In the past few days, I went to Inner Mongolia and participated in the research of Yili, and I learned a lot. The biggest insight is that this is a company that will become the world’s number one company in the future. This is why I have been researching for so many years. The reason for heavy positions in individual stocks!
I have learned a lot from this research on Yili. I will follow the chronological order of the research process and talk about the insights that had a great impact on me!
First, it is not easy for a company like Yili to appear in Inner Mongolia!
Why do you say that? First, the economy of Inner Mongolia is not as good as I thought. You can see this by looking at the subway!
It was 11:30. I got off the plane and got on the subway to take pictures. This should be the subway with the fewest people I’ve ever been on. Even if I got to the last stop, there were still many seats. The heart-warming thing is that every seat There are cushions, which should be taken into account when it is cold, it is not cold to sit, which also shows that it is still very humane!
This is the line up when the plane is approaching Hohhot. If you look carefully, there is very little vegetation!
This one is clearer, the mountains in the distance, with less vegetation! In fact, this also provides very good growing conditions for the grass that the cattle eat! This is also a unique advantage!
Let’s look at the distribution map of China’s pastures. One of the most direct data is that North China, dominated by Inner Mongolia, occupies half of China’s pastures. The core production areas of China’s dairy products are all in the core area of North China Pastures! What do you think of? In fact, this is the advantage of resource endowment. Just like Sichuan and Guizhou are rich in liquor, just like there are many coastal electronic technology companies, the advantage of natural resource endowment is the biggest moat of a company! Seize this invisible moat to be even more powerful! Let’s look at Maotai, one company drives one party, and so does Yili!
Second, a high-standard investment day exchange!
The biggest difference between researching a company and reading data every day is that you can personally feel the atmosphere of the employees!
This meeting was held at Shangra Hotel, so it should be very high-end!
The left and right sides of the entrance are all products sold by Yili in the market. If you have any questions, the person in charge will give detailed answers!
This is the new product launched this year. There are small bubbles in An Muxi, and the taste is still good!
Another high point is that all the executives participated and answered the questions one by one. This is also a rare situation among many research companies. The whole answer mainly introduces the development and trends of Yili’s various businesses!
Third, the next few years, the world’s first!
Doing a business is like taking an exam. It’s a little hard to get the first place in the class, it’s even harder to get the first place in the school, it’s even harder to get the first place in the city, and it’s even harder to get the first place in the province! However, Yili is not only considering the number one in the province, but also the number one in the country and the number one in Asia. In the next few years, it will still strive to be the number one in the world!
As you all know, among Yili’s major business units, pure milk is the first, ice cream is the first, yogurt is the first, and milk powder is now the top three. It is estimated that it will be the first in the next 3-5 years. Increase!
Yili’s mineral water has been sold in local hotels. I also saw it at the airport, but I didn’t take pictures! Of Yili’s five major businesses, three are already No. 1, and the remaining two have great potential for future development. At present, the comprehensive strength is No. 1 in Asia! The company’s development plan is to become the world’s third largest in 2025 and the world’s first in 2030. In fact, by 2030, not only will Yili become the world’s largest, but China will also surpass the United States to become the world’s largest country. This is the national fortune!
Fourth, the future consumption space is very large!
Let’s look at this picture. Process milk will only account for 50% in 2020, which means that there is still a lot of room for development. The national dairy industry revitalization and development plan requires domestic production to achieve 70%. This 3% increase is still very large. space!
Look at this indicator again, per capita consumption! We are one-third of the world average and one-sixth of the developed countries. I am taking specific data. The average annual milk consumption in my country is 30kG, and the world average is 107kG. According to a bottle of 250 ml, the world average is 400 Bottle, the domestic is 120 bottles, that is, the world average is one bottle per person per day, and the domestic is one bottle every three days! Whether you like to drink or not, at least the nutritional value is stronger than carbonated drinks, and it is a healthy product. It is better to drink than not to drink!
Fifth, intelligent production line!
The above four pictures are of Yili’s production workshop, which was only put into production in July. It is very intelligent. It seems that some investors will develop and visit in the future. We are the first batch to investigate! The scale is large and the intelligence is very high. Only a few maintenance personnel are seen, and the others are monitoring equipment in the office. This should be a development trend of all manufacturing industries! Inside, there is an air conditioner, which is very comfortable. I thought that in the future, almost all enterprises will use this model, so it is also a good opportunity for basic industries such as electricity and gas!
Today, I saw a big tripod on the road, China Milk Capital, watching Yili from 10 billion in revenue to 100 billion in revenue, and the net profit will soon exceed 10 billion, the future is still worth looking forward to!
A good company is a well-known brand company. No matter where you are, where there is milk, there is Yili. This channel is no less than Coca-Cola. No matter how old you are, whether you are a child or an elderly person, when it comes to drinking, Baijiu people know that Maotai, milk People know Yili, the brand influence is no less than that of Maotai! Moreover, behind Yili, it also drives the development of an industry, and the value of social significance is immeasurable! The above points are the five insights from my research on Yili, and I will share them with you. If you have any questions, you can also leave a message to ask questions!
$Yili (SH600887)$ $Kweichow Moutai (SH600519)$ $China Ping An (SH601318)$
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