Added to YB: 2024-07-05
Pitch date: 2024-07-03
600519.SS [neutral]
Kweichow Moutai Co., Ltd.
-2.24%
current return
Author Info
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Company Info
Kweichow Moutai Co., Ltd., together with its subsidiaries, produces and sells liquor products in China and internationally.
Market Cap
CNY 1.9T
Pitch Price
CNY 1.5K
Price Target
N/A
Dividend
3.70%
EV/EBITDA
13.88
P/E
20.84
EV/Sales
9.54
Sector
Beverages
Category
special_situation
Kweichow Moutai's Impossible Trinity
Moutai (600519.SS): China's top baijiu maker faces Impossible Trinity: 1) 15% earnings growth for Guizhou, 2) stable distribution, 3) healthy stock price. 20x fwd P/E, down 20% despite 42% earnings growth. Inventory overhang (~8yrs consumption). Brand strong, financials solid (3.5% div yield). Risks: tax reform, changing consumer preferences. Complex situation, no easy answer.
Read full article (9 min)