Angel Yeast (600298.SH) announced that in order to further promote the healthy development of Angel Yeast (Chifeng) Co., Ltd. ("Chifeng Company"), a wholly-owned subsidiary of the Company, and ensure the supply of molasses raw materials, it is planned to build a new 40,000 tons of molasses storage tanks and warehousing supporting projects, with a total construction of 31.88 million yuan.
After the completion of the project, the overall molasses storage capacity of Chifeng Company reached 120,000 tons, and the capacity of molasses storage tanks was increased from less than 50% before the implementation of the project to 80% of the existing ones, which can further meet the existing production conditions and ensure the supply of yeast raw materials.
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