Recently, Yili shares (600887. SH) announced its 2023 financial results and first quarter 2024 financial results. The company's total operating income in 2023 will be 126.179 billion yuan, and the net profit attributable to the parent company will be 10.429 billion yuan, and its revenue has maintained growth for more than 30 consecutive years. In Q1 2024, the company achieved a total revenue of 32.577 billion yuan and a net profit attributable to the parent company of 5.923 billion yuan. In 2024, the company aims to maintain its full-year growth target.
According to FMCG, in terms of business, the revenue of liquid milk products was 85.54 billion yuan, a year-on-year increase of 0.72%. The retail sales of Jindian organic pure milk series products increased by 13.5%, the retail sales of Jindian fresh milk series products increased by 54.6%, and the sales volume of Gong Cheese successfully broke through cross-border marketing and taste innovation, with sales increasing by 37% year-on-year.
The revenue of milk powder and milk products in 2023 will be 27.598 billion yuan, a year-on-year increase of 5.09%, and the overall milk powder sales performance is excellent. Among them, the market share of retail sales of adult milk powder increased to 23.3%. The market share of retail sales of infant formula milk powder increased to about 16.2%, the growth rate of Sena Mu was 50%, and Jinlingguan became the best-selling product in the maternal and infant channel with a high growth trend.
The cold beverage business has grown rapidly in recent years. In 2023, the operating income of the cold beverage business will be 10.688 billion yuan, a year-on-year increase of 11.72%. Zhenxi brand has maintained a growth rate of more than 50% for three consecutive years.
Yili continues to explore overseas markets, Cremo and Joyday brands are popular in Southeast Asia, and Joyday ice cream has landed in Africa. In 2023, the company's overseas business performed well, with revenue increasing by 10.08% over the previous year, and its products were sold to more than 60 countries and regions.
In 2023, Yili will launch the "Quality Upgrading Project of Improved Breed Cattle", and increase the retention rate of pure milk lactoferrin at room temperature from 10% to over 90% through lactoferrin directional extraction and protection technology. Yili said that in the accelerated evolution of the great changes, the company will strengthen its strategic self-confidence, adhere to the foundation of quality, drive consumption growth by adjusting product structure and optimizing sales model, and promote the digital and intelligent transformation of the entire industrial chain with the goal of long-term sustainable development.