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Chinese baijiu (sorghum liquor) producer based in Gansu province, selling the Jinhui brand mainly in northwest China.
Chinese baijiu (sorghum liquor) producer based in Gansu province, selling the Jinhui brand mainly in northwest China.
Sells through distributors and liquor shops, mostly within Gansu and neighbouring northwest provinces, so sales follow regional banquet, gifting and festival demand. Jinhui is a regional name without national reach, which keeps it dependent on local drinkers and local competition.
In one line: A small, regional Chinese spirits distiller.
Moat: narrow (brand, distribution). Regional Gansu baijiu brand, far smaller and less national than Moutai/Wuliangye.
Headquarters: Longnan, China · Employees: 3,181
Size Jinhui Liquor (603919.SS) is a China Consumer Staples company (Beverages: Alcoholic) with a market value of $1.27B, the 1887th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.65 on 6 Nov 2026.
Performance Over six months the shares fell 6.2%, against -10.4% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 1.6% over the last twelve months (peer median -3.9%); the operating margin is 11.0% (peer median 10.6%).
Valuation It trades at 36.1× forward earnings against a peer median of 27.7× (8th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +4 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 2.8 points above its cost of capital (8.9% WACC).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.95B | CN¥2.50B | CN¥2.59B | CN¥2.19B | CN¥1.72B |
| Revenue growth | — | -3% | +18% | +27% | — |
| Gross profit | CN¥1.85B | CN¥1.35B | CN¥1.33B | CN¥1.15B | CN¥899M |
| EBITDA | n/a | CN¥573M | CN¥574M | CN¥483M | CN¥396M |
| Net income | CN¥209M | CN¥354M | CN¥388M | CN¥329M | CN¥280M |
| Free cash flow | CN¥84.8M | CN¥85.4M | CN¥226M | CN¥384M | CN¥262M |
| Capital expenditure | CN¥329M | CN¥395M | CN¥332M | CN¥66.3M | CN¥57.1M |
| Total debt | CN¥222M | CN¥358M | CN¥33.3M | CN¥29.7M | CN¥32.5M |
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 |
|---|---|---|---|---|---|---|
| Jinhui Liquor 603919.SS | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% |
| Kweichow Moutai 600519.SS | $272B | +5% | -4% | 65% | 21.7× | 0.7% |
| Wuliangye Yibin 000858.SZ | $43.9B | -22% | -6% | 32% | 22.1× | 7.1% |
| Anhui Gujing Distillery 000596.SZ | $7.29B | -2% | -28% | 17% | 21.5× | 4.3% |
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 | 603919.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.2% | +1.7% | 9th lowest of 21 |
| 6-month return | -6.2% | -10.4% | 8th highest of 21 |
| Distance from 52-week high | -36.2% | -32.0% | 8th lowest of 21 |
| Revenue growth (TTM) | -1.6% | -3.9% | 7th highest of 21 |
| Operating margin | 11.0% | 10.6% | 10th highest of 21 |
| Forward P/E | 36.1× | 27.7× | 8th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 14.6% | 0.8% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +10.9% | +5.8% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | +3.7 pp | -8.1 pp | 5th most demanding of 13 |
| ROIC minus cost of capital | +2.8 pp | -2.2 pp | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jinhui Liquor 603919.SS | China | $1.27B | -6% | -2% | 11% | 36.1× | 14.6% | +10.9% |
| Tilaknagar Industries TI.NS | India | $1.27B | +3% | +150% | 10% | 50.4× | n/a | n/a |
| Yantai Changyu Pioneer Wine 000869.SZ | China | $1.36B | -12% | -2% | 3% | 16.1× | 3.7% | -3.0% |
| Zhejiang Guyuelongshan Shaoxing Wine 600059.SS | China | $1.12B | -8% | -3% | 11% | 40.5× | n/a | n/a |
| Kuaijishan Shaoxing Rice Wine 601579.SS | China | $1.51B | +22% | +6% | 19% | 35.8× | 1.3% | +10.7% |
| 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 |
| Hitejinro 000080.KS | South Korea | $846M | -3% | -5% | 7% | 13.2× | -4.6% | +2.1% |
| 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 |
| Anhui Golden Seed Winery 600199.SS | China | $739M | -6% | -46% | -51% | 53.5× | n/a | n/a |
| Boston Beer SAM | United States | $2.24B | +12% | -4% | 5% | 21.0× | 6.5% | +2.5% |
| Xinjiang Yilite Industry 600197.SS | China | $669M | -23% | -26% | 14% | 27.7× | n/a | n/a |
| Olvi OLVAS.HE | Finland | $646M | -9% | +11% | 12% | 9.6× | -10.8% | +9.9% |
| GDH Supertime 001338.SZ | China | $629M | -37% | -15% | 2% | n/a | -7.8% | +6.9% |
| 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% |
| C&C CCR.L | United Kingdom | $527M | -2% | -3% | 5% | 12.1× | 2.8% | +15.5% |