Net profit reached 5.63 billion yuan (798 million U.S. dollars) in the nine months, Yili said in its quarterly financial report filed to the Shanghai Stock Exchange.
Meanwhile, the dairy giant generated a revenue of 68.5 billion yuan, an annual increase of 12.6 percent.
Boosted by the steady earnings growth, shares of Yili jumped 6.93 percent to 29 yuan at 11:30 a.m. Thursday in Shanghai.
U.S. Senator Kirsten Gillibrand, chair of the Senate Agriculture Subcommittee on Livestock, Dairy, Poultry, Local Food Systems, and Food Safety and Security, praised the U.S. Department of Agriculture’s (USDA) decision to reinstate the “higher of” Class I pricing formula for milk.
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