Q1 Report 2021
In the first quarter of 2021, Angel Yeast achieved an operating revenue of 2. 656 billion Yuan, a year-on-year increase of 29. 55%, 442 million Yuan of net profit attributable to shareholders of the listed company, a year-on-year increase of 45. 74%, and the net profit after deducting non recurring profits and losses achieved 414 million Yuan, a year-on-year increase of 47. 61%.
The growth of revenue mainly comes from two aspects. One is the rapid growth of demand for traditional business. The domestic market share of the company is about 55%, which is still further improving. Second, the yeast deep processing products such as YE food seasonings and Animal nutrition grew rapidly. In the first quarter of this year, the sales of Angel Yeast's YE products increased by about 40% year on year, and sales of animal business products increased by about 50%.
Angel Yeast is still further strengthening its industrial chain. The company disclosed that it’s planed to invest 434 million Yuan to implement the green manufacturing project of the Dehong Company with an annual output of 15,000 tons of yeast extract to ensure the company's yeast extract product supply and quickly increase the company's yeast product production capacity. It is estimated that the annual sales revenue will increase by 261 million Yuan and the annual net profit will increase by 44. 31 million Yuan after the completion of the project.
Angel yeast is the largest yeast company in Asia and the third largest yeast company in the world. At present, the total production capacity of its yeast products exceeds 270,000 tons.