Inner Mongolia Yili Industrial Group, one of the country’s top dairy companies, posted a significant profit rise for the first three quarters of the year. Net profits jumped 20.69 percent year on year to reach 4.39 billion yuan (around 655 million U.S. dollars) for January-September, according to a statement filed to the Shanghai Stock Exchange…Full Article: Xinhua Nov 2016
- Yili Group attributed part of its profit increase to sales of its Ambrosial high-end yogurt [Greek yogurt product].
- In 2015, Mengniu Dairy had a 37% share of China’s high-end milk market, followed by Yili Group (26.6%) and Shengmu (7.6%).
- In October 2016, Yili Group announced it would issue a CNY 9 billion [~US$1.3 billion] private placement of new shares to be raised by Hohhot City Asset Investment, Inner Mongolia Transportation Investment, Jinshi Haorui Investment [Qingdao based private equity firm], Ping An Asset Management [Hong Kong based insurance company], and Jinmeihua Investment. Of the CNY 9 billion, CNY 4.6 billion [~680 million] would be used to acquire a 37% stake in China Shengmu Organic Milk (HKG:1432).
- In September 2016, Sunshine Insurance Group increased its stake in Yili Group. As a result, Inner Mongolia’s largest shareholders included Hohhot Investment (8.8%), Hong Kong Securities Clearing (6.22%), and Sunshine Insurance Group (5%).
- In 2015, Inner Mongolia Yili Group was ranked China’s top consumer brand, and was followed by Master Kong (see Tingyi Cayman Islands), Mengniu and Want Want China.
- Inner Mongolia Yili Group (SHA:600887) 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.
- Founded in 2009 and headquartered in Bayannur, Inner Mongolia Region, China Shengmu Organic Milk (HKG:1432) is China’s largest organic milk producer and had an estimated 54% market share (organic milk) in 2013.
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