Yili Group reports an operating income of 93.86 billion yuan in the first three quarters of 2022. [Photo provided to en.hhhtnews.com]

Chinese dairy giant Inner Mongolia Yili Industrial Group Co – or the Yili Group – generated operating income of 93.86 billion yuan ($12.91 billion) and a net profit of 8.06 billion yuan in the first three quarters of the year, according to the company's third quarter report released on Oct 27.

Looking at the long-term, the group – based in Hohhot, capital of North China's Inner Mongolia autonomous region – has sustained growth for 29 consecutive years and is one of the only two companies in China's listed A-shares that have grown as such for the entire period.

A selection of Yili's dairy products. [Photo provided to en.hhhtnews.com]

From January to September, the company's various areas of businesses withstood the impact of the COVID-19 epidemic and its market share continued to expand.

During the three quarters, its revenue from liquid milk totaled 64.72 billion yuan and its scale and market share continued to rank top in the dairy industry.

According to Nielsen data, Yili pure milk and Jindian organic milk both achieved double-digit growth during the period. Yili's star products – Jindian Organic Milk and Anmuxi Greek Yogurt – continued to be the top brands in the sub-categories and Anmuxi's market share continued to expand.

During the first nine months, the revenue from cold drinks was 6.95 billion yuan, maintaining top place in the sales list and achieving a rapid growth of 32.4 percent.

Yili's Chocliz, one of the top ice cream brands, continued to remain top in the sector in terms of market share.

In the period, the operating income from Yili's milk powder and dairy products was 11.67 billion yuan, a whopping year-on-year increase of 60.5 percent. Of that, the growth rate of infant formula milk powder ranked first in the industry, adult milk powder ranked first in the market segment and the cheese business increased by more than 30 percent year-on-year.