[Tianfeng Food & Beverage] Angel Yeast: Yeast Protein Growth Exceeds Expectations 20260729

English summary

### [Tianfeng Food & Beverage] Angel Yeast: Yeast Protein Growth Exceeds Expectations 20260729 Time: 2026-07-30 10:21:10 Content: Recent capital rebalancing is positive for the consumer sector. Angel's yeast protein business is one of the few growth highlights in the sector. The logic is as follows: 1. What is yeast protein? Yeast protein is a protein obtained from Saccharomyces cerevisiae through enzymatic extraction. Since it was approved as a new food ingredient in China at the end of 2023, it can be used as a substitute for whey protein and soy protein. 2. Why is yeast protein in short supply? First, global quality protein prices continue to rise. Due to the use of GLP-1 weight-loss drugs, U.S. consumer demand for whey protein keeps increasing, but whey protein is a byproduct of cheese and is difficult to increase production alone. Currently, whey protein prices have risen to 120,000-200,000 yuan/ton, while yeast protein is only 30,000-50,000 yuan/ton. In addition, although soy protein is cheaper, it has GMO issues and risks of being "strangled." #Therefore, the country has encouraged the research and development of new quality protein in recent years. ...