HOHHOT, China, Nov. 1, 2021 /PRNewswire/ -- Inner Mongolia Yili Industrial Group Co., one of China's dairy industry giants, reported an operating income of 85 billion yuan ($13 billion) in the first three quarters of 2021, a year-on-year growth of 15.23 percent, according to the company's performance report released on Oct 28.
During the period, net profits stood at 7.97 billion yuan, a year-on-year increase of 31.82 percent.
According to the performance report, Yili's liquid milk, cold drinks and other businesses continue to maintain an absolute market leadership position. Yili's high-growth categories such as cheese, mineral water, low-temperature milk, and formula milk powder have maintained rapid growth.
Statistics show that in the nine-month period, Yili's infant formula business has achieved year-on-year growth of more than 30 percent.
The latest data from Nielsen shows that in September 2021, Jinlingguan, Yili's infant formula milk powder brand, became the fastest growing infant formula brand in the Chinese market.
Yili invested in Ausnutria Dairy Corporation and became its biggest shareholder on Oct 27, bolstering its position in the infant formula milk powder and nutritious food sector.
The two will cooperate in terms of supply chain, channels, and product layout.
Yili's smart factory has realized unmanned and intelligent management and control, and guarantees the highest possible quality for its products.
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Caption: A promotional poster for Yili Group
Caption: A selection of dairy products made by Yili Group