PR90986

YICHANG, China, Aug. 3, 2021 /PRNewswire=KYODO JBN/ --

Angel Yeast Co., Ltd ("Angel Yeast")(en.angelyeast.com), a listed high-tech

yeast company in China, today announces its first-half fiscal year 2021

financial and business results ending June 30, 2021.

Highlights of the report:

- H1 revenue increased 20.55% year-on-year to RMB 5.234 billion ($810 million)

- Net profit attributable to shareholders of listed companies rose by 15.14%

year-on-year to RMB 828 million ($128 million)

- Earnings per share (EPS) reached 0.9939 yuan, 13.93% year-on-year growth

- Robust performance of eight business units including baking, yeast extract

(YE)-savory and microbial nutrition helped exceed the H1 target ahead of time,

with OEM and trade achieving an outstanding growth rate of 40%

- The output of fermentation products was 12% higher than the same period last

year

"Angel Yeast's performance in H1 remained strong despite the lingering effects

of the COVID-19 pandemic and the challenge of increasing costs. Our revenue

ended well above our target for H1, and this positive result has placed us in a

very good position of achieving our final goal of the year. We are confident

that the strong momentum recorded in the first half of 2021 will continue

throughout the rest of the year, supporting the growth trend across all our

business units," said Xiao Minghua, General Manager of Angel Yeast.

Committed to becoming a global innovation powerhouse for biotechnology, Angel

Yeast has established itself as a leader of the industry, becoming the

third-largest yeast company in the world. Now, Angel Yeast has set up 12

factories across the globe and has expanded its global presence to more than150

countries and regions.

In addition to Angel Yeast's solid business performance, H1 has witnessed the

company making significant stride in pursuing technological innovation. In the

first half of 2021, Angel Yeast filed for 21 patents, of which 12 were granted.

It has also established an R&D institute and platform led by industry experts

and top-notch scientists, formulated industry benchmarks and standards for

yeast products and yeast green factories.

For years, digital transformation has been at the forefront of Angel Yeast's

business strategy, and 2021 marks another milestone in the company's long-term

effort of digitizing its business operations. During the reporting period,

Angel optimized its marketing and sales channels with digital tools,

strengthened its cybersecurity, as well as promoted smart manufacturing by

adopting a manufacturing execution system (MES) and setting up an industrial

database.

The outstanding performance of Angel Yeast's business operations in H1 comes as

the company's international and domestic expansion has achieved exceptional

success. Angel Yeast's products, of which 95% are self-developed, tops the

market share in 15 countries.

About Angel Yeast

Founded in 1986, Angel Yeast Co., Ltd specializes in the production of yeast

and yeast derivatives. Its product range includes baker's yeast and

ingredients, Chinese dim sum solutions, yeast extract-savory, human health,

animal nutrition, plant care, brewing & biofuels, microbial nutrition, and

enzymes. At present, Angel Yeast has 11 international advanced production bases

in China, Egypt, and Russia, and provides products and services for more than

150 countries and regions globally.

SOURCE: Angel Yeast