On April 29th, Yili Group released its 2023 financial report and the first quarter report for 2024. The company achieved a total operating revenue of RMB 126.179 billion and a net profit attributable to shareholders of RMB 10.429 billion in 2023, reaching a new historical high and achieving steady growth for 31 consecutive years. In the first quarter of 2024, the company focused on value management and maintained healthy development, achieving a total operating revenue of 32.577 billion yuan and a net profit attributable to the parent company of 5.923 billion yuan. In 2024, we will continue to maintain the annual growth target unchanged.
According to the annual report, Yili plans to distribute a dividend of 7.639 billion yuan, with a dividend ratio of up to 73.25%. Public information shows that the company has distributed dividends 24 times since going public, with a total dividend amount of 50.859 billion yuan. The frequency, proportion, and amount of dividends are among the top in A-shares.
On the same day, the company announced its intention to repurchase shares of the company at a price not exceeding 41.88 yuan per share, with a repurchase amount not less than 1 billion yuan and not exceeding 2 billion yuan. The repurchased shares will be completely cancelled and the registered capital of the company will be reduced.
During the reporting period, Yili’s comprehensive category business led the way, with a liquid milk business achieving a revenue of 85.54 billion yuan, and its business scale and market share consistently ranking first; The revenue of milk powder and dairy products in 2023 was 27.598 billion yuan, a year-on-year increase of 5.09%, and the overall sales of milk powder have jumped to the top in the Chinese market. The operating revenue of the cold beverage business was 10.688 billion yuan, a year-on-year increase of 11.72%, with a growth rate far exceeding the industry level. The market share has remained the first for 29 consecutive years.
In addition, Yili’s overseas business has also performed well, with revenue increasing by 10.08% compared to the previous year, becoming a new driving force for the company’s performance growth.