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Chinese baijiu maker of the Shede brand, a Sichuan liquor label controlled by the Fosun conglomerate.
Chinese baijiu maker of the Shede brand, a Sichuan liquor label controlled by the Fosun conglomerate.
Sells baijiu through distributors and dealers, so how much stock sits in the dealer channel and how well it moves buyers up its price tiers matter as much as consumer demand. Fosun, a Chinese conglomerate, is the controlling shareholder.
Moat: narrow (brand). Shede brand recognition in Sichuan's competitive baijiu market, backed by Fosun's marketing resources.
Headquarters: Suining, Sichuan, China · Employees: 8,796
Size Shede Spirits (600702.SS) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $1.61B, the 1531st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.45 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against -7.1% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 10.4% over the last twelve months (peer median -3.2%); the operating margin is -0.8% (peer median 11.1%).
Valuation It trades at 53.4× forward earnings against a peer median of 30.0× (5th most expensive of 21).
Capital Return on invested capital runs 8.9 points below its cost of capital (10.5% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.81B | CN¥3.75B | CN¥4.32B | CN¥6.07B | CN¥5.18B |
| Revenue growth | — | -13% | -29% | +17% | — |
| Gross profit | CN¥2.46B | CN¥2.00B | CN¥2.38B | CN¥4.18B | CN¥3.73B |
| EBITDA | n/a | CN¥591M | CN¥761M | CN¥2.40B | CN¥2.28B |
| Net income | -CN¥54.3M | CN¥223M | CN¥346M | CN¥1.77B | CN¥1.69B |
| Free cash flow | -CN¥512M | -CN¥1.22B | -CN¥1.70B | -CN¥117M | CN¥511M |
| Capital expenditure | CN¥383M | CN¥693M | CN¥1.00B | CN¥873M | CN¥584M |
| Total debt | CN¥2.96B | CN¥2.68B | CN¥1.60B | CN¥689M | CN¥485M |
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 |
|---|---|---|---|---|---|---|
| Shede Spirits 600702.SS | $1.61B | -24% | -10% | -1% | 53.4× | n/a |
| Sichuan Swellfun 600779.SS | $2.06B | -13% | -30% | 20% | 46.3× | 16.6% |
| Wuliangye Yibin 000858.SZ | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% |
| Luzhou Laojiao 000568.SZ | $17.9B | -19% | -38% | 40% | 17.5× | 9.9% |
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 | 600702.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.3% | +1.7% | 10th highest of 21 |
| 6-month return | -24.4% | -7.1% | 2nd lowest of 21 |
| Distance from 52-week high | -51.4% | -30.5% | lowest of 21 |
| Revenue growth (TTM) | -10.4% | -3.2% | 7th lowest of 21 |
| Operating margin | -0.8% | 11.1% | 3rd lowest of 21 |
| Forward P/E | 53.4× | 30.0× | 5th most expensive of 21 |
| ROIC minus cost of capital | -8.9 pp | -2.2 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shede Spirits 600702.SS | China | $1.61B | -24% | -10% | -1% | 53.4× | n/a | n/a |
| Hebei Hengshui Laobaigan Liquor 600559.SS | China | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% | +2.4% |
| Anhui Kouzi Distillery 603589.SS | China | $1.65B | -22% | -19% | 13% | 22.9× | n/a | n/a |
| Jiugui Liquor 000799.SZ | China | $1.70B | -18% | +19% | -3% | 271.1× | n/a | n/a |
| Kuaijishan Shaoxing Rice Wine 601579.SS | China | $1.51B | +22% | +6% | 19% | 35.8× | 1.3% | +10.7% |
| Yantai Changyu Pioneer Wine 000869.SZ | China | $1.36B | -12% | -2% | 3% | 16.1× | 3.7% | -3.0% |
| Compania Cervecerias Unidas S.A. Sponsored ADR CCU | United States | $2.02B | -9% | +6% | 7% | 13.7× | 0.4% | +5.5% |
| Tilaknagar Industries TI.NS | India | $1.27B | +3% | +150% | 10% | 50.4× | n/a | n/a |
| Jinhui Liquor 603919.SS | China | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% | +10.9% |
| Sichuan Swellfun 600779.SS | China | $2.06B | -13% | -30% | 20% | 46.3× | 16.6% | +0.1% |
| Allied Blenders and Distillers ABDL.NS | India | $2.10B | +24% | -20% | 11% | 63.5× | n/a | n/a |
| Boston Beer SAM | United States | $2.24B | +12% | -4% | 5% | 21.0× | 6.5% | +2.5% |
| Zhejiang Guyuelongshan Shaoxing Wine 600059.SS | China | $1.12B | -8% | -3% | 11% | 40.5× | n/a | n/a |
| Chongqing Brewery 600132.SS | China | $2.88B | -28% | -4% | 20% | 17.3× | -8.9% | +6.2% |
| Guangzhou Zhujiang Brewery 002461.SZ | China | $2.91B | -15% | +2% | 15% | 19.8× | -5.8% | +6.9% |
| Remy Cointreau RCO.PA | France | $3.08B | +30% | -5% | 16% | 29.2× | 17.0% | -1.5% |
| Hitejinro 000080.KS | South Korea | $846M | -3% | -5% | 7% | 13.2× | -4.6% | +2.1% |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| ZJLD 6979.HK | Hong Kong | $3.41B | -3% | -29% | 13% | 27.6× | n/a | n/a |
| Anhui Golden Seed Winery 600199.SS | China | $739M | -6% | -46% | -51% | 53.5× | n/a | n/a |