安琪酵母加码印尼布局，斥资8.8亿建年产2万吨基地

Core Viewpoint - Angel Yeast, a leading global yeast company, is accelerating its international expansion by investing in a new yeast production project in Indonesia, with a total investment of 880 million RMB and an annual production capacity of 20,000 tons of yeast [1][2]. Group 1: Investment and Expansion - The Indonesian subsidiary of Angel Yeast plans to invest 880 million RMB to establish a yeast production project with a planned capacity of 18,800 tons per year for dry yeast and approximately 2,000 tons per year for fresh yeast [1]. - The project is expected to take 24 months to complete and is scheduled to commence production in 2027 [1]. - Angel Yeast has a significant stake of 80% in the Indonesian joint venture, with the remaining 20% held by a local partner [1]. Group 2: Market Position and Strategy - Angel Yeast is the largest YE supplier globally and the second-largest yeast supplier, with a total production capacity exceeding 400,000 tons and a domestic market share of 55% and a global market share of 19% [2]. - The company has been expanding internationally since 2010, establishing factories in countries such as Egypt and Russia, and continues to expand its production capacity [2]. - The decision to accelerate international expansion is influenced by slowing growth in the domestic market and high domestic prices for molasses, which account for 59.94% of production costs [2]. Group 3: Future Outlook and Revenue Growth - In the first three quarters of 2024, Angel Yeast's overseas revenue reached 4.257 billion RMB, representing a year-on-year growth of 21.77% and accounting for 39% of its main business revenue [3]. - The company aims to enhance its overseas market development, improve user service levels, and strengthen overseas channel construction to maintain high growth in international business [3]. - Angel Yeast plans to focus on the baking yeast market trends, enhance product development, and optimize customer service to improve market responsiveness [3].