YILI(SH:600887) Ge Long Hui A P P·2025-11-21 06:24Core Viewpoint - The report from Zhongyou Securities indicates that Yili Group aims to establish leadership in various segments by 2025, with a projected compound annual growth rate (CAGR) of double digits in revenue from 2021 to 2025, significantly outperforming the industry average [1] Revenue Growth - The overall revenue growth of the company is influenced by consumer sentiment, with a projected CAGR of 4.55% from 2020 to 2024, compared to the industry's decline of -0.18% [1] Market Position - In the liquid milk segment, Yili maintains the top market share, continuing to lead the industry [1] - The company has achieved the highest market share in the milk powder and dairy products sector, with growth rates surpassing competitors, particularly in the cheese market [1] - Yili's ice cream business also retains the leading market share, reinforcing its leadership across all business lines [1] Future Strategy - Over the next five years, Yili plans to focus on value reconfiguration along the supply chain and explore diversification, aligning with consumer demand and channel changes [1] - The company aims for its growth rate to exceed that of the industry and national GDP growth [1] International Expansion - Yili's overseas core markets are concentrated in Indonesia, Thailand, and New Zealand, with a focus on ice cream and infant formula products [1] - The company anticipates a turning point in its ambient liquid milk segment by 2026, expecting to lead the industry in achieving growth [1] Investment Rating - The report maintains a "Buy" rating for Yili Group [1]