A sweeping view of the Yili Future Intelligence and Health Valley in Hohhot [Photo provided to en.hhhtnews.com]

Inner Mongolia Yili Industrial Group Co – also known as Yili – generated total operating income of 63.46 billion yuan ($9.2 billion) in the first six months of this year, a year-on-year increase of 12.31 percent, according to the first-half financial report released on Aug 30.

Net profit hit 6.14 billion yuan in H1, a gain of 15.4 percent on the previous corresponding period by the company, which is based in Hohhot, capital of North China's Inner Mongolia autonomous region. 

In the first half, the growth rate of the company's milk powder and dairy products was 58.28 percent, ranking Yili Group first in the world. Of that, the growth rate for Yili's infant formula milk powder ranked first in the industry and adult milk powder ranked first in its market segment.

Furthermore, Yili Group ranked among the top five dairy producers worldwide in the Rabobank 2022 Global Top 20 Dairy Report released on Aug 17. According to the data report, the company ranked first in the top 20, in terms of its turnover performance with a growth rate of 31.7 percent.

Due to the impact of the COVID-19 pandemic, dairy enterprises are widely said to be facing unprecedented challenges. As a leader in China's dairy industry, Yili has reportedly achieved a continuous increase in the market share of all its products through product structure optimization and category innovation – becoming the first dairy company in Asia with an annual operating income exceeding 100 billion yuan.

Moreover, in recent years Yili has accelerated its development of a series of modern dairy industry clusters – in Inner Mongolia, Ningxia, Gansu, Heilongjiang, Henan, Shandong, Hebei and in other places across the country.

As a result, Yili is speeding up its pace of product innovation and is covering the full life cycle of the entire population, with the proportion of operating income from new products in the latest results remaining at 12.48 percent.