1. People's Republic of China Stocks

  2. •

    Consumer Defensive

  3. •

    Packaged Foods
Foshan Haitian Flavouring and Food Company Ltd.

Foshan Haitian Flavouring and Food Company Ltd.

603288.SS
Foshan Haitian Flavouring and Food Company Ltd.CN flagShanghai Stock Exchange
34.19
CNY
-0.17
- -
190.12BMarket Cap
Foshan Haitian Flavouring and Food Company Ltd.
603288.SS
(Shanghai Stock Exchange)

Recent

price

34.19

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
1.42
1.13
1.32
1.57
1.75
2
2.2
2.59
3.02
3.5
4.1
4.5
4.59
4.41
4.83
5.05
3.99
Revenue per Share
0.17
0.18
0.23
0.3
0.37
0.44
0.5
0.63
0.77
0.95
1.15
1.2
1.11
1.01
1.14
1.23
1.01
Basic EPS, GAAP
0.06
0.12
0.32
0.17
0.33
0.26
0.58
0.79
1.02
1.06
1.09
0.95
0.41
0.97
0.95
1.13
-0.15
Free Cash Flow per Basic Share
0.14
0.07
0.12
0.25
0.07
0.23
0.29
0.33
0.41
0.47
0.53
0.6
0.58
0.58
0.66
1.1
1.14
Dividend per Share
0.29
0.3
0.39
0.42
0.82
1.19
1.36
1.62
1.98
2.46
3.17
3.8
4.28
4.64
5.12
5.14
5.17
Book Value per Share
0.62
0.55
0.66
0.72
1.31
1.52
1.74
2.05
2.43
2.91
3.55
4.15
4.65
5.02
5.46
7.14
7.14
Tangible Book Value per Share
3,883
5,368
5,347
5,350
5,603
5,642
5,662
5,636
5,634
5,653
5,560
5,559
5,584
5,571
5,565
5,722
5,818
Basic Weighted Avg Shares
5,516
6,091
7,070
8,402
9,817
11,294
12,459
14,584
17,034
19,797
22,792
25,004
25,610
24,559
26,905
28,873
23,189
Sales/Revenue/Turnover
16.97
19.13
20.81
22.39
24
25.41
26.24
27.32
28.16
29.68
31.08
28.27
25.4
24.16
25.47
27.63
29.01
Operating Margin (%)
111
122
200
225
283
354
381
442
443
479
574
744
832
919
905
835
- -
Depreciation Expense
660
956
1,208
1,606
2,090
2,510
2,843
3,531
4,365
5,353
6,403
6,671
6,198
5,627
6,344
7,038
5,872
Net Income, GAAP
16.29
18.71
18.94
18.69
16.14
16.66
16.71
16.22
16.39
16.01
16.14
14.7
15.77
16.28
15.4
18.03
17.17
Effective Tax Rate (%)
11.97
15.69
17.08
19.12
21.29
22.22
22.82
24.21
25.62
27.04
28.09
26.68
24.2
22.91
23.58
24.38
25.32
Profit Margin (%)
528
711
1,024
628
3,568
4,471
5,425
7,280
9,687
12,291
15,101
18,102
20,254
21,838
23,847
28,130
28,440
Working Capital
- -
- -
- -
- -
116
- -
- -
- -
- -
- -
75
54
123
100
62
61
62
LT Debt
2,529
3,086
3,659
3,914
7,488
8,751
10,014
11,764
13,888
16,598
20,166
23,500
26,884
29,033
31,396
41,840
42,532
Total Equity
29.29
32.49
34.12
39.01
33.48
28.53
28.22
29.86
30.2
31.09
31
26.64
21.14
17.3
18.7
17.44
14.29
Return on Invested Capital (%)
38.93
69.43
64.84
73.13
60.03
43.3
38.97
41.89
42.85
42.59
40.21
33.95
26.92
21.82
22.59
23.67
18.86
Return on Capital (%)
56.11
69.43
64.84
73.69
61.03
44.46
39.49
41.92
42.96
42.73
40.63
34.41
27.51
22.62
23.35
24.31
19.31
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
219
302
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
61
62
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
5,852
5,852
Market Capitalization
214,492
203,811
238,553

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
37,984
33,798
Cash, Cash Equivalents & STI
- -
34,709
30,921
Accounts Receivable, Net
- -
296
302
Inventories
- -
2,408
1,989
Total Current Liabilities
- -
9,853
5,358
Payables & Accruals
- -
- -
- -
ST Debt
- -
219
302
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.13%
16.06%
33.26%
Free Cash Flow
28.22%
17.17%
22.77%
Net Income, GAAP
11.49%
2.31%
10.95%
Sales/Revenue/Turnover
10.04%
4.98%
7.32%
Total Cash Common Dividend
18.71%
19.26%
71.09%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,694
6,462
6,243
6,502
26,905
2025
8,317
6,915
- -
7,245
28,873
2026
9,029
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.35
- -
- -
- -
1.14
2025
0.4
- -
- -
- -
1.23
2026
0.42
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.66
2025
- -
- -
- -
- -
1.1
2026
0.3
- -
- -
- -
- -
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Business
Foshan Haitian Flavouring and Food Company Ltd. (603288.SS; 03288.HK) manufactures and distributes a broad range of condiments and food products under the flagship Haday brand, primarily focusing on soy sauce, where it holds the position of the world's largest producer by sales. The company offers an extensive portfolio including soy sauce; oyster sauce; bean paste; vinegar; cooking wine and rice wine; granulated chicken bouillon; fermented bean curd; seasoning extracts; chicken powder seasonings; sesame oil; monosodium glutamate; pickles; grain products; beverages; and gift boxes, alongside complementary activities such as waste packaging recycling, distribution of plastic, paper, and glass products, property and equipment leasing, information consulting services, and real estate development. These products serve household consumers, foodservice operators, and private label partners, with exports reaching over 80 countries and regions. Founded in 1955 and headquartered at No. 16 Wensha Road, Foshan, Guangdong Province, China, the company operates production facilities primarily in China and is a subsidiary of Guangdong Haitian Group Co., Ltd. In June 2025, Foshan Haitian completed an initial public offering on the Main Board of the Hong Kong Stock Exchange, raising approximately US$1.29 billion and becoming the first condiment company with an A+H share structure, following its 2014 Shanghai listing; the proceeds support market leadership reinforcement, new category expansions, technological upgrades, production capacity enhancements, and supply chain optimization. In June 2025, the company also secured CNY 3.5 billion (approximately US$350 million) in funding to bolster ongoing growth initiatives. Additionally, in October 2025, it entered a property lease agreement with its affiliate Foshan Tiande Technology Co., Ltd. for facilities in Foshan, effective from December 2025 through November 2028, to support operational expansion. These developments underscore its strategic push amid 2024 sales revenue exceeding 28 billion RMB and a workforce of over 9,000 employees.