ANGEL YEAST(SH:600298) Cai Jing Wang·2025-04-18 08:20Group 1 - The company reported a decline in gross profit margin by one percentage point compared to the previous year, influenced by various factors including factory costs, expense ratios, and market sales prices [1] - The new factory's capacity is not fully saturated but has generally met expectations, with high depreciation costs impacting gross margin [1] - The company plans to adopt flexible pricing strategies based on regional and market operations, rather than strictly following competitors [2] Group 2 - The company is restructuring its internal framework to improve efficiency by consolidating related business units, which is expected to save costs and human capital [2] - The company sees significant growth potential in its food raw materials business, despite lower profit margins compared to competitors in the yeast sector [2] - The company is expanding its international presence, with two overseas production bases accounting for 20% of total capacity and 40% of revenue, aiming to mitigate raw material cost fluctuations and transportation expenses [3] Group 3 - The company is building a factory in Indonesia as part of its internationalization strategy, leveraging local partnerships due to the country's large population [3] - The depreciation schedule for the new factory is still under development as it is currently in the construction phase [3]