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Yili Group Released the Performance Report for the First Half of 2020: Both Revenue and Net Profit after deducting non-recurring gain and loss achieved growth against trend
On August 27th, Inner Mongolia Yili Industrial Group Co., Ltd. (SHA:600887) released its performance report for the first half of 2020. Confronting the macroeconomic uncertainty and the continuous impact of the COVID-19 pandemic, Yili's performance in the second quarter gained strong recovery, realizing a growth far exceeding that of the industry. Achieving a revenue of CNY 26.88 billion, with a year-on-year growth of 22.49%, and a net profit of CNY 2.397 billion after deducting non-recurring gain and loss, with a year-on-year growth of 79.28%. Driven by the strong performance in the second quarter, Yili's performance in the first half of the year showed a growth against the trend beyond expectation, achieving a gross revenue of CNY 47.528 billion and a net profit of CNY 3.766 billion after deducting non-recurring gain and loss, with a year-on-year growth of 7.02%, which demonstrated Yili's strong systemic risk resistance capacity and certainty of endogenous growth. Additionally, Yili ranked first continuously in Asian dairy industry in terms of multiple key indicators such as gross revenue, net profit, overall market share and total asset turnover rate.
“It is both a crisis and a test for all enterprises in response to the sudden outbreak and the lasting impact of COVID-19. Yili had not only passed the test, but also realized a growth in the performance against the trend because of our stable and solid base and competitive advantage of the full industrial chain. In the future, we will continue to adhere to the ‘consumer-centered’ operation principle, insist on our creed of ‘Yili represents quality’, consolidate our core competitive advantages and risk resistance capacity, and give full play to our leading role of the industry to create a healthy future.” Pan Gang, Chairman of Yili Group, said.
Yili's stable and solid base comes from our advantages throughout the whole industrial chain, which are realized by its core competitiveness in many aspects such as scale, brand, channel penetration, product innovation, supply chain coordination and corporate culture. It is also key to its ability to resist risks and achieve a positive growth.