Loading…
Regional Chinese baijiu (white liquor) maker known for the Yingjia Gongjiu brand, strong in Anhui province.
Regional Chinese baijiu (white liquor) maker known for the Yingjia Gongjiu brand, strong in Anhui province.
Sells through a network of regional distributors, mostly in Anhui, so profit depends on keeping those distributors committed and on holding shelf prices steady. Growth rests on moving customers to more expensive bottles, while recognition outside the province is much weaker.
Moat: narrow (brand, distribution). Strong regional brand loyalty and distribution within Anhui, though weaker nationally.
Headquarters: Bengbu, Anhui, China · Employees: 7,069
Size Anhui Yingjia Distillery (603198.SS) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $5.35B, the 473rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥44.61 on 6 Nov 2026.
Performance Over six months the shares gained 17.4%, against -2.3% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 0.2% over the last twelve months (peer median -4.0%); the operating margin is 40.5% (peer median 14.7%).
Valuation It trades at 17.1× forward earnings against a peer median of 18.4× (9th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.1 points above its cost of capital (9.1% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.33B | CN¥5.13B | CN¥6.28B | CN¥5.77B | CN¥3.99B |
| Revenue growth | — | -18% | +9% | +45% | — |
| Gross profit | CN¥4.79B | CN¥3.37B | CN¥4.27B | CN¥3.72B | CN¥2.14B |
| EBITDA | n/a | CN¥2.75B | CN¥3.58B | CN¥3.13B | CN¥2.38B |
| Net income | CN¥2.05B | CN¥1.99B | CN¥2.59B | CN¥2.28B | CN¥1.71B |
| Free cash flow | CN¥1.57B | CN¥566M | CN¥1.07B | CN¥1.69B | CN¥1.50B |
| Capital expenditure | CN¥566M | CN¥745M | CN¥903M | CN¥579M | CN¥417M |
| Total debt | CN¥943M | CN¥935M | CN¥766M | CN¥283M | CN¥257M |
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 |
|---|---|---|---|---|---|---|
| Anhui Yingjia Distillery 603198.SS | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% |
| Anhui Kouzi Distillery 603589.SS | $1.65B | -22% | -19% | 13% | 22.9× | n/a |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
| Anhui Gujing Distillery 000596.SZ | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% |
| Jiangsu Yanghe Distillery 002304.SZ | $8.50B | -23% | -31% | 4% | 32.6× | n/a |
| Luzhou Laojiao 000568.SZ | $17.9B | -19% | -38% | 40% | 17.5× | 9.9% |
| Shanxi Xinghuacun Fen Wine Factory 600809.SS | $24.1B | -8% | -9% | 36% | 17.1× | 3.0% |
| Jinhui Liquor 603919.SS | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% |
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 | 603198.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.9% | +6.1% | 4th highest of 21 |
| 6-month return | +17.4% | -2.3% | 8th highest of 21 |
| Distance from 52-week high | -8.8% | -20.2% | 6th highest of 21 |
| Revenue growth (TTM) | -0.2% | -4.0% | 8th highest of 20 |
| Operating margin | 40.5% | 14.7% | highest of 20 |
| Forward P/E | 17.1× | 18.4× | 9th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.3% | -1.5% | 5th most demanding of 16 |
| Growth delivered (Del g) | +11.7% | +6.2% | 5th highest of 16 |
| Hurdle (Req g minus delivered) | -6.3 pp | -7.9 pp | 6th most demanding of 16 |
| ROIC minus cost of capital | +17.1 pp | +2.5 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anhui Yingjia Distillery 603198.SS | China | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% | +11.7% |
| Sapporo Breweries 2501.T | Japan | $5.34B | +24% | -6% | 5% | 2.8× | 14.8% | +3.1% |
| Beijing Yanjing Brewery 000729.SZ | China | $4.82B | -14% | +7% | 16% | 15.7× | -4.2% | +7.3% |
| 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% |
| 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 |
| Takara 2531.T | Japan | $3.84B | +75% | +9% | 4% | 34.6× | n/a | n/a |
| Molson Coors Beverage TAP | United States | $7.54B | -4% | -2% | 12% | 9.2× | -4.7% | +2.9% |
| 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 |
| Jiangsu Yanghe Distillery 002304.SZ | China | $8.50B | -23% | -31% | 4% | 32.6× | n/a | n/a |
| Royal Unibrew A/S RBREW.CO | Denmark | $3.37B | +11% | +3% | 14% | 13.3× | -7.1% | +16.5% |
| Thai Beverage Public Y92.SI | Singapore | $8.56B | +2% | -8% | 13% | 10.6× | -4.7% | +3.2% |
| United Breweries UBL.NS | India | $3.33B | -17% | +7% | 6% | 65.9× | n/a | n/a |
| 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% |
| 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% |