Yili recently ranks fifth among the top five global dairy producers, and has ranked first in the Asian dairy industry for nine consecutive years. [Photo provided to en.hhhtnews.com]

Inner Mongolia Yili Industrial Group Co Ltd (also known as Yili) ranked among the top five dairy producers worldwide in the Rabobank 2022 Global Top 20 Dairy Report released on Aug 17, with its turnover hitting $18.2 billion.

According to the data release, Yili ranked first in the top 20 in terms of turnover growth rate with a growth rate of 31.7 percent.

Published annually, the Rabobank Global Top 20 Dairy Report is a survey of the world's largest dairy companies. It is recognized as one of the most authoritative and influential rankings in the dairy industry.

The minimum revenue threshold for the top 20 is $5 billion, while the revenue threshold for entering the top 5 has soared to $18.2 billion.

Yili dairy products [Photo provided to en.hhhtnews.com]

Due to the impact of the COVID-19 pandemic, dairy enterprises are facing unprecedented challenges. As a leader in China's dairy industry, Yili has achieved a continuous increase in the market share of all products through product structure optimization and category innovation, becoming the first dairy company in Asia with an annual operating income exceeding 100 billion yuan ($14.73 billion).

Through continuous product and technological innovation, liquid milk and cold drinks – both traditional Yili businesses – achieved operating incomes of 84.91 billion yuan and 7.16 billion yuan, respectively, in 2021, increases of 11.54 percent and 16.28 percent year-on-year and ranking first in the market.

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

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