Yili Reports FY2024 Revenue of 115.8 Billion Yuan, Reinforcing Its Position as Asia's Leading Dairy Company

On April 29, Inner Mongolia Yili Industrial Group Co., Ltd. (600887.SH) released its financial results, reporting total revenue of 115.78 billion yuan in FY2024, further solidifying its position as Asia's top dairy producer. In the first quarter of FY2025, Yili delivered better-than-expected growth, achieving simultaneous increases in both revenue and net profit despite challenging market conditions.

For FY2024, Yili has proposed a dividend payout of 7.726 billion yuan, representing a record-high payout ratio of 91.4%. During the reporting period, the company also initiated a share buyback program of up to 2 billion yuan. Combined, dividends and share repurchases brought total shareholder returns to 100.4% of profits. Since its listing, Yili has distributed cumulative dividends totaling 50.8 billion yuan, ranking first among Chinese dairy companies.

During the reporting period, Yili maintained industry leadership across all product categories. In FY2024, its liquid milk business generated revenue of 75.003 billion yuan, consolidating its leading position and expanding its scale advantages. The ice cream segment reported revenue of 8.721 billion yuan, securing the top spot in both revenue and market share for the 30th consecutive year. The milk powder and related businesses achieved record-high revenue of 29.675 billion yuan, with milk powder sales maintaining the leading position in China, and goat milk formula ranking first globally in both sales volume and revenue.

Yili's international business also demonstrated robust growth in FY2024, with overseas ice cream revenue growing by 13% and infant formula revenue surging by 68% in international markets. Flagship brands such as Cremo and Joyday continued to perform strongly in Southeast Asia, ranking among the top three ice cream brands in Indonesia and Thailand, respectively, thereby boosting Yili's market share in the region.

As Asia's dairy industry leader, Yili not only continues to deliver outstanding business performance but also actively promotes a comprehensive green supply chain, deepens rural revitalization initiatives, and engages in social responsibility programs -- striving to achieve balanced economic, social, and environmental benefits.

In MSCI's latest 2024 ESG ratings, Yili achieved a breakthrough AA rating -- the highest in the industry -- marking four consecutive years of upgrades.

Source: Yili Industrial Group Co., Ltd.

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