January 31, 2024

    

Angel Yeast seeks to advance development through innovation in 2024

 

 

Angel Yeast recently unveiled its ambitions for 2024 — building on the achievements of 2023 and upholding high standards across various indicators, the company aims to pursue high-quality development fueled by innovative technologies this year.

 

"On behalf of Angel Yeast, we would like to extend our New Year wishes to everyone," said Xiong Tao, chairman of Angel Yeast. "We are grateful to our 12,500 hardworking employees who have made exceptional contributions to the company's growth despite facing numerous challenges. Looking ahead, we are committed to innovation-driven development, global expansion and seizing opportunities in international markets.

 

"Additionally, we remain dedicated to environmental protection and sustainable development, as we strive towards a prosperous and sustainable future."

 

Last year, Angel Yeast made significant investments including:

 

    - An investment of over ¥900 million (US$126 million) in R&D;

 

    - The establishment of a research institute, 10 technology centers and 23 internal research platforms;

 

    - The launch of over 200 new products as well as obtaining 123 authorised patents.

 

As a result, Angel Yeast's yeast protein received approval as a new national food ingredient in China. The company's dedication to innovation was also acknowledged internationally through the project of Dr. Sun Yafang's team and achievements in yeast extract technology in the Chinese patent field, Angel Yeast added.

 

In addition to investing in R&D, Angel Yeast prioritised talent development in 2023, with relevant developments including:

 

    - Attracting 667 talented individuals;

 

    - Promoting 42 young cadres.

 

Moving forward into 2024, Angel Yeast expressed commitment to making innovation its primary driving force and continues to encourage innovation.

 

Last year, Angel Yeast pursued its globalisation strategy, focusing on key markets such as the Middle East, Africa and the Asia-Pacific region, while also making significant efforts to develop new markets in North America and Europe, thus resulting in continued growth in overseas revenue.

 

This commitment to globalisation is further reinforced by the consistently high-speed growth achieved in Angel Yeast's overseas markets. In line with its globalisation efforts, Angel Yeast (Egypt) Co., Ltd. and Bosaba Company plan to establish a joint venture in Algeria, demonstrating the company's dedication to expanding its global presence.

 

Looking ahead to 2024, Angel Yeast aims to continue expanding its "going global" efforts. The company has ongoing capacity expansion projects at two overseas subsidiaries, with expected completion and operation in the coming year.

 

Additionally, Angel Yeast is planning the construction of new overseas production facilities to support its globalisation goals, further solidifying its presence in international markets.

 

Angel Yeast's dedication to environmental protection and sustainable development was recognised in 2023, the company added. It received a bronze medal from EcoVadis, an achievement that placed Angel Yeast among the top 42% of globally assessed companies.

 

Menawhile, the company is making plans based on the areas highlighted for improvement in the EcoVadis report. This year, it will focus on strengthening the management of hazardous substances, actively promoting resource recycling and striving to minimise waste. By doing so, Angel Yeast hopes to contribute to building a sustainable and better future.

 

Overall, Angel Yeast's resolutions for this year revolve around driving high-quality development through technological innovation, pursuing globalisation strategies, and building a sustainable future, the company said.
 

- Angel Yeast