Announcement • Apr 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, Jun 16, 2026 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, Jun 16, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Fenyang, Shanxi China Reported Earnings • Apr 24
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥10.04 (up from CN¥10.04 in FY 2024). Revenue: CN¥38.7b (up 7.5% from FY 2024). Net income: CN¥12.2b (flat on FY 2024). Profit margin: 32% (down from 34% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 23
Price target decreased by 8.9% to CN¥201 Down from CN¥221, the current price target is an average from 11 analysts. New target price is 41% above last closing price of CN¥142. Stock is down 33% over the past year. The company is forecast to post earnings per share of CN¥9.90 for next year compared to CN¥10.04 last year. Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from CN¥10.46 to CN¥9.10 per share. Revenue forecast steady at CN¥39.2b. Net income forecast to shrink 0.9% next year vs 11% growth forecast for Beverage industry in China . Consensus price target broadly unchanged at CN¥210. Share price was steady at CN¥142 over the past week. Announcement • Mar 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 23, 2026 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: CN¥2.38 (down from CN¥2.41 in 3Q 2024). Revenue: CN¥8.96b (up 4.1% from 3Q 2024). Net income: CN¥2.90b (down 1.4% from 3Q 2024). Profit margin: 32% (down from 34% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Sep 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 49% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 01
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥1.52 (down from CN¥1.76 in 2Q 2024). Revenue: CN¥7.44b (flat on 2Q 2024). Net income: CN¥1.86b (down 14% from 2Q 2024). Profit margin: 25% (down from 29% in 2Q 2024). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 06
Dividend of CN¥3.60 announced Shareholders will receive a dividend of CN¥3.60. Ex-date: 7th July 2025 Payment date: 7th July 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 44% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Independent Director Peiyu Zhou was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jun 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Jun 24
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.(SHSE:600809) dropped from Shanghai Stock Exchange 180 Value Index Shanxi Xinghuacun Fen Wine Factory Co.,Ltdhas been removed from Shanghai Stock Exchange 180 Value Index. Reported Earnings • May 01
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: CN¥5.45 (up from CN¥5.13 in 1Q 2024). Revenue: CN¥16.5b (up 7.7% from 1Q 2024). Net income: CN¥6.65b (up 6.2% from 1Q 2024). Profit margin: 40% (in line with 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, May 29, 2025 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, May 29, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Fenyang, Shanxi China Announcement • Mar 28
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 27
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 30, 2025 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥233, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 21x in the Beverage industry in China. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥391 per share. Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥2.41 (up from CN¥2.18 in 3Q 2023). Revenue: CN¥8.61b (up 11% from 3Q 2023). Net income: CN¥2.94b (up 10% from 3Q 2023). Profit margin: 34% (in line with 3Q 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥193, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Beverage industry in China. Total loss to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥358 per share. Announcement • Sep 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥181, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Beverage industry in China. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥358 per share. Price Target Changed • Aug 31
Price target decreased by 9.3% to CN¥252 Down from CN¥277, the current price target is an average from 16 analysts. New target price is 42% above last closing price of CN¥177. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥10.55 for next year compared to CN¥8.56 last year. Reported Earnings • Aug 28
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥1.76 (up from CN¥1.60 in 2Q 2023). Revenue: CN¥7.41b (up 17% from 2Q 2023). Net income: CN¥2.15b (up 10% from 2Q 2023). Profit margin: 29% (down from 31% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 01
Dividend increased to CN¥4.37 Dividend of CN¥4.37 is 32% higher than last year. Ex-date: 5th July 2024 Payment date: 5th July 2024 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 33% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Buy Or Sell Opportunity • May 13
Now 22% undervalued Over the last 90 days, the stock has risen 17% to CN¥264. The fair value is estimated to be CN¥338, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥5.13 (vs CN¥3.95 in 1Q 2023) First quarter 2024 results: EPS: CN¥5.13 (up from CN¥3.95 in 1Q 2023). Revenue: CN¥15.3b (up 21% from 1Q 2023). Net income: CN¥6.26b (up 30% from 1Q 2023). Profit margin: 41% (up from 38% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 27
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, May 17, 2024 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd., Annual General Meeting, May 17, 2024, at 09:30 China Standard Time. Location: The Company's Meeting Room, Fenyang, Shanxi China Buy Or Sell Opportunity • Apr 25
Now 20% undervalued Over the last 90 days, the stock has risen 18% to CN¥246. The fair value is estimated to be CN¥308, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Buy Or Sell Opportunity • Apr 09
Now 20% undervalued Over the last 90 days, the stock has risen 15% to CN¥246. The fair value is estimated to be CN¥308, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Announcement • Mar 29
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Feb 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.5% to CN¥228. The fair value is estimated to be CN¥290, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Buying Opportunity • Jan 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be CN¥268, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Announcement • Dec 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: CN¥2.18 (up from CN¥1.71 in 3Q 2022). Revenue: CN¥7.73b (up 14% from 3Q 2022). Net income: CN¥2.66b (up 27% from 3Q 2022). Profit margin: 34% (up from 31% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 3.8%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q3, 2023 Results on Oct 27, 2023 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q3, 2023 results on Oct 27, 2023 Reported Earnings • Aug 25
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥1.60 (up from CN¥1.07 in 2Q 2022). Revenue: CN¥6.33b (up 32% from 2Q 2022). Net income: CN¥1.95b (up 50% from 2Q 2022). Profit margin: 31% (up from 27% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 19
Upcoming dividend of CN¥3.32 per share at 1.5% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 26 June 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Chinese dividend payers (2.0%). In line with average of industry peers (1.5%). Reported Earnings • Apr 28
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: CN¥3.95 (up from CN¥3.04 in 1Q 2022). Revenue: CN¥12.7b (up 20% from 1Q 2022). Net income: CN¥4.82b (up 30% from 1Q 2022). Profit margin: 38% (up from 35% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year whereas the company’s share price has increased by 48% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Yu Min Li was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: CN¥1.71 (up from CN¥1.10 in 3Q 2021). Revenue: CN¥6.81b (up 33% from 3Q 2021). Net income: CN¥2.10b (up 57% from 3Q 2021). Profit margin: 31% (up from 26% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 52% per year. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥1.07 (vs CN¥1.13 in 2Q 2021) Second quarter 2022 results: EPS: CN¥1.07 (down from CN¥1.13 in 2Q 2021). Revenue: CN¥4.80b (flat on 2Q 2021). Net income: CN¥1.30b (down 4.3% from 2Q 2021). Profit margin: 27% (down from 28% in 2Q 2021). Over the next year, revenue is forecast to grow 28%, compared to a 19% growth forecast for the Beverage industry in China. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: CN¥3.04 (up from CN¥1.79 in 1Q 2021). Revenue: CN¥10.5b (up 44% from 1Q 2021). Net income: CN¥3.71b (up 70% from 1Q 2021). Profit margin: 35% (up from 30% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 21%, compared to a 19% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Yu Min Li was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥266, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 30x in the Beverage industry in China. Total returns to shareholders of 547% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥188 per share. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥299, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 34x in the Beverage industry in China. Total returns to shareholders of 812% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥188 per share. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥1.10 (vs CN¥0.71 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥5.14b (up 48% from 3Q 2020). Net income: CN¥1.34b (up 56% from 3Q 2020). Profit margin: 26% (up from 25% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has increased by 130% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 27
Price target increased to CN¥332 Up from CN¥310, the current price target is an average from 20 analysts. New target price is 18% above last closing price of CN¥281. Stock is up 103% over the past year. Price Target Changed • May 03
Price target increased to CN¥398 Up from CN¥364, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of CN¥410. Stock is up 282% over the past year. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥2.50 (vs CN¥1.42 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: CN¥7.33b (up 77% from 1Q 2020). Net income: CN¥2.18b (up 78% from 1Q 2020). Profit margin: 30% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS CN¥3.58 (vs CN¥2.23 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥14.0b (up 18% from FY 2019). Net income: CN¥3.11b (up 60% from FY 2019). Profit margin: 22% (up from 16% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 72% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 23%, compared to a 19% growth forecast for the Beverage industry in China. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥258 The company is down 5.0% from its price of CN¥272 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Beverage industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥245 per share. Is New 90 Day High Low • Feb 10
New 90-day high: CN¥444 The company is up 74% from its price of CN¥255 on 12 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥245 per share. Price Target Changed • Jan 06
Price target raised to CN¥297 Up from CN¥266, the current price target is an average from 14 analysts. The new target price is 25% below the current share price of CN¥395. As of last close, the stock is up 350% over the past year. Is New 90 Day High Low • Dec 28
New 90-day high: CN¥358 The company is up 82% from its price of CN¥197 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥182 per share. Price Target Changed • Dec 18
Price target raised to CN¥266 Up from CN¥238, the current price target is an average from 14 analysts. The new target price is 20% below the current share price of CN¥330. As of last close, the stock is up 285% over the past year. Is New 90 Day High Low • Dec 10
New 90-day high: CN¥280 The company is up 33% from its price of CN¥210 on 11 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥107 per share. Announcement • Nov 20
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. (SHSE:600809) signed a share purchase agreement to acquire 51% stake in Shanxi Xinghuacun Fenjiu Group Wine Industry Development Zone Co., Ltd. from Shanxi Xinghuacun Fenjiu Group Co., Ltd. for approximately CNY 270 million. Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. (SHSE:600809) signed a share purchase agreement to acquire 51% stake in Shanxi Xinghuacun Fenjiu Group Wine Industry Development Zone Co., Ltd. from Shanxi Xinghuacun Fenjiu Group Co., Ltd. for approximately CNY 270 million on November 18, 2020. Within 5 working days after the agreement is effective, Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. will make a one-time payment. As of December 31, 2019, Shanxi Xinghuacun Fenjiu Group Wine Industry Development Zone Co., Ltd. recorded total assets of CNY 945.25 million, total liabilities of CNY 556.35 million, net assets of CNY 388.9 million, revenues of CNY 849.92 million, operating profit of CNY 91.63 million, total profit of CNY 91.59 million, net profit of CNY 68.22 million. As of September 30, 2020, Shanxi Xinghuacun Fenjiu Group Wine Industry Development Zone Co., Ltd. recorded total assets of CNY 581.7 million, total liabilities of CNY 158 million, net assets of CNY 423.65 million, revenues of CNY 476.58 million, operating profit of CNY 48.22 million, total profit of CNY 48.25 million, net profit of CNY 34.74 million. As of November 18, 2020, board of directors of Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. approved the deal. Is New 90 Day High Low • Nov 16
New 90-day high: CN¥273 The company is up 58% from its price of CN¥173 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥90.97 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥2.69b, up 38% from the prior year. Total revenue was CN¥13.1b over the last 12 months, up 16% from the prior year. Is New 90 Day High Low • Oct 28
New 90-day high: CN¥224 The company is up 25% from its price of CN¥179 on 30 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥99.80 per share. Price Target Changed • Oct 28
Price target raised to CN¥212 Up from CN¥196, the current price target is an average from 13 analysts. The new target price is close to the current share price of CN¥224. As of last close, the stock is up 150% over the past year. Announcement • Oct 27
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report Q3, 2020 Results on Oct 30, 2020 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report Q3, 2020 results on Oct 30, 2020 Is New 90 Day High Low • Oct 12
New 90-day high: CN¥217 The company is up 31% from its price of CN¥166 on 14 July 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Beverage industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥44.79 per share. Announcement • Jul 09
Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. to Report First Half, 2020 Results on Aug 25, 2020 Shanxi Xinghuacun Fen Wine Factory Co.,Ltd. announced that they will report first half, 2020 results on Aug 25, 2020 