Yili Group reports revenue of US$9.6B in H1 2026

CHINA – Yili Group has reported revenue of US$9.55 billion (RMB 64.49 billion), up 4.13% year on year, and core operating profit of US$1.24 billion (RMB 8.38 billion), up 10% year on year, in H1 2026.

Over the two years to the first half of 2026, Yili delivered revenue growth against the industry trend, at a compound annual growth rate of 3.75%.

Additionally, Yili announced plans to launch a share repurchase and cancellation program of up to US$296 million (RMB 2 billion). The company will maintain a dividend payout ratio of no less than 75% in the coming years.

In the first half, Yili’s three core businesses – liquid milk, milk powder and dairy products, and ice cream – all kept growing and retained their No. 1 positions in China.

The liquid milk business recorded positive growth for the second consecutive quarter. The company’s infant formula market share continued to expand, ranking first in China by retail sales value, while the adult milk powder business remained the industry leader in China.

Ice cream revenue grew at a double-digit rate, holding the No. 1 position in China’s ice cream industry for the 31st consecutive year. New products accounted for 15.8% of Yili’s revenue during the period.

Alongside steady growth at home, Yili’s international expansion is beginning to deliver results. In the first half, ice cream revenue in Indonesia rose approximately 20% year on year, while revenue in the Philippines doubled year on year. In North America, Yili products across multiple categories have entered mainstream retail chains.

Yili subsidiary Ausnutria further stepped up its overseas expansion. While lifting its share in major Middle Eastern markets, Ausnutria is also accelerating its entry into Eastern Europe and other markets. In Canada, it maintained strong growth momentum, with revenue up 30% year on year.

Beyond its existing businesses, Yili continued to advance its strategy for high value-added products and ingredients.

Leveraging its New Zealand base, the company is driving its transition toward high value-added ingredients, capitalizing on the global trend toward premium protein, steadily raising the revenue contribution of protein products and supplying key ingredients to the global market. In the first half of 2026, the New Zealand operations exceeded their business targets.

“We expect our overseas business to sustain double-digit growth for the full year. In addition to Southeast Asia and New Zealand, we will gradually expand into high-potential markets such as Africa and the Middle East. As our overseas footprint expands, the international business will contribute sustained and stable growth momentum to our strategy over the next five years.”

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