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Consumer Non-Durables

Kweichow Moutai Co., Ltd.

  • 681.00 CNY
  • +10.74
  • +1.60%
  • China
    Apr 20, 2018
  • Ticker
    SHG(600519)
  • Prev. close
    670.26
  • Market cap (CNY)
    841,979M
  • Market cap (USD)
    133,879M
  • Shares
    1,256.20M

Company Background

Kweichow Moutai is a Chinese state-owned producer of baijiu, a traditional and strong alcoholic spirit made from sorghum, wheat and barley. The company's Moutai baijiu is considered to be China's luxury liquor. The company is known as one of the industry giants, alongside Sichuan-based Wuliangye Group.

Founded in 1999, Kweichow Moutai is based in Renhuai, Guizhou Province. It is headed by chairman Yuan Renguo. The distiller is listed on the Shenzhen Stock Exchange. Baijiu, has an alcohol content of around 40% and is particularly popular in China's cold northeastern and inland areas. China's baijiu market stood at about 10 trillion yen ($80.3 billion) in 2013.

High-end baijiu, ranges from hundreds of dollars to thousands of dollars per bottle, and was often served at banquets and events for, or presented as gifts to, high-ranking government officials and clients. However, its overall consumption is declining because of the current voluntary ban on extravagant banquets in the wake of President Xi Jinping's anti-graft campaign.

Business Summary

Kweichow Moutai Co., Ltd. engages in the operation of wine industries. Its businesses include procurement of raw materials, production, and sale of products. Its Procurement of Raw Materials division involves in the production and sale plan for purchase of products. Its Production division provides storage, blending, and packaging services. Its Sales division distributes wine products. The company was founded on November 20, 1999 and is headquartered in Renhuai, China.

Financial Highlights

Dec 2017 CNYUSD
Revenue52,658.54M7,791.77M
Gross Profit46,160.63M6,830.29M
Operating income38,884.28M5,753.62M
Income before tax38,740.07M5,732.28M
Net income27,079.36M4,006.87M
EBITDA40,010.11M5,920.21M
Diluted EPS21.563.19
Dividends Per Share----
Total Assets134,610.11M20,671.08M
Total liabilities38,574.91M5,923.66M
Total equity91,451.52M14,043.53M
Operating cash flow22,153.03M3,277.93M
Currency in CNYCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 28,279.84M 29,428.21M 29,997.68M 33,646.15M 52,658.54M
Gross Profit 25,855.02M 26,732.34M 27,041.80M 29,782.16M 46,160.63M
Operating income 21,360.38M 21,976.57M 22,087.85M 24,232.44M 38,884.28M
Income before tax 21,432.36M 21,882.34M 22,001.71M 23,957.88M 38,740.07M
Net income 15,136.63M 15,349.80M 15,503.09M 16,718.36M 27,079.36M
EBITDA 21,916.67M 22,733.37M 22,936.00M 25,166.64M 40,010.11M
Diluted EPS 12.04 12.21 12.34 13.31 21.56
Dividends Per Share 3.61 3.97 6.17 6.78 --
Total Assets 55,454.15M 65,873.16M 86,301.46M 112,934.53M 134,610.11M
Total liabilities 11,307.28M 10,543.84M 20,051.72M 37,020.42M 38,574.91M
Total equity 42,622.21M 53,430.40M 63,925.97M 72,894.13M 91,451.52M
Operating cash flow 12,658.05M 12,635.61M 17,440.20M 37,451.24M 22,153.03M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 4,600.08M 4,775.98M 4,772.81M 5,064.47M 7,791.77M
Gross Profit 4,205.65M 4,338.46M 4,302.51M 4,482.86M 6,830.29M
Operating income 3,474.54M 3,566.64M 3,514.30M 3,647.51M 5,753.62M
Income before tax 3,486.25M 3,551.34M 3,500.60M 3,606.18M 5,732.28M
Net income 2,462.17M 2,491.16M 2,466.63M 2,516.47M 4,006.87M
EBITDA 3,565.03M 3,689.46M 3,649.25M 3,788.12M 5,920.21M
Diluted EPS 1.96 1.98 1.96 2.00 3.19
Dividends Per Share 0.58 0.64 0.98 1.02 --
Total Assets 9,160.07M 10,617.85M 13,290.23M 16,250.74M 20,671.08M
Total liabilities 1,867.76M 1,699.52M 3,087.92M 5,327.06M 5,923.66M
Total equity 7,040.45M 8,612.25M 9,844.45M 10,489.11M 14,043.53M
Operating cash flow 2,058.99M 2,050.67M 2,774.84M 5,637.22M 3,277.93M

Valuation Measures

Dec 2017
PER32.35
ROA21.87%
ROE32.95%
Operating margin73.84%
Profit margin51.42%

Key executives

  • General Manager & Director: Bao Fang Li
  • Chief Financial Officer & Deputy General Manager: Ying Zi He
  • Deputy General Manager: Gui Sheng Li
  • Deputy General Manager: Ming Quan Yuan
  • Deputy General Manager: Jia Qi Zhang

Shareholders

  • Guizhou State-Owned Assets Sup. & Admin. Commission (64.2%)
  • China Securities Finance Corp. Ltd. (1.9%)
  • E Fund Management (Hong Kong) Co., Ltd. (0.9%)
  • China Investment Corp. (Investment Management) (0.8%)
  • E Fund Management Co., Ltd. (0.5%)
  • China Asset Management Co., Ltd. (0.4%)
  • OppenheimerFunds, Inc. (0.3%)
  • GIC Pte Ltd. (Investment Management) (0.3%)
  • Taikang Asset Management Co., Ltd. (0.3%)
  • Genesis Investment Management LLP (0.3%)

Contact Details

Related Companies

  • China Kweichow Moutai Winery (Group) Co., Ltd.
  • Chateau Loudenne
  • Kweichow Moutai Factory Import & Export Corp.
  • Kweichow Moutai Factory Sales Corp.
  • Kweichow Moutai Sales Co., Ltd.
  • Production Facilities of Guizhou Renhuai Huaijiu Co Ltd

Competitors

    Last Updated on 20 Apr, 2018

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