% over the same period in 2021; and the total realized profit was about 3.3 billion yuan, an increase of more than 20% over the same period of the previous year.
In 59 days, 21.5 billion yuan of revenue, the average daily income of more than 350 million, Yili's operating performance has created a history, and achieved the "strongest opening" in history. Yi used his hard power to show the market the certainty of his endogenous growth, telling the market what is the real "milk mao".
Yili's excellent results have also boosted the confidence of investors in the market. After Yili took the initiative to disclose its performance, it was unanimously recognized by securities companies, incomplete statistics, more than 20 securities companies gave Yili buy ratings, and Yili's stock price rose for 2 consecutive days.
The market is also talking about Yili's "strongest opening", "Where does Yili's strong growth come from?" Has Erie found a new growth point? Can you still create new surprises? ”
To answer the questions of the market, we must consider two aspects: on the one hand, Yili's own business structure continues to upgrade, and the advantage business and innovation business continue to exert force, providing impetus for Yili's "strongest opening"; on the other hand, It is Yili's layout in the brand, the whole industry chain and long-term value, laying the foundation for Yili's sustained and steady growth, so that Yili can continue to create surprises.
The product structure continues to upgrade, and both sides of the force have won the "strongest opening red"
Because of its unique health attributes, dairy products have become a healthy choice for more and more consumers, and the demand for dairy products has shown a continuous growth trend.
According to Euromonitor data, in 2019, the size of China's dairy consumer market exceeded 400 billion yuan, reaching 419.63 billion yuan, and the mainland dairy market will remain stable in the next five years, and the consumption scale of the mainland dairy market will exceed 550 billion yuan in 2024.
Yili is a leading dairy enterprise in China, in order to provide consumers with more abundant and healthy products, Yili continues to optimize the product structure, becoming the most complete dairy enterprise in the country, with liquid milk, milk drinks, milk powder and dairy products and other products.
Behind Yili's "strongest opening" is the result of the continuous optimization and upgrading of the product structure and the efforts on both sides of revenue and cost.
From the perspective of income, Yili products with liquid milk as the basic plate and milk powder dairy products as the second growth pole are working at the same time.
Liquid milk mainly contains white milk and yogurt products, which are Yili's fist business.
From January to February 2022, Yili's white milk business continued to maintain a high growth trend, of which the growth of high-end products of the Jindian brand was more prominent. Nielsen data shows that in January 2022, Yili ambient white milk increased by 12.6% year-on-year. Among them, the Jindian product series increased by 15.1% year-on-year, and the growth rate was the first in the same category.
In the yogurt business, Yili continues to promote product innovation and upgrading, tetra pak drill sweet pineapple flavor and PET bottle Dandong strawberry flavor and other new flavors of Ammus have been generally recognized by consumers for their taste and packaging as soon as they are listed.
Under the steady growth of liquid milk basic disk, Yili's Golden Crown infant milk powder has risen rapidly, and the cheese business has doubled, comprehensively constructing Yili's second growth curve.
From January to February 2022, Yili Jin's sales revenue increased by more than 30% year-on-year, ranking first in the dairy industry. In February, Jinlingguan infant milk powder upgraded the formula, and Yili became the only milk powder head enterprise that passed the strictest "new national standard" in history, showing its hard power to the market.
In the same period, Yili "dropped" Ausnutria and made a comprehensive acquisition of Ausnutria, which will successfully lock in the position of a leader in China's milk powder industry and welcome the coming infant milk powder dividend.
In the direction of cheese, Erie is also sharp. Cheese has always been known as the gold of dairy products, its nutritional value is extremely high, and it is a position for various dairy companies to compete for.
In January 2022, yili cheese's market share increased by 3 percentage points year-on-year; the total internal sales data in January and February doubled year-on-year, and the growth rate was much higher than that of the same industry. The cheese business is also becoming a future growth point for Yili.
The basic disk is stable, and in addition to the second growth pole, the sales of Yili cold drink business have also achieved significant growth. The growth rate of Qiaolezi's high-end brands Qi Xuan has reached more than 74%, the growth rate of high-end brands has reached more than 82%, and the growth rate of ultra-high-end brands has reached more than 748%.
As a result, the strong growth of key brands and a number of businesses has supported the sustained growth of Yili's revenue and laid the foundation for Yili's cost-side control.
On the cost side, in recent years, Yili has joined hands with enterprises in the industrial chain to jointly plan industrial development and exert the synergy effect of the whole industrial chain, and Yili has ushered in a new cycle of stable costs.
The research report of CITIC Securities also pointed out that Yili sold dairy products to upgrade dividends, the product structure continued to upgrade, the gross profit margin was improved, the cost control performance was good, and the investment in the Winter Olympics did not hinder the improvement of profitability.
Yili's product structure continues to upgrade, while actively expanding the product line and expanding the circle of capabilities, the competitive barriers built by Yili will be further enhanced.
Building competitive barriers, Yili may usher in the best time
In the Olympic Games, there are 100-meter sprints and marathons up to tens of kilometers long. In the development of the enterprise, it will also experience a 100-meter sprint and a marathon.
For a company, it is not difficult to complete the 100-meter sprint, the difficulty is how to always maintain its own rhythm in the marathon that cannot see the end, not to be surpassed by the opponent, and finally create a seemingly impossible development miracle.
If you want to win this marathon of enterprise development, building your own competitive barriers has become the key to winning the race.
After decades of efforts, Yili has gradually built its own competitive barriers, and the brand, quality and pricing power of the derivative market have been further improved.
"217.73 billion", this figure is the number of brand exposures of Yili in the Beijing 2022 Winter Olympics. As the official and only dairy partner of the Winter Olympics, Yili shines at the Beijing Winter Olympics, enhancing the brand and helping Yili achieve a good start in the first quarter of 2022.
As early as the 2008 Beijing Olympics, Yili became an Olympic partner of dairy products, and since then it has become a highly "Olympic" brand, which has continued until the 2022 Beijing Winter Olympics.
The slogan of the Olympics is "Higher, faster, stronger." Yili's pursuit of quality is, "higher, stronger, healthier."
"Yili is quality". Within Yili, there is a special "standard three lines" - in the test, on the basis of the national standard line, 50% of the standard is raised as the enterprise standard line, and on the basis of the enterprise standard line, the standard is raised by 20% as the internal control line.
When this pursuit of high quality is combined with market channels, it is logical to transform into the reputation and market share of Yili brand, casting Yili's market dominance and company value.
In the 2021 Asia Brand Footprint Report released by Kantar Consumer Index, Yili has become the most selected brand among Chinese consumers for many consecutive years with a brand penetration rate of 92.2% and a reach of 1.3 billion consumers.
Under the pursuit of quality, science and technology has also become an important means for Yili to build barriers to competition. The most important embodiment of Yili's technology strength is digital transformation.
Pan Gang, chairman of Yili, has said many times, "Accelerate digital transformation and accelerate the overall operational efficiency of the group to achieve our strategic goals." "Yili has been actively promoting the deep integration of digital technology and dairy industry entities.
Yili's dairy industry digitalization is the digitization of the whole industry chain.
Upstream, the data transmitted back through the Yili Smart Ranch Big Data Analysis Application Platform can assess and classify the health of each cow to ensure quality;
In the middle reaches, Yili built smart factories to achieve upstream and downstream integration; as early as 2015, Yili became a dairy enterprise selected for the list of the first batch of national intelligent manufacturing pilot demonstration projects with the "Dairy Production Smart Factory Pilot Demonstration Project".
Downstream, Yili builds a data platform to create a new consumer experience, through the end-to-end big data consumer intelligent insight platform, understand consumer needs, truly narrow the distance between consumers and products, and let consumers fall in love with Yili.
It can be said that through digital transformation, Yili is no longer a traditional dairy enterprise, but a "new dairy enterprise" under digitalization. If "product power, brand power, channel power" is the core competitiveness that Yili has formed, then digital transformation will create new competitiveness for Yili and provide a new core driving force for business growth.
The opening of the first season of 2022 is just the beginning for Yili. Yili's long-term goal is to enter the top three of the global dairy industry in 2025 and the world's first place in 2030. From a long-term perspective, now is perhaps the best time for Yili to have a future cycle.
As Yili continues to promote the continuous upgrading of its own business structure, with quality as the first, and continuously promotes the transformation of enterprises to build core competitiveness with technology, Yili will also bring more surprises to market consumers and investors. Quantitative change promotes qualitative change, and the long-term goal of Yili to reach the top of the world in 2030 may only be a matter of time.