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Chinese baijiu maker of the Kouzijiao brand, a leading liquor label in Anhui province.
Chinese baijiu maker of the Kouzijiao brand, a leading liquor label in Anhui province.
Sells through a network of regional distributors rather than mass retail, and the business lies in moving customers up the price ladder of its Kouzijiao range, so product mix matters as much as volume. Most sales come from Anhui.
Moat: narrow (brand, distribution). Leading brand and distribution position within Anhui's competitive baijiu market.
Headquarters: Suzhou, Anhui, China · Employees: 4,431
Size Anhui Kouzi Distillery (603589.SS) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $1.65B, the 1498th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.51 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against -7.1% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 18.8% over the last twelve months (peer median -3.2%); the operating margin is 12.8% (peer median 11.1%).
Valuation It trades at 22.9× forward earnings against a peer median of 30.0× (9th cheapest of 21).
Capital Return on invested capital runs 3.6 points below its cost of capital (8.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.29B | CN¥3.33B | CN¥5.10B | CN¥5.06B | CN¥4.35B |
| Revenue growth | — | -35% | +1% | +16% | — |
| Gross profit | CN¥2.21B | CN¥1.92B | CN¥3.40B | CN¥3.43B | CN¥2.91B |
| EBITDA | n/a | CN¥1.16B | CN¥2.52B | CN¥2.55B | CN¥2.24B |
| Net income | CN¥315M | CN¥673M | CN¥1.66B | CN¥1.72B | CN¥1.55B |
| Free cash flow | -CN¥127M | -CN¥407M | CN¥1.05B | CN¥621M | CN¥431M |
| Capital expenditure | CN¥94.8M | CN¥190M | CN¥407M | CN¥290M | CN¥398M |
| Total debt | CN¥351M | CN¥206M | CN¥521M | CN¥600M | CN¥402M |
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 Kouzi Distillery 603589.SS | $1.65B | -22% | -19% | 13% | 22.9× | n/a |
| Anhui Yingjia Distillery 603198.SS | $5.35B | +17% | 0% | 41% | 17.1× | 5.3% |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
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 | 603589.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.0% | +1.7% | 8th highest of 21 |
| 6-month return | -22.4% | -7.1% | 3rd lowest of 21 |
| Distance from 52-week high | -44.1% | -29.9% | 4th lowest of 21 |
| Revenue growth (TTM) | -18.8% | -3.2% | 4th lowest of 21 |
| Operating margin | 12.8% | 11.1% | 9th highest of 21 |
| Forward P/E | 22.9× | 30.0× | 9th cheapest of 21 |
| ROIC minus cost of capital | -3.6 pp | -1.6 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anhui Kouzi Distillery 603589.SS | China | $1.65B | -22% | -19% | 13% | 22.9× | n/a | n/a |
| Hebei Hengshui Laobaigan Liquor 600559.SS | China | $1.64B | -12% | -17% | 11% | 30.7× | 14.2% | +2.4% |
| Shede Spirits 600702.SS | China | $1.61B | -24% | -10% | -1% | 53.4× | 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% |
| 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 |
| 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% |
| 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 |
| Treasury Wine Estates TWE.AX | Australia | $3.56B | +52% | -12% | 17% | 18.4× | 9.3% | -0.4% |