Shanxi Xinghuacun Fen Wine Factory Co Ltd Class A

600809: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Shanxi Fen Wine Earnings: Results in Line; Strong Cash Flow Suggests Early Demand Recovery

Jennifer Song

May 4, 2026

Shanxi Fen Wine's first-quarter revenue declined 10% and net profit fell 19% year on year. Nevertheless, cash receipts from sales rose 16% and operating cash flow grew 18% from a year ago. Advance payments also increased by CNY 0.9 billion from the prior quarter.

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Shanxi Xinghuacun Fen Wine Factory Co Ltd Class A

Shanxi Fen Wine Earnings: Results in Line; Strong Cash Flow Suggests Early Demand Recovery

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