Recently, Yuanji Foods submitted its listing application to the Hong Kong Stock Exchange. Its operating figures show a mix of scale expansion and mounting profitability pressure. In 2023 and 2024, the company recorded revenue of RMB 2.026 billion and RMB 2.561 billion, respectively, up 26.4% year over year. Revenue for the first three quarters of 2025 reached RMB 1.982 billion, up 11% year over year. While revenue continued to grow, the growth rate clearly slowed. Profitability fluctuated significantly: net profit fell 15% year over year in 2024 to RMB 142 million, then rebounded to RMB 142 million in the first three quarters of 2025 (matching the full-year 2024 level in just nine months). Adjusted net profit was RMB 192 million, up 31% year over year, with the increase largely driven by a reduction in share-based payment expenses.
When a cell is edited, Sabela computes the transitive closure of a cell’s dependencies. The engine performs a naive parse over the code to extract: definitions (symbols introduced via let, data, type, or top-level assignment), and usages (all identifier tokens found within the cell). This is a “greedy” lexical scan rather than a full AST parse (it captures tokens but doesn’t resolve scopes)
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Александра Качан (Редактор)
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