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One of China's largest beer producers, maker of the Yanjing beer brand and other regional labels.
One of China's largest beer producers, maker of the Yanjing beer brand and other regional labels.
Sells beer through distributors who resell to shops, bars and restaurants, so profit rests on volume and the mix of pricier bottles and cans. Beijing and north China are its home territory. Beijing Enterprises, the Beijing city government's state holding group, is the controlling shareholder.
In one line: China's Pabst/Miller-scale regional beer maker.
Moat: narrow (brand, distribution, scale). One of China's 'big four' national beer brands with deep regional distribution, especially Beijing.
Headquarters: Beijing, China · Founded: 1980 · Employees: 19,412
Size Beijing Yanjing Brewery (000729.SZ) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $4.82B, the 522nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.40 on 6 Nov 2026.
Performance Over six months the shares fell 14.3%, against +0.1% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median -4.0%); the operating margin is 16.2% (peer median 14.7%).
Valuation It trades at 15.7× forward earnings against a peer median of 18.4× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.0 points above its cost of capital (6.3% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥15.9B | CN¥14.2B | CN¥13.6B | CN¥13.1B | CN¥12.2B |
| Revenue growth | — | +5% | +3% | +8% | — |
| Gross profit | CN¥7.73B | CN¥5.34B | CN¥4.63B | CN¥4.02B | CN¥3.66B |
| EBITDA | n/a | CN¥2.63B | CN¥2.02B | CN¥1.38B | CN¥1.19B |
| Net income | CN¥2.04B | CN¥1.68B | CN¥1.06B | CN¥645M | CN¥352M |
| Free cash flow | CN¥1.08B | CN¥1.64B | CN¥1.74B | CN¥999M | CN¥1.24B |
| Capital expenditure | CN¥1.94B | CN¥1.27B | CN¥962M | CN¥533M | CN¥509M |
| Total debt | CN¥754M | CN¥739M | CN¥813M | CN¥544M | CN¥325M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Beijing Yanjing Brewery 000729.SZ | $4.82B | -14% | +7% | 16% | 15.7× | -4.2% |
| Chongqing Brewery 600132.SS | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% |
| Guangzhou Zhujiang Brewery 002461.SZ | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% |
| China Res Beer 0291.HK | $8.66B | -18% | +3% | 15% | 10.7× | -1.5% |
| Tsingtao Brewery 600600.SS | $9.03B | -16% | -4% | 16% | 16.2× | -5.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000729.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +7.9% | 6th lowest of 21 |
| 6-month return | -14.3% | +0.1% | 7th lowest of 21 |
| Distance from 52-week high | -21.7% | -18.5% | 9th lowest of 21 |
| Revenue growth (TTM) | +6.5% | -4.0% | 4th highest of 20 |
| Operating margin | 16.2% | 14.7% | 8th highest of 20 |
| Forward P/E | 15.7× | 18.4× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -4.2% | 1.9% | 7th least demanding of 16 |
| Growth delivered (Del g) | +7.3% | +6.2% | 7th highest of 16 |
| Hurdle (Req g minus delivered) | -11.4 pp | -7.8 pp | 5th least demanding of 16 |
| ROIC minus cost of capital | +10.0 pp | +2.5 pp | 6th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Yanjing Brewery 000729.SZ | China | $4.82B | -14% | +7% | 16% | 15.7× | -4.2% | +7.3% |
| Sapporo Breweries 2501.T | Japan | $5.34B | +24% | -6% | 5% | 2.8× | 14.8% | +3.1% |
| Anhui Yingjia Distillery 603198.SS | China | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% | +11.7% |
| Takara 2531.T | Japan | $3.84B | +75% | +9% | 4% | 34.6× | n/a | n/a |
| Radico Khaitan RADICO.NS | India | $6.37B | +33% | +16% | 17% | 66.7× | 45.1% | +20.5% |
| Jiangsu King's Luck Brewery Joint-stock 603369.SS | China | $6.40B | +25% | -5% | 33% | 16.2× | 1.9% | +15.3% |
| Treasury Wine Estates TWE.AX | Australia | $3.56B | +52% | -12% | 17% | 18.4× | 9.3% | -0.4% |
| ZJLD 6979.HK | Hong Kong | $3.41B | -3% | -29% | 13% | 27.6× | n/a | n/a |
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| Anhui Gujing Distillery 000596.SZ | China | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% | +12.7% |
| Molson Coors Canada TPX-B.TO | Canada | $7.38B | -12% | n/a | n/a | n/a | n/a | n/a |
| Molson Coors Beverage TAP | United States | $7.54B | -4% | -2% | 12% | 9.2× | -4.7% | +2.9% |
| Remy Cointreau RCO.PA | France | $3.08B | +30% | -5% | 16% | 29.2× | 17.0% | -1.5% |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |
| Jiangsu Yanghe Distillery 002304.SZ | China | $8.50B | -23% | -31% | 4% | 32.6× | n/a | n/a |
| Thai Beverage Public Y92.SI | Singapore | $8.56B | +2% | -8% | 13% | 10.6× | -4.7% | +3.2% |
| China Res Beer 0291.HK | Hong Kong | $8.66B | -18% | +3% | 15% | 10.7× | -1.5% | +3.1% |
| Davide Campari-Milano CPR.MI | Italy | $8.93B | +22% | -1% | 20% | 21.0× | 3.6% | +11.5% |
| Tsingtao Brewery 600600.SS | China | $9.03B | -16% | -4% | 16% | 16.2× | -5.1% | +3.4% |