Jiangsu Yanghe Brewery JSC Ltd Class A
002304: XSHE (CHN)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CNY 929.00 | Gmkt | Twrkgsj |
Yanghe Faces Sales Pressure in 2024, Amid Demand Headwind for Subpremium Baijiu
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 midrange to premium segment and enjoys sound profitability, with operating margin of 40% on average over the past five years.