China Mengniu Dairy Co has beaten home rival Inner Mongolia Yili Industry Group to be the nation's biggest dairy maker after netting sales revenue of 21.3 billion yuan (US$3.04 billion) last year.
Mengniu said it is the first Chinese dairy maker to see revenue exceeding 20 billion yuan. The sales revenue for 2007 was 5.1 billion yuan, or 31.2 percent, higher than in 2006, it said.
Inner Mongolia Yili reported a sales revenue increase of 18 percent to 19.2 billion yuan.
Mengniu said profits has grown by 28.66 percent to 935.8 million yuan for last year from a year earlier.
Sales rose with the launch of more value-added products after it had spent 1.2 billion yuan to build an advanced factory as well as investing heavily in research and development.
Mengniu said it gained the biggest market share in the overall dairy industry and was also the best seller in the liquid milk market with leading position in the nation's ice cream and yogurt markets, the statement added.
Its aim was to be among the top 20 dairy makers in the world by 2011.