By Bao Kaili

Recently, Angel Yeast (600298.SH) announced a plan to invest around US＄16 million in the establishment of a subsidiary to build a cranberry candied-product project with a 10,000-ton annual output.

According to the announcement, in order to meet the market demand for the rapid growth of cranberry candied products and further enrich the product portfolio of health food raw materials, Angel Yeast plans to invest in the establishment of Angel Baiwei Food Technology Co., Ltd. to build a cranberry candied fruit project with an annual output of 10,000 tons.

According to the announcement, in recent years, the company's sales revenue of cranberry preserves has been growing continuingly. Due to the price hike and supply shortage of American suppliers, the risk of failing to meet the planning target on time shows.

New project will meet the market demand for the rapid growth of cranberry candied products and further enrich the product portfolio of health food raw materials