Yili, Mengniu finances in good shape due to innovation, economic recovery

Chinese dairy major players have enhanced their market presence by focusing on innovation, with China Mengniu Dairy and Inner Mongolia Yili Industrial Group Co Ltd exceeding market expectations in their half-year report of 2017.

Inner Mongolia Yili Industrial Group reported that its revenue increased 11.32 percent to 33.94 billion yuan ($5.14 billion) compared with the same period of last year. Its net profit has reached 3.37 billion yuan, up 4.52 percent, according to its half-year financial reports released on Wednesday.