Angel Yeast Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	16,008	15,134	13,550	12,791	10,607	8,884
Other Revenue	63.35	63.35	35.29	52.09	68.79	49.12
Revenue	16,071	15,197	13,585	12,843	10,675	8,933
Revenue Growth (YoY)	8.27%	11.86%	5.78%	20.31%	19.50%	16.73%
Cost of Revenue	12,079	11,675	10,328	9,711	7,789	5,939
Gross Profit	3,992	3,522	3,257	3,132	2,887	2,994
Selling, General & Admin	1,481	1,320	1,164	1,119	1,027	959.56
Research & Development	657.62	631.67	601.4	536.13	475.2	386.19
Other Operating Expenses	232.29	100.15	101.19	93.34	87.06	79.45
Operating Expenses	2,365	2,045	1,898	1,780	1,596	1,420
Operating Income	1,627	1,477	1,359	1,352	1,290	1,575
Interest Expense	-156.91	-106.96	-67.82	-84.98	-69.42	-57.57
Interest & Investment Income	18.5	19.15	27.87	32.82	17.64	11.39
Earnings From Equity Investments	-4.09	-4.09	-2.04	-	-	-
Currency Exchange Gain (Loss)	34.72	34.72	32.42	60.77	-13.49	-51.77
Other Non Operating Income (Expenses)	-21.92	-15.51	1.23	-9.03	-5.31	-6.42
EBT Excluding Unusual Items	1,498	1,404	1,350	1,351	1,220	1,470
Gain (Loss) on Sale of Investments	1.65	-0.01	-0.01	-	-	-3.35
Gain (Loss) on Sale of Assets	-2.28	-4.11	49.85	0.6	0.5	0
Asset Writedown	-50.69	-7.3	-9.58	-7.82	-1.48	-13.81
Other Unusual Items	354.89	180.88	138.39	250.93	298.11	174.14
Pretax Income	1,816	1,589	1,529	1,595	1,517	1,627
Income Tax Expense	281.85	235.65	214.82	246.14	195.36	205
Earnings From Continuing Operations	1,534	1,353	1,314	1,349	1,321	1,422
Minority Interest in Earnings	-46.47	-28.35	-41.53	-27.65	-12.95	-50.62
Net Income	1,488	1,325	1,273	1,321	1,309	1,372
Net Income to Common	1,488	1,325	1,273	1,321	1,309	1,372
Net Income Growth	13.46%	4.07%	-3.67%	0.97%	-4.59%	52.14%
Shares Outstanding (Basic)	860	855	860	842	824	824
Shares Outstanding (Diluted)	866	860	860	842	825	824
Shares Change (YoY)	1.73%	0.02%	2.19%	2.06%	0.06%	-0.01%
EPS (Basic)	1.73	1.55	1.48	1.57	1.59	1.66
EPS (Diluted)	1.72	1.54	1.48	1.57	1.59	1.66
EPS Growth	11.52%	4.05%	-5.73%	-1.07%	-4.64%	52.14%
Free Cash Flow	872.89	-67.13	-382.12	-1,467	-670.32	1,086
Free Cash Flow Per Share	1.01	-0.08	-0.44	-1.74	-0.81	1.32
Dividend Per Share	0.550	0.550	0.500	0.500	0.500	0.495
Dividend Growth	10.00%	10.00%	-	-	1.06%	23.68%
Gross Margin	24.84%	23.18%	23.98%	24.39%	27.04%	33.52%
Operating Margin	10.13%	9.72%	10.00%	10.53%	12.09%	17.63%
Profit Margin	9.26%	8.72%	9.37%	10.29%	12.26%	15.35%
Free Cash Flow Margin	5.43%	-0.44%	-2.81%	-11.42%	-6.28%	12.16%
EBITDA	2,518	2,302	2,095	1,943	1,832	2,074
EBITDA Margin	15.67%	15.14%	15.42%	15.13%	17.16%	23.22%
D&A For EBITDA	890.91	824.68	736.38	591.36	541.49	499.7
EBIT	1,627	1,477	1,359	1,352	1,290	1,575
EBIT Margin	10.13%	9.72%	10.00%	10.53%	12.09%	17.63%
Effective Tax Rate	15.52%	14.83%	14.05%	15.43%	12.88%	12.60%
Revenue as Reported	16,071	15,197	13,585	12,843	10,675	8,933
Advertising Expenses	-	231.67	177.6	235.91	194.82	212.71

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.