Skip to Content
Morningstar

Yili Earnings: On Track To See Earnings Rebound in 2023

""
Securities In This Article
Inner Mongolia Yili Industrial Group Co Ltd Class A
(600887)

Wide-moat Yili 600887 reported 2022 and first-quarter 2023 results that largely met our expectations and, in our view, assured the market of its ability to navigate a challenging operating environment. The stock, which we perceived to be undervalued for some time, reacted positively following the report. We moderately raised our sales and profit estimates for the full year and retain our fair value estimate at CNY 42 per share, which implies 24 times 2023 P/E and is in-line with its 5-year average. We believe the stock continues to be undervalued and the company is on track to see earnings rebound in 2023.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

More in Stocks

About the Author

Jacky Tsang

Equity Analyst
More from Author

Jacky Tsang is an equity analyst for Morningstar Asia Limited, a wholly owned subsidiary of Morningstar, Inc. He covers the Greater China consumer defensive sector, which includes packaged food, home care, food retail, and personal products companies.

Before joining Morningstar, Tsang was the research lead at GfK, where he covered a variety of listed companies, notably in the consumer durables and electronics sectors across the Asia-Pacific region. He has presented as an industry expert at various sell-side investor conferences. He also worked previously with Coleman Research, where he conducted primary industry research and helped generate leads for clients seeking channel checks.

Tsang holds a bachelor's degree (first class) in English studies from The Hong Kong Polytechnic University.

Sponsor Center