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Beijing's leading dairy company selling milk, yogurt and infant formula, majority owned by a Beijing state investment group.
Beijing's leading dairy company selling milk, yogurt and infant formula, majority owned by a Beijing state investment group.
Most sales are chilled milk and yogurt that must reach shelves within days, so a dense local delivery chain matters more than national reach, while infant formula sells at higher prices through a separate channel.
In one line: A regional state-linked dairy, like a Beijing-focused Dean Foods.
Moat: narrow (brand, distribution). Entrenched regional distribution and brand trust in Beijing dairy market.
Headquarters: Beijing, China · Employees: 5,604
Size Beijing Sanyuan Foods (600429.SS) is a China Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $973M, the 2344th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.33 on 6 Nov 2026.
Performance Over six months the shares fell 28.9%, against -7.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 0.5% over the last twelve months (peer median +2.5%); the operating margin is -1.0% (peer median 2.3%).
Valuation It trades at 23.4× forward earnings against a peer median of 27.8× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +28 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.0 points below its cost of capital (5.4% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.46B | CN¥6.33B | CN¥7.00B | CN¥7.84B | CN¥7.90B |
| Revenue growth | — | -10% | -11% | -1% | — |
| Gross profit | CN¥1.52B | CN¥1.36B | CN¥1.57B | CN¥1.76B | CN¥1.97B |
| EBITDA | n/a | CN¥230M | CN¥126M | CN¥178M | CN¥723M |
| Net income | -CN¥276M | -CN¥226M | CN¥54.8M | CN¥243M | CN¥40.3M |
| Free cash flow | CN¥199M | CN¥420M | CN¥341M | -CN¥8.51M | -CN¥683M |
| Capital expenditure | CN¥109M | CN¥80.3M | CN¥109M | CN¥205M | CN¥545M |
| Total debt | CN¥2.06B | CN¥2.19B | CN¥2.13B | CN¥2.24B | CN¥5.01B |
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 Sanyuan Foods 600429.SS | $973M | -29% | 0% | -1% | 23.4× | 24.8% |
| Inner Mongolia Yili Industrial 600887.SS | $29.3B | +15% | +2% | 9% | 19.2× | -0.1% |
| Mengniu Dairy 2319.HK | $10.5B | +28% | +3% | 5% | 14.7× | 6.7% |
| Bright Dairy & Food 600597.SS | $1.43B | -6% | -3% | 0% | 30.6× | 18.8% |
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 | 600429.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.0% | +0.7% | 3rd lowest of 21 |
| 6-month return | -28.9% | -7.0% | 2nd lowest of 21 |
| Distance from 52-week high | -40.5% | -24.2% | 5th lowest of 21 |
| Revenue growth (TTM) | -0.5% | +2.5% | 8th lowest of 20 |
| Operating margin | -1.0% | 2.3% | 6th lowest of 21 |
| Forward P/E | 23.4× | 27.8× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 24.8% | 11.8% | 2nd most demanding of 12 |
| Growth delivered (Del g) | -2.8% | +7.2% | lowest of 12 |
| Hurdle (Req g minus delivered) | +27.6 pp | -3.0 pp | most demanding of 12 |
| ROIC minus cost of capital | -4.0 pp | -2.1 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Sanyuan Foods 600429.SS | China | $973M | -29% | 0% | -1% | 23.4× | 24.8% | -2.8% |
| Zhejiang Huatong Meat Products 002840.SZ | China | $957M | -37% | -16% | -10% | n/a | n/a | n/a |
| Kwality Walls (India) KWIL.NS | India | $950M | +32% | n/a | -13% | n/a | n/a | n/a |
| Hunan New Wellful 600975.SS | China | $902M | -14% | -14% | -33% | n/a | n/a | n/a |
| HUANLEJIA Food 300997.SZ | China | $1.06B | -17% | +4% | 7% | 54.7× | n/a | n/a |
| Jinzi Ham 002515.SZ | China | $1.06B | -15% | -2% | -11% | 277.0× | n/a | n/a |
| Hilton Food HFG.L | United Kingdom | $889M | +39% | +7% | 1% | 14.1× | 18.5% | +8.7% |
| Savencia SAVE.PA | France | $871M | -11% | -2% | 3% | 5.4× | -3.8% | +6.2% |
| Umios 1333.T | Japan | $1.14B | -10% | +3% | 3% | n/a | n/a | n/a |
| NewPrinces NWL.MI | Italy | $1.16B | +40% | +81% | 1% | n/a | 0.6% | +44.5% |
| Shandong Oriental Ocean Sci-Tech 002086.SZ | China | $1.17B | +94% | +6% | -35% | n/a | n/a | n/a |
| Zhejiang Yiming Food 605179.SS | China | $1.27B | +22% | 0% | 2% | n/a | n/a | n/a |
| Prima Meat Packers,Ltd 2281.T | Japan | $724M | -9% | +5% | 2% | 12.8× | -1.2% | +1.9% |
| Scandi Standard SCST.ST | Sweden | $1.35B | +38% | +8% | 5% | 27.2× | 1.8% | +7.2% |
| MEGMILK SNOW BRAND 2270.T | Japan | $1.36B | +12% | 0% | 3% | 7.5× | n/a | n/a |
| Bega Cheese BGA.AX | Australia | $1.36B | +23% | +7% | 3% | 24.9× | 18.4% | +12.7% |
| Beingmate 002570.SZ | China | $680M | -16% | -4% | 3% | 28.3× | 11.8% | +0.8% |
| Bright Dairy & Food 600597.SS | China | $1.43B | -6% | -3% | 0% | 30.6× | 18.8% | -1.1% |
| Mama's Creations MAMA | United States | $632M | +2% | +54% | 5% | 46.4× | 17.6% | +33.3% |
| Dodla Dairy DODLA.NS | India | $625M | -14% | +17% | 4% | 28.6× | 33.7% | +16.2% |
| Fraser & Neave F99.SI | Singapore | $1.53B | -8% | -3% | 10% | n/a | 0.1% | +4.8% |