Jiangsu Yanghe Distillery Co Ltd Class A

002304: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥422.00	Fyk	Wwmcffpk

China’s Reopening To Bolster Baijiu Demand, and Yanghe Positioned To Benefit

Jennifer Song

Jan 18, 2023

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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