Jiangsu Yanghe Brewery JSC Ltd Class A

002304: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CNY 292.00	Tthc	Zgqxbbnw

Yanghe's Profit Growth Is Accelerating

Jennifer Song

Sep 29, 2022

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 sound profitability, with operating margin of 42% on average over the past five-year average.

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