Angel Yeast (600298) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 4.53 billion, up 19.49% year-over-year.

• Net profit attributable to shareholders was RMB 425.93 million, a 15.08% increase year-over-year.

• Basic EPS rose to RMB 0.50, up 16.28% from the prior year.

• Operating cash flow was negative at RMB -370.48 million, down 45.74% year-over-year.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases.

• Total assets at quarter-end were RMB 25.66 billion, up 0.77% from year-end 2025.

• Shareholders’ equity increased 3.67% to RMB 12.46 billion.

• Non-recurring profit items contributed RMB 40.17 million to net profit.

• Weighted average ROE was 3.48%, up 0.12 percentage points year-over-year.

Outlook and guidance

• Management highlighted increased operating expenses and cash outflows, signaling a focus on cost control and cash management for the coming quarters.