Jiangsu Yanghe Brewery JSC Ltd Class A
002304: XSHE (CHN)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CNY 722.00 | Tvzmm | Wmldwlg |
Yanghe Is Back on Growth Amid Premiumization Efforts and Sales Channel Consolidation
Business Strategy and Outlook
Jiangsu Yanghe Brewery has become China's third-largest distillery by revenue since its IPO in 2009. Thanks to its strong brand equity and solid management execution, Yanghe has become the leader in the mid-range to premium segment and enjoys the second-best profitability among peers--its 43% historical five-year average operating margin is much higher than the 20% industry average.