Jiangsu Yanghe Distillery Co Ltd Class A

002304: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥764.00	Bvpm	Blbyhqhym

Yanghe Faces Sales Pressure in 2024, Amid Demand Headwind for Subpremium Baijiu

Jennifer Song

Apr 30, 2024

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.

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