Yili Industrial Group reports US$15.98B revenue FY2024 

CHINA – Yili, one of China’s largest dairy companies, has released its financial results, reporting total revenue of 115.78 billion yuan (US$15.98 billion) in FY2024, further solidifying its position as Asia’s top dairy producer.

In FY2024, its liquid milk business generated revenue of 75.003 billion yuan (US$10.35 billion), consolidating its leading position and expanding its scale advantages.

The ice cream segment reported revenue of 8.721 billion yuan (US$1.20 billion), securing the top spot in both revenue and market share for the 30th consecutive year.

The milk powder and related businesses achieved a record-high revenue of 29.675 billion yuan (US$4.10 billion), 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 revitalisation initiatives, and engages in social responsibility programs — striving to achieve balanced economic, social, and environmental benefits.

For FY2024, Yili has proposed a dividend payout of 7.726 billion yuan (US$1.07 billion), 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 totalling 50.8 billion yuan (US$7.01 billion), ranking first among Chinese dairy companies.

FY2023

The group unveiled impressive 2023 financial results, showcasing record-breaking total operating income and net profit.

With total operating income reaching 126.179 billion yuan and a net profit of 10.429 billion yuan attributable to the parent company, Yili Group has achieved an unparalleled 31 years of consistent growth.

The liquid milk sector, in particular, emerged as a strong performer, securing its leading position with revenues totalling 85.54 billion yuan.

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