Top Chinese dairy company Yili Group reported 30-percent net profit growth in 2014 on Saturday [25 April 2015]. The Shanghai-listed company raked in combined net profits of 4.1 billion yuan (677 million U.S. dollars), according to its annual report. Statistics from China General Chamber of Commerce showed that last year the Inner Mongolia-based company beat domestic players to take the first place in five areas including milk powder, ice cream and liquid milk…Full Article: Xinhua Apr 2015
- From 2013 to 2014, Yili’s business revenue increased 13.9% to CNY 55.4 billion (~US$8.7 billion)
- In November 2014, Yili announced it would invest ~US$489 million in four dairy product factories in New Zealand. During the same month, Yili also announced it would invest ~US$30 million in the construction of a milk powder factory in Kansas, USA.
- Yili Group traces its roots back to 1956 when it operated as a dairy cooperative in Hohhot, Inner Mongolia Region. In 1993, the company was restructured as Yili Group and began its ice cream operations. Currently, Yili produces milk, milk beverages, sorbet, ice cream, milk powder, milk tea powder, yoghurt, and cheese. Since 2005, the company has been China’s top supplier of milk powder and milk tea powder.