Angel Yeast Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	17,393	16,654	15,134	13,550	12,791	10,607
Other Revenue	75.17	75.17	63.35	35.29	52.09	68.79
Revenue	17,468	16,729	15,197	13,585	12,843	10,675
Revenue Growth (YoY)	12.64%	10.08%	11.86%	5.78%	20.31%	19.50%
Cost of Revenue	13,178	12,653	11,675	10,328	9,711	7,789
Gross Profit	4,290	4,075	3,522	3,257	3,132	2,887
Selling, General & Admin	1,524	1,489	1,320	1,164	1,119	1,027
Research & Development	705.42	676.83	631.67	601.4	536.13	475.2
Other Operating Expenses	156.81	112.53	100.15	101.19	93.34	87.06
Operating Expenses	2,400	2,275	2,045	1,898	1,780	1,596
Operating Income	1,890	1,801	1,477	1,359	1,352	1,290
Interest Expense	-177.09	-171.66	-106.96	-67.82	-84.98	-69.42
Interest & Investment Income	30.95	30.82	19.15	27.87	32.82	17.64
Earnings From Equity Investments	-	-	-	-2.04	-	-
Currency Exchange Gain (Loss)	16.58	16.58	34.72	32.42	60.77	-13.49
Other Non Operating Income (Expenses)	-90.15	-11.56	-15.51	1.23	-9.03	-5.31
EBT Excluding Unusual Items	1,671	1,665	1,408	1,350	1,351	1,220
Gain (Loss) on Sale of Investments	-7.09	-5.95	-4.1	-0.01	-	-
Gain (Loss) on Sale of Assets	-0.48	-0.88	0.63	49.85	0.6	0.5
Asset Writedown	-22.35	-29.88	-12.04	-9.58	-7.82	-1.48
Other Unusual Items	281.87	235.75	180.88	138.39	250.93	298.11
Pretax Income	1,930	1,871	1,589	1,529	1,595	1,517
Income Tax Expense	288.53	282.23	235.65	214.82	246.14	195.36
Earnings From Continuing Operations	1,641	1,589	1,353	1,314	1,349	1,321
Minority Interest in Earnings	-41.16	-44.5	-28.35	-41.53	-27.65	-12.95
Net Income	1,600	1,544	1,325	1,273	1,321	1,309
Net Income to Common	1,600	1,544	1,325	1,273	1,321	1,309
Net Income Growth	16.32%	16.60%	4.07%	-3.67%	0.97%	-4.59%
Shares Outstanding (Basic)	865	868	855	860	842	824
Shares Outstanding (Diluted)	879	873	860	860	842	825
Shares Change (YoY)	2.26%	1.45%	0.02%	2.19%	2.06%	0.06%
EPS (Basic)	1.85	1.78	1.55	1.48	1.57	1.59
EPS (Diluted)	1.82	1.77	1.54	1.48	1.57	1.59
EPS Growth	13.75%	14.94%	4.05%	-5.73%	-1.07%	-4.64%
Free Cash Flow	674.43	777.45	-67.13	-382.12	-1,467	-670.32
Free Cash Flow Per Share	0.77	0.89	-0.08	-0.44	-1.74	-0.81
Dividend Per Share	0.550	0.550	0.550	0.500	0.500	0.500
Dividend Growth	-	-	10.00%	-	-	1.06%
Gross Margin	24.56%	24.36%	23.18%	23.98%	24.39%	27.04%
Operating Margin	10.82%	10.76%	9.72%	10.00%	10.53%	12.09%
Profit Margin	9.16%	9.23%	8.72%	9.37%	10.29%	12.26%
Free Cash Flow Margin	3.86%	4.65%	-0.44%	-2.81%	-11.42%	-6.28%
EBITDA	2,818	2,708	2,305	2,095	1,943	1,832
EBITDA Margin	16.13%	16.19%	15.17%	15.42%	15.13%	17.16%
D&A For EBITDA	927.63	907.71	828.06	736.38	591.36	541.49
EBIT	1,890	1,801	1,477	1,359	1,352	1,290
EBIT Margin	10.82%	10.76%	9.72%	10.00%	10.53%	12.09%
Effective Tax Rate	14.95%	15.08%	14.83%	14.05%	15.43%	12.88%
Revenue as Reported	17,468	16,729	15,197	13,585	12,843	10,675
Advertising Expenses	-	274.67	231.67	177.6	235.91	194.82

Source: S&P Global Market Intelligence. Standard template. Financial Sources.