Major products of Inner Mongolia Yili Industrial Group [Photo/Yili Group]

China's largest dairy producer, Inner Mongolia Yili Industrial Group Co Ltd, posted a 19.26 percent year-on-year increase in revenue in the first half of this year, according to its financial report released on Aug 30.

Yili said its revenue reached nearly 40 billion yuan ($5.84 billion) in the first six months, with a net profit of 3.47 billion yuan.

In the first half, its major products including Joy Day, Satine, and Ambrosial reported a 30 percent increase in sales revenue.

According to Yili, it has 11 brands with annual sales revenue over one billion yuan. And its Ambrosial yogurt’s annual revenue has surpassed 10 billion yuan.

The dairy player's continuous innovation in technologies, quality control, and supply chain management contributed to its sound operating results and maintained it in the top position in the dairy industry.

Innovation plays a decisive role in pursuing high-quality growth for Chinese enterprises, according to Xin Wang, president of the research institute of the weekly newspaper Economic Observer.

“Yili's efforts in innovation helps inject vitality into the dairy industry in the country and set an example for Chinese enterprises,” he added.