Core Viewpoint - Yili Group is accelerating its internationalization process by launching its infant formula brand "Jinlingguan" in the Hong Kong market through a strategic partnership with Mannings, a well-known health retail chain in Hong Kong [1][6]. Group 1: International Expansion - Yili has been actively promoting its international business layout, with significant growth in overseas markets, particularly in Southeast Asia and Australia, becoming an important revenue growth driver [3]. - In 2024, Yili's revenue from milk powder and dairy products is projected to reach 29.675 billion yuan, representing a year-on-year growth of 7.53%, with overseas infant formula business growing by 68%, significantly outpacing the industry average [3]. Group 2: Market Strategy - The Hong Kong market is a key part of Yili's overseas strategy due to its mature high-end maternal and infant consumer base and its geographical advantage connecting mainland China and international markets [6]. - The partnership with Mannings allows Yili's "Jinlingguan" products to enter over 200 Mannings stores and online sales channels in Hong Kong, facilitating rapid access to consumers [6]. Group 3: Research and Development - Yili has established 15 global innovation and research centers, focusing on precision nutrition, life sciences, and functional foods, which support its product upgrades and create a technological moat in the global maternal and infant nutrition sector [6][8]. - The launch of the "2025 Key Research Findings on Breast Milk" highlights Yili's commitment to research depth and industrial application, showcasing 13 key research results that enhance its product differentiation and value [8]. Group 4: Product Development - The global product launch introduced two new special medical purpose infant formula products produced in New Zealand, further enriching Yili's product matrix for infants with special nutritional needs [10]. - Yili's systematic approach to channel development, brand recognition, and product R&D is driving its global business expansion, positioning Hong Kong as a strategic foothold for growth in the Asian market [10]. Group 5: Competitive Landscape - As global dairy competition intensifies, Yili's ability to integrate product strength, brand power, and channel capabilities will be crucial for gaining a competitive edge in the next round of global dairy competition [10]. - The entry of Yili's infant formula into the Hong Kong market marks a significant advancement in its international development strategy, with expectations to further solidify its leading position in the global dairy industry [10].