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

Core Insights - Inner Mongolia Yili Industrial Group Co., Ltd. reported total revenue of 115.78 billion yuan for FY2024, reinforcing its status as Asia's leading dairy producer [1] - In Q1 FY2025, Yili experienced better-than-expected growth with simultaneous increases in revenue and net profit despite challenging market conditions [1] Financial Performance - Yili proposed a dividend payout of 7.726 billion yuan for FY2024, achieving a record-high payout ratio of 91.4% [4] - The company initiated a share buyback program of up to 2 billion yuan, resulting in total shareholder returns of 100.4% of profits [4] - Cumulatively, Yili has distributed 50.8 billion yuan in dividends since its listing, ranking first among Chinese dairy companies [4] Business Segments - In FY2024, Yili's liquid milk business generated revenue of 75.003 billion yuan, maintaining its leading position [5] - The ice cream segment reported revenue of 8.721 billion yuan, securing the top spot in revenue and market share for the 30th consecutive year [5] - Milk powder and related businesses achieved record-high revenue of 29.675 billion yuan, with milk powder sales leading in China and goat milk formula ranking first globally [5] International Growth - Yili's international business showed robust growth in FY2024, with overseas ice cream revenue increasing by 13% and infant formula revenue surging by 68% [6] - Flagship brands Cremo and Joyday performed strongly in Southeast Asia, ranking among the top three ice cream brands in Indonesia and Thailand [6] Corporate Responsibility and ESG - Yili promotes a comprehensive green supply chain and engages in rural revitalization initiatives and social responsibility programs [7] - The company achieved an AA rating in MSCI's latest 2024 ESG ratings, the highest in the industry, marking four consecutive years of upgrades [8]