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China's leading maker of latiao spicy wheat-flour snacks and other savory snack foods.
China's leading maker of latiao spicy wheat-flour snacks and other savory snack foods.
Sells mostly through a network of distributors to small shops, supermarkets and convenience stores, with online channels growing, so revenue depends on keeping shelf space across vast numbers of outlets. Latiao were its original product, and konjac snacks are now a second pillar.
In one line: China's answer to a spicy-snack Frito-Lay brand.
Moat: narrow (brand, distribution, scale). Dominant, widely recognized latiao brand with national distribution and strong youth mindshare.
Headquarters: Luohe, Henan, China · Founded: 1999 · Employees: 6,150
Size Weilong Delicious Global (9985.HK) is a Hong Kong Consumer Staples company (Food: Specialty/Candy) with a market value of $2.22B, the 396th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$7.17 on 6 Nov 2026.
Performance Over six months the shares fell 20.1%, against +2.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 13.3% over the last twelve months (peer median +2.8%); the operating margin is 24.7% (peer median 9.3%).
Valuation It trades at 9.6× forward earnings against a peer median of 19.6× (cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 27.6 points above its cost of capital (9.5% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$8.33B | HK$7.83B | HK$6.79B | HK$5.38B | HK$5.39B |
| Revenue growth | — | +15% | +26% | 0% | — |
| Gross profit | HK$4.02B | HK$3.70B | HK$3.22B | HK$2.52B | HK$2.22B |
| EBITDA | HK$2.26B | HK$2.22B | HK$1.78B | HK$1.31B | HK$452M |
| Net income | HK$1.63B | HK$1.55B | HK$1.16B | HK$973M | HK$176M |
| Free cash flow | HK$1.15B | HK$1.14B | HK$1.09B | HK$1.15B | HK$634M |
| Capital expenditure | HK$495M | HK$489M | HK$328M | HK$129M | HK$774M |
| Total debt | n/a | HK$2.48B | HK$445M | HK$213M | HK$187M |
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 |
|---|---|---|---|---|---|---|
| Weilong Delicious Global 9985.HK | $2.22B | -20% | +13% | 25% | 9.6× | -6.3% |
| Three Squirrels 300783.SZ | $1.66B | -12% | -13% | 2% | 21.5× | 19.5% |
| Guangzhou Holike Creative Home 603898.SS | $555M | -7% | -21% | -5% | n/a | n/a |
| Anjoy Foods 2648.HK | $3.83B | -20% | +24% | 12% | 11.6× | -2.9% |
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 | 9985.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.7% | +3.2% | 6th highest of 21 |
| 6-month return | -20.1% | +2.4% | 2nd lowest of 21 |
| Distance from 52-week high | -46.8% | -13.7% | 3rd lowest of 21 |
| Revenue growth (TTM) | +13.3% | +2.8% | 5th highest of 21 |
| Operating margin | 24.7% | 9.3% | 2nd highest of 21 |
| Forward P/E | 9.6× | 19.6× | cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -6.3% | 0.8% | 2nd least demanding of 19 |
| Growth delivered (Del g) | +11.1% | +6.9% | 3rd highest of 19 |
| Hurdle (Req g minus delivered) | -17.4 pp | -5.3 pp | 3rd least demanding of 19 |
| ROIC minus cost of capital | +27.6 pp | +3.3 pp | 2nd highest of 21 |
| EV / EBITDA | 5.9× | 11.0× | 2nd cheapest of 16 |
| Net debt / EBITDA | -1.8× | 0.5× | 4th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Weilong Delicious Global 9985.HK | Hong Kong | $2.22B | -20% | +13% | 25% | 9.6× | -6.3% | +11.1% |
| Sichuan Teway Food 603317.SS | China | $2.24B | -18% | +22% | 21% | 20.4× | 2.9% | +7.8% |
| Gambol Pet 301498.SZ | China | $2.25B | -32% | +14% | 7% | 43.6× | n/a | n/a |
| Yantai North Andre Juice 2218.HK | Hong Kong | $2.31B | +27% | -14% | 18% | 21.9× | 21.9% | +14.0% |
| Premier Foods PFD.L | United Kingdom | $2.34B | +3% | +2% | 18% | 12.6× | -1.3% | +4.4% |
| Kanematsu 8020.T | Japan | $2.35B | +2% | +4% | 5% | 9.6× | -2.4% | +10.5% |
| CALBEE 2229.T | Japan | $2.37B | +7% | +5% | 8% | 22.0× | -1.8% | +5.0% |
| Lotus 600186.SS | China | $2.37B | -18% | +21% | 13% | 35.2× | n/a | n/a |
| UTZ Brands UTZ | United States | $2.05B | +90% | +2% | 4% | 17.9× | 31.8% | +8.3% |
| Chongqing Fuling Zhacai 002507.SZ | China | $2.04B | -6% | +3% | 28% | 18.0× | -0.9% | +1.4% |
| Nissui 1332.T | Japan | $1.97B | -16% | +8% | 4% | 10.8× | 0.9% | +8.7% |
| Suedzucker SZU.DE | Germany | $2.57B | -5% | -5% | -3% | 34.2× | 0.7% | +4.6% |
| House Foods 2810.T | Japan | $2.58B | +49% | 0% | 6% | 27.2× | 5.0% | +4.9% |
| Robertet RBT.PA | France | $1.84B | +4% | 0% | 15% | 18.3× | -0.4% | +9.4% |
| Anhui Jinhe Industrial 002597.SZ | China | $1.83B | -8% | +22% | 4% | 19.4× | 10.3% | +6.0% |
| Cloetta CLA-B.ST | Sweden | $1.82B | +16% | 0% | 14% | 20.9× | -0.3% | +8.4% |
| Kotobuki Spirits 2222.T | Japan | $2.81B | +41% | +10% | 25% | 29.3× | 5.2% | +27.7% |
| Nongshim 004370.KS | South Korea | $1.74B | +8% | +5% | 6% | 11.8× | -16.1% | +5.9% |
| Corbion CRBN.AS | Netherlands | $1.73B | +37% | -3% | 8% | 19.6× | 11.5% | +5.1% |
| Marzetti MZTI | United States | $2.86B | -8% | -1% | 11% | 15.6× | -2.4% | +5.6% |
| Tootsie Roll Industries TR | United States | $2.92B | -8% | +2% | 12% | n/a | 14.1% | +9.2% |