Morningstar sets CNY 33.60 fair value for Yili stock

Published on 10/14/2026 at 16:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached CNY 64.49 billion, up 4.13 percent year over year. For Yili stock, net profit fell 20.02 percent.

Yili valuation and earnings picture

Morningstar assigned a CNY 33.60 fair value estimate on October 2, 2026.
First-half revenue rose 4.13 percent to CNY 64.49 billion in 2026.
Yili approved a CNY 1.0 billion to CNY 2.0 billion share buyback plan on October 10, 2026.

Yili, CNE000000JP5, Illustration mit AI erstellt.

Morningstar set a CNY 33.60 fair value estimate for Yili stock on October 2, 2026, as it began coverage of Inner Mongolia Yili Industrial Group. The valuation contrasts with weaker first-half earnings, where a one-time impairment charge weighed heavily on profit.

Three dated developments

On September 27, 2026, Futunn reported that Yili's first-half 2026 operating revenue reached CNY 64.49 billion, up 4.13 percent year over year, while net profit attributable to shareholders fell 20.02 percent to CNY 5.76 billion. On October 2, 2026, Morningstar published its CNY 33.60 fair value estimate. On October 10, 2026, a company announcement reported a planned share buyback worth CNY 1.0 billion to CNY 2.0 billion, with the shares intended for cancellation, according to Phoenix Finance.

What drives the earnings gap?

The key distinction is between reported profit and underlying operations. In the second quarter of 2026, revenue reached CNY 29.665 billion, up 2.59 percent year over year, but net profit attributable to shareholders dropped 84.35 percent to CNY 364 million.

Futunn reported total asset impairment losses of CNY 2.46 billion in the first half of 2026, mainly linked to goodwill impairment and inventory write-downs related to Ausnutria. The same report said second-quarter income tax expenses increased by CNY 600 million year over year, creating another identifiable drag on net profit.

Shanghai valuation in context

Yili's liquid milk business generated CNY 16.494 billion in second-quarter 2026 revenue, up 0.05 percent year over year, while frozen desserts grew 13.39 percent to CNY 4.676 billion. The contrast points to a mixed operating picture rather than a uniform slowdown across the portfolio.

The shares were last quoted at CNY 28.13 on the Shanghai Stock Exchange on October 14, 2026 at 3:00 p.m. CST. The reported 52-week range was CNY 23.76 to CNY 29.78, placing the quote CNY 1.65 below the yearly high.