Angel Yeast (600298) Q2 2026 earnings summary

Executive summary

• Achieved revenue of RMB 9.19 billion for H1 2026, up 16.30% year-over-year; net profit attributable to shareholders was RMB 880.95 million, up 10.21% year-over-year.

• Gross margin improved as a result of cost control and product mix optimization.

• Market expansion, product innovation, and brand influence continued to strengthen, with international business and new product lines showing robust growth.

Financial highlights

• Operating income: RMB 9.19 billion, up 16.30% year-over-year.

• Net profit attributable to shareholders: RMB 880.95 million, up 10.21% year-over-year.

• Operating cash flow: RMB 199.86 million, down 23.79% year-over-year.

• Basic EPS: RMB 1.03, up 9.57% year-over-year.

• Gross margin: 26.8%, up from 25.9% year-over-year.

Outlook and guidance

• Management expects continued growth in core yeast and derivative businesses, with focus on international expansion and product innovation.

• Ongoing investment in R&D and capacity expansion to support long-term competitiveness.