全球第二大酵母公司安琪酵母（600298）发布了2025年半年报：营业收入约78.99亿元，同比增长 10.1%；归属于上市公司股东的净利润约7.99亿元，同比增长15.66%。 这份营收净利同比双增的"成绩单"一出，二级市场迅速做出反应。8月15日，安琪酵母领涨调味发酵品 板块，安琪酵母收盘报38.04元/股，单日增幅为6.79%，公司总市值约为330.24亿元。 记者注意到，海外市场是安琪酵母业绩稳健增长的主要动力之一，也是公司的重要布局对象，"公司在 海外市占率较低，有很多空白市场可以去覆盖。" 业绩两位数增长 酵母系列产品规模居全球第二 安琪酵母主营面包酵母、中华面食酵母、生物饲料添加剂、营养保健产品、食品原料等产品的生产和销 售，产品广泛应用于烘焙与发酵面食、酿造与生物能源等领域。此外，安琪酵母投资领域还涉及酶制 剂、制糖、塑印包材、融资租赁等。 财报显示，2025年上半年，安琪酵母实现营业收入约78.99亿元，同比增长10.1%；归属于上市公司股东 的净利润约7.99亿元，同比增长15.66%；经营活动产生的现金流量净额约2.62亿元，同比增长 394.68%。 安琪酵母上半年主营收入情况。公告截 ...

Core Insights - Angel Yeast, the world's second-largest yeast company, reported a revenue of approximately 7.899 billion yuan for the first half of 2025, representing a year-on-year growth of 10.1%, and a net profit of approximately 799 million yuan, up 15.66% year-on-year [1][3] - The company's stock surged by 6.79% on August 15, closing at 38.04 yuan per share, with a total market capitalization of approximately 33.024 billion yuan [1] - The growth in performance is attributed to significant improvements in channel and customer development, the active promotion of new products and businesses, rapid growth in international operations, and an increase in brand value [3] Financial Performance - For the first half of 2025, Angel Yeast's operating income was approximately 78.99 billion yuan, with a net profit of about 7.99 billion yuan [1][2] - The net cash flow from operating activities increased by 394.68% to approximately 262 million yuan [1][3] - As of June 30, 2025, the company's net assets attributable to shareholders were approximately 11.244 billion yuan, a 3.84% increase from the end of the previous year [3] Market Segmentation - Domestic revenue for the first half of 2025 was approximately 4.404 billion yuan, while international revenue was about 3.462 billion yuan [2][6] - The company has a domestic market share of 55% and a global market share exceeding 20% in yeast products, making it the second-largest in the world [3][5] - Angel Yeast exports to over 170 countries and regions, indicating a strong international presence [3] Strategic Focus - The company is focusing on expanding its overseas market presence, as it has a relatively low market share in many regions, presenting significant growth potential [4][6] - The gross profit margin for overseas business was 29.69%, compared to 19.87% for domestic operations, highlighting the profitability of international markets [7] - Angel Yeast plans to optimize its production and sales scheduling to ensure order fulfillment and enhance its marketing efforts in key markets [6][7] Future Developments - In July 2025, Angel Yeast announced plans to acquire a 55% stake in Hulunbuir Shengtong Sugar Technology Co., aiming to enhance its sugar segment and downstream business development [3]