On April 22nd, Anhui Hyea Aromas Co., Ltd. (referred to as “Hyea Aromas”), a company based in Anhui Province, released its annual report for the year 2023. According to the report, Hyea Aromas achieved a revenue of 269 million yuan ($37.13 million) last year, representing a year-on-year increase of 5.72%. However, the net profit attributable to the shareholders of the listed company incurred a loss of 3.9458 million yuan ($544,600 thousand), a year-on-year decrease of 118.99%. The non-GAAP net profit showed a loss of 7.2479 million yuan ($1 million), a year-on-year decrease of 151.30%.
In the annual report, Hyea Aromas stated that the company incurred a net loss in the previous year, which was influenced by factors such as fluctuating product prices and reduced exchange gains. Additionally, the company significantly improved the collection of accounts receivable, leading to a substantial increase in operating cash flow compared to the previous year. The main business and core competitiveness remained fundamentally unchanged, and the overall operational condition was good, with no risk to the company’s ability to continue operating.
Looking ahead, Hyea Aromas expressed its commitment to operational reform, market-oriented approaches, continuous advancement in new processes and technologies, and accelerated progress in the technical verification and optimization of new lactone series products. Simultaneously, the company aims to establish sound governance for the listed company and develop medium to long-term strategic plans that align with its actual business situation, in order to promote sustainable development.
Public information indicates that Hyea Aromas primarily engages in the research, production, and sales of lactone series flavors. Their main products include gamma-lactone and delta-lactone series flavors, which are widely used in the food and beverage, personal care, tobacco, and feed industries. Currently, over 60% of the company’s products are exported overseas, and stable relationships have been established with companies such as Firmenich, Givaudan, International Flavors & Fragrances, and Procter & Gamble.
