Domestic dairy giant Yili Group records a total operating income of 73.77 billion yuan in the first three quarters of 2020, a year-on-year growth of 7.42 percent. [Photo provided to chinadaily.com.cn]

Inner Mongolia Yili Industrial Group Co (Yili Group) achieved a total operating income of 73.77 billion yuan ($10.98 billion) in the first three quarters of 2020, a year-on-year growth of 7.42 percent, despite the impact of the COVID-19 pandemic.

During the period, Yili's net profit was 6.04 billion yuan, a year-on-year increase of 7 percent.

Analysts pointed out that Yili's steady growth against the trend is not only due to the macro background of China's rapid economic recovery and structural upgrading of market demand, but also a manifestation of Yili's long-term stable development of the entire industry chain's competitive advantages and anti-risk capabilities.

It is worth noting that against the background of epidemic prevention and control normalization, Yili launched an intensive series of major investment projects in North China's Inner Mongolia autonomous region to further enhance the depth and breadth of its industrial chain layout.

The core area project of the Yili Modern Smart Health Valley in Hohhot will take the dairy industry and high-tech industries as its core, drive the synergy of the primary, secondary and tertiary industries, and realize the common development and mutual benefit of the entire dairy industry chain.

In addition, while ensuring the company's own steady growth, Yili's support to its partners has also greatly promoted the healthy development of the industry.

In the face of the sudden epidemic, Yili provided 670 million yuan of financing to its partners in less than 50 days.

From January to September 2020, some 5.2 billion yuan of financing was issued.

Over the next five years, Yili will also support the upstream dairy industry in terms of capital, technical services, high-quality dairy cows, and forage planting, so as to promote the common development of the industrial chain.