The independent financial analyst theScreener just changed two ratings for the qualification of JIANGSU YANGHE BREW.JST. 'A' (CN), active in the Distillers & Vintners industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 3 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date March 1, ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
A director at Jiangsu Yanghe Brewery Js Co Ltd sold 15,000 shares at 165.000CNY and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last...
Wide-moat Jiangsu Yanghe’s 15.7% net profit growth in the first quarter was slightly ahead of our estimate, driven by strong sales growth for the brewery's premium Dream Blue liquor. Revenue growth of 14.2% was better than our expectation, fueled by double-digit growth outside of Jiangsu province, while sales growth decelerated to single digits in Jiangsu province. We’re raising our fair value estimate to CNY 140 per share from CNY 136 after tweaking our revenue and gross margin assumptions....
Wide-moat Jiangsu Yanghe’s 15.7% net profit growth in the first quarter was slightly ahead of our estimate, driven by strong sales growth for the brewery's premium Dream Blue liquor. Revenue growth of 14.2% was better than our expectation, fueled by double-digit growth outside of Jiangsu province, while sales growth decelerated to single digits in Jiangsu province. We’re raising our fair value estimate to CNY 140 per share from CNY 136 after tweaking our revenue and gross margin assumptions....
Wide-moat Jiangsu Yanghe’s 15.7% net profit growth in the first quarter was slightly ahead of our estimate, driven by strong sales growth for the brewery's premium Dream Blue liquor. Revenue growth of 14.2% was better than our expectation, fueled by double-digit growth outside of Jiangsu province, while sales growth decelerated to single digits in Jiangsu province. We’re raising our fair value estimate to CNY 140 per share from CNY 136 after tweaking our revenue and gross margin assumptions....
Wide-moat Jiangsu Yanghe Brewery, or Yanghe, reported 2018 full-year preliminary results largely in line with our forecasts, with revenue and operating profit up 21% and 22% year on year, respectively, to CNY 24.1 billion and CNY 10.8 billion. As we expected, fourth-quarter revenue growth decelerated to 3.8% down from a 24% increase in the first three quarters, owing to the company’s shipment controls strategy to ensure retail inventory level is healthy. Meanwhile, fourth-quarter operating pro...
Wide-moat Jiangsu Yanghe Brewery, or Yanghe, reported 2018 full-year preliminary results largely in line with our forecasts, with revenue and operating profit up 21% and 22% year on year, respectively, to CNY 24.1 billion and CNY 10.8 billion. As we expected, fourth-quarter revenue growth decelerated to 3.8% down from a 24% increase in the first three quarters, owing to the company’s shipment controls strategy to ensure retail inventory level is healthy. Meanwhile, fourth-quarter operating pro...
Wide-moat Jiangsu Yanghe Brewery, or Yanghe, reported 2018 full-year preliminary results largely in line with our forecasts, with revenue and operating profit up 21% and 22% year on year, respectively, to CNY 24.1 billion and CNY 10.8 billion. As we expected, fourth-quarter revenue growth decelerated to 3.8% down from a 24% increase in the first three quarters, owing to the company’s shipment controls strategy to ensure retail inventory level is healthy. Meanwhile, fourth-quarter operating pro...
Wide-moat Jiangsu Yanghe Brewery, or Yanghe, reported 2018 full-year preliminary results largely in line with our forecasts, with revenue and operating profit up 21% and 22% year on year, respectively, to CNY 24.1 billion and CNY 10.8 billion. As we expected, fourth-quarter revenue growth decelerated to 3.8% down from a 24% increase in the first three quarters, owing to the company’s shipment controls strategy to ensure retail inventory level is healthy. Meanwhile, fourth-quarter operating pro...
Wide-moat Jiangsu Yanghe Brewery, or Yanghe, reported 2018 full-year preliminary results largely in line with our forecasts, with revenue and operating profit up 21% and 22% year on year, respectively, to CNY 24.1 billion and CNY 10.8 billion. As we expected, fourth-quarter revenue growth decelerated to 3.8% down from a 24% increase in the first three quarters, owing to the company’s shipment controls strategy to ensure retail inventory level is healthy. Meanwhile, fourth-quarter operating pro...
Wide-moat Jiangsu Yanghe Brewery's third-quarter results slightly fell short of our forecasts, with revenue and net profit increasing 20.1% and 21.5% year on year, respectively. We attribute the decelerating top-line growth (versus the first half’s 26% year-on-year increase) to weaker-than-expected demand during the Mid-Autumn Festival and distributors stocking in advance (in the second quarter) before the ex-factory price hikes effective July 1. As the company intends to control shipments to ...
Wide-moat Jiangsu Yanghe Brewery's third-quarter results slightly fell short of our forecasts, with revenue and net profit increasing 20.1% and 21.5% year on year, respectively. We attribute the decelerating top-line growth (versus the first half’s 26% year-on-year increase) to weaker-than-expected demand during the Mid-Autumn Festival and distributors stocking in advance (in the second quarter) before the ex-factory price hikes effective July 1. As the company intends to control shipments to ...
Thanks to strong sales volume growth of its premium liquor, Blue of Dream, wide-moat Jiangsu Yanghe Brewery JSC’s CNY 5 billion net profit, up 28% year on year, in the first half of 2018 was ahead of our forecast. Revenue grew 26% to CNY 14.5 billion, stemming from promising 30% top-line growth outside of Jiangsu, as a positive outcome of its "new Jiangsu" market expansion strategy. The home market of Jiangsu Province also accomplished impressive revenue growth, with sales rising 20% from the ...
Thanks to strong sales volume growth of its premium liquor, Blue of Dream, wide-moat Jiangsu Yanghe Brewery JSC’s CNY 5 billion net profit, up 28% year on year, in the first half of 2018 was ahead of our forecast. Revenue grew 26% to CNY 14.5 billion, stemming from promising 30% top-line growth outside of Jiangsu, as a positive outcome of its "new Jiangsu" market expansion strategy. The home market of Jiangsu Province also accomplished impressive revenue growth, with sales rising 20% from the ...
Jiangsu Yanghe Brewery has transformed from a second-tier regional baijiu maker into the third-largest distillery by revenue since its IPO in 2009, with revenue reaching CNY 20 billion in 2017. Thanks to its strong brand equity and solid management execution, Yanghe has become the leader in the midrange to premium segment and enjoys the second-best profitability among peers--its 43% historical five-year average operating margin is much higher than the 20% industry average.With strong innovation ...
Thanks to strong sales volume growth of its premium liquor, Blue of Dream, wide-moat Jiangsu Yanghe Brewery JSC’s CNY 5 billion net profit, up 28% year on year, in the first half of 2018 was ahead of our forecast. Revenue grew 26% to CNY 14.5 billion, stemming from promising 30% top-line growth outside of Jiangsu, as a positive outcome of its "new Jiangsu" market expansion strategy. The home market of Jiangsu Province also accomplished impressive revenue growth, with sales rising 20% from the ...
We are initiating coverage of Jiangsu Yanghe Brewery JSC with wide moat and stable moat trend ratings and a fair value estimate of CNY 155 per share, implying a 2018 adjusted P/E ratio of 30 and enterprise value/EBITDA of 19.5. Yanghe has transformed from a second-tier regional baijiu maker into the third-largest distillery by revenue since its IPO in 2009. Its revenue reached CNY 20 billion in 2017, behind Moutai and Wuliangye’s CNY 58 billion and CNY 30 billion, respectively. Thanks to its s...
We are initiating coverage of Jiangsu Yanghe Brewery JSC with wide moat and stable moat trend ratings and a fair value estimate of CNY 155 per share, implying a 2018 adjusted P/E ratio of 30 and enterprise value/EBITDA of 19.5. Yanghe has transformed from a second-tier regional baijiu maker into the third-largest distillery by revenue since its IPO in 2009. Its revenue reached CNY 20 billion in 2017, behind Moutai and Wuliangye’s CNY 58 billion and CNY 30 billion, respectively. Thanks to its s...
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