1. People's Republic of China Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Wineries & Distilleries
Shede Spirits Co., Ltd.

Shede Spirits Co., Ltd.

600702.SS
Shede Spirits Co., Ltd.CN flagShanghai Stock Exchange
35.69
CNY
-0.19
- -
11.85BMarket Cap
Shede Spirits Co., Ltd.
600702.SS
(Shanghai Stock Exchange)

Recent

price

35.69

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.65
3.76
5.81
4.2
4.28
3.42
4.33
4.86
6.61
7.94
8.12
15.09
18.32
21.39
16.3
13.48
14.64
Revenue per Share
0.23
0.58
1.1
0.03
0.04
0.02
0.24
0.43
1.02
1.52
1.75
3.78
5.1
5.34
1.05
0.68
0.61
Basic EPS, GAAP
0.34
-1.15
0.99
0.18
-0.58
0.26
0.55
0.82
0.57
1.43
2.24
6.14
1.38
-0.48
-5.2
-3.71
-3.07
Free Cash Flow per Basic Share
0.15
0.15
0.25
0.4
0.12
0.15
0.12
0.15
0.21
0.2
0.28
0.27
0.8
1.52
2.19
0.55
0.5
Dividend per Share
2.54
3.03
3.92
3.54
3.56
3.55
3.79
4.14
5.16
6.59
8.14
11.75
16.01
19.79
18.85
19.15
19.86
Book Value per Share
4.92
5.46
6.39
6.1
6.14
6.15
6.41
7.43
7.7
9.3
10.53
14.25
18.86
21.57
20.41
20.64
21.12
Tangible Book Value per Share
337
337
337
337
337
338
337
337
334
334
333
329
330
331
329
328
327
Basic Weighted Avg Shares
895
1,269
1,959
1,419
1,445
1,156
1,462
1,638
2,212
2,650
2,704
4,969
6,056
7,087
5,357
4,419
4,788
Sales/Revenue/Turnover
15.76
22.82
26.78
4.2
3.27
4.12
15.95
13.53
18.27
27.64
28.88
32.97
35.37
31.64
10.56
8.33
7.3
Operating Margin (%)
65
61
61
64
54
54
50
49
62
60
75
132
129
163
198
265
- -
Depreciation Expense
76
195
370
12
13
7
80
144
342
508
581
1,246
1,685
1,769
346
223
198
Net Income, GAAP
21.41
26.74
25.56
76.2
61.79
78.24
56.34
30.38
15.38
23.85
24.18
24.57
24.29
23.94
33.72
33.34
32.12
Effective Tax Rate (%)
8.55
15.38
18.88
0.83
0.93
0.62
5.49
8.76
15.45
19.17
21.49
25.07
27.83
24.97
6.45
5.05
4.14
Profit Margin (%)
796
908
1,177
1,092
1,077
1,083
1,199
1,777
1,573
1,972
2,276
3,582
4,635
4,706
3,372
3,451
3,817
Working Capital
105
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
50
43
47
434
774
908
LT Debt
1,854
2,029
2,338
2,239
2,245
2,246
2,325
2,655
2,716
3,240
3,781
4,997
6,538
7,565
7,131
7,199
7,376
Total Equity
4.75
8.7
15.07
0.53
0.67
0.37
3.32
4.64
9.74
14.04
13.11
24.18
25.45
22.06
4.47
2.72
2.65
Return on Invested Capital (%)
7.69
14.99
25.9
1.07
1.58
0.78
4.44
7.01
13.36
16.91
17.21
32.68
34.57
28.17
4.83
2.97
2.61
Return on Capital (%)
9.21
20.78
31.54
0.94
1.12
0.59
6.47
10.74
21.89
25.89
23.67
37.85
36.79
29.86
5.42
3.58
3.06
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
732
704
880
LT Borrowings
431
629
905
LT Finance Leases
3
4
3
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
333
333
333
Market Capitalization
21,813
17,980
16,812

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
7,437
7,679
7,743
Cash, Cash Equivalents & STI
1,543
1,580
1,516
Accounts Receivable, Net
236
242
253
Inventories
5,219
5,351
5,603
Total Current Liabilities
4,066
3,933
3,926
Payables & Accruals
- -
- -
- -
ST Debt
732
704
880
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.99%
14.78%
0.95%
Free Cash Flow
124.63%
181.44%
-28.82%
Net Income, GAAP
134.39%
7.73%
-35.51%
Sales/Revenue/Turnover
17.61%
16.16%
-17.51%
Total Cash Common Dividend
32.83%
50.32%
-75.05%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,105
1,165
1,189
897
5,357
2025
1,576
1,125
718
- -
4,419
2026
1,481
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.66
- -
- -
- -
1.05
2025
1.06
- -
- -
- -
0.68
2026
0.71
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
2.19
2025
0.02
- -
- -
- -
0.55
2026
0.06
- -
- -
- -
- -
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Business
Shede Spirits Co., Ltd. (600702.SS) engages primarily in the design, production, and sale of liquor products in China, with additional operations in glass bottles, packaging materials, feed additives, and related services including commercial trade, technology development, tourism, and ecological brewing. The company offers core liquor brands encompassing Shede series (such as Wisdom Shede, Taste Shede, Shede Aged Spirits, Pinwei Shede, Crystal Shede, Shede Guancang, and She Dao); Tuopai series (including Tuopai Tianqu, Tuopai Tequ, Tuopai Youqu, Tuopai Daqu, Tuopai Special Qu, Tuopai Curve Wine 80 edition, 2009/1988 Tuopai Tianqu, Tuopai Liuliu, Tuopai Museum Collection, and Tuopai Tequ窖龄 20/30); Tunzhihu (Tianzihu) series (such as 20-year original degree old liquor in Chenxiang and Jiangxiang flavors); Taozui (Intoxication) series; Shangshu Fang; Pinwei Dashi Yan; and customized liquors, all produced using ecological brewing techniques with over 10,000 old cellars and a six-grain process emphasizing aged base liquors of 3 to 20 years or more. Founded in 1940 and headquartered at No. 999 Tuopai Avenue, Tuopai Town, Shehong County, Suining, Sichuan Province, China, Shede Spirits operates mainly in the domestic market with a focus on premium baijiu segments targeting consumers, distributors, and tourism visitors through its 6.5 square kilometer ecological park; it was formerly known as Sichuan Tuopai Shede Spirits Co., Ltd. and listed as China's third A-share liquor company in 1996, recognized among Sichuan's "Six Golden Flowers" and as a "Chinese Famous Spirits" enterprise. Recent developments include the completion of a share repurchase program announced October 29, 2024, acquiring 1,671,994 shares (0.51% of capital) for CNY 100.04 million; securing CNY 140 million in share repurchase financing from Bank of China Sichuan Branch in November 2024; launching new products like low-alcohol "Shede Zizai" and a brand campaign film in October 2025; initiating overseas expansion via Fosun with old wine festivals in Singapore and Malaysia in August 2025; and planning to acquire 47,348 square meters of residential and commercial properties from controlling shareholder Sichuan Tuopai Shede Group for CNY 56.7 million in June 2025 to support employee housing and tourism services.