1. China Stocks

  2. •

    Consumer non-durables

  3. •

    Beverages: alcoholic
Qinghai Huzhu TianYouDe Highland Barley Spirit Co., Ltd. Class A

Qinghai Huzhu TianYouDe Highland Barley Spirit Co., Ltd. Class A

SSZSE:002646
6.81
CNY
+0.09
(+1.34%)
-0.05EPS
3.02BMarket Cap
Oct 30Next Earn
Qinghai Huzhu TianYouDe Highland Barley Spirit Co., Ltd. Class A
SZSE:002646
(Shenzhen Stock Exchange)

Recent

price

6.81

P/E

ratio

- -

div

yld

0.01%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
1.67
2.16
2.66
3.19
3.01
3.03
3.19
2.93
3
2.79
1.7
2.29
2.07
2.56
2.63
2.31
2.19
Revenue per Share
0.38
0.54
0.67
0.83
0.71
0.51
0.48
-0.21
0.24
0.08
-0.26
0.14
0.16
0.19
0.09
0.01
-0.05
Basic EPS, GAAP
0.15
0.04
0.26
-0.06
-0.07
-0.03
0.36
-0.36
0.06
-0.49
-0.36
-0.03
-0.14
0.02
-0.18
-0.13
- -
Free Cash Flow per Basic Share
0.01
0.07
0.2
0.25
0.31
0.3
0.19
0.17
0.08
0.13
0.04
0.01
0.06
0.06
0.17
0.01
- -
Dividend per Share
3.78
3.49
3.96
4.54
4.94
5.21
5.5
5.13
5.31
5.27
4.99
5.75
5.84
5.85
5.84
5.91
5.93
Book Value per Share
3.52
3.42
3.83
4.38
4.56
4.43
4.73
4.76
4.94
4.91
4.63
5.42
5.51
5.55
5.54
5.62
5.65
Tangible Book Value per Share
358
390
450
450
450
450
450
450
450
450
450
459
472
472
478
478
474
Basic Weighted Avg Shares
597
842
1,197
1,438
1,355
1,364
1,437
1,318
1,349
1,254
764
1,054
980
1,210
1,255
1,101
1,038
Sales/Revenue/Turnover
32.62
32.38
29.68
29.22
25.93
19.29
19.19
7.68
11.04
3.96
-12.62
9.47
9.18
11.83
5.44
3.58
1.68
Operating Margin (%)
7
10
16
25
34
39
44
63
69
77
77
82
91
91
85
81
- -
Depreciation Expense
136
212
301
373
317
231
216
-94
108
36
-115
63
76
90
42
4
-23
Net Income, GAAP
25.87
25.3
24.7
22.68
21.84
25.64
29.64
- -
37.41
61.15
- -
36.36
30.48
36.01
41.13
85.28
- -
Effective Tax Rate (%)
22.71
25.14
25.19
25.97
23.41
16.94
15.04
-7.14
7.98
2.88
-15.07
6
7.72
7.4
3.36
0.39
-2.23
Profit Margin (%)
322
1,364
1,361
1,287
1,275
1,023
974
924
997
956
844
1,324
1,384
1,439
1,388
1,441
1,486
Working Capital
30
27
- -
- -
- -
- -
- -
- -
- -
- -
22
22
29
25
24
22
23
LT Debt
454
1,569
1,781
2,042
2,224
2,337
2,464
2,298
2,377
2,361
2,230
2,696
2,736
2,803
2,795
2,814
2,824
Total Equity
33.78
17.73
16.03
17.15
13.57
9.59
8.16
- -
4.19
0.88
- -
2.24
2.68
3.34
1.52
0.17
- -
Return on Invested Capital (%)
36.05
19.88
17.73
19.53
15
10.51
8.99
- -
4.86
2.09
- -
2.63
2.83
2.98
1.46
0.16
- -
Return on Capital (%)
42.88
20.92
17.99
19.53
14.87
10.11
8.96
-3.94
4.58
1.52
-4.98
2.55
2.77
3.21
1.5
0.15
-0.81
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
41
15
25
LT Borrowings
9
9
9
LT Finance Leases
13
16
14
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
479
479
479
Market Capitalization
4,144
3,857
3,023

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,776
1,792
1,768
Cash, Cash Equivalents & STI
201
298
276
Accounts Receivable, Net
27
19
18
Inventories
1,518
1,451
1,448
Total Current Liabilities
335
282
282
Payables & Accruals
- -
- -
- -
ST Debt
41
15
25
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.11%
5.05%
0.67%
Free Cash Flow
-367.55%
-213.08%
-25.77%
Net Income, GAAP
-110.9%
-51.92%
-89.8%
Sales/Revenue/Turnover
-0.08%
9.18%
-12.24%
Total Cash Common Dividend
52.64%
126.45%
-91.45%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
526
233
228
268
1,255
2025
432
242
- -
221
1,101
2026
406
169
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.23
-0.06
-0.05
-0.03
0.09
2025
0.14
-0.03
- -
-0.04
0.01
2026
0.1
-0.08
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.13
0.03
- -
0.17
2025
- -
- -
- -
- -
0.01
2026
- -
- -
- -
- -
- -
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Business
Qinghai Huzhu TianYouDe Highland Barley Spirit Co., Ltd. engages in the research, development, production, and sales of highland barley spirits in China. The company offers a range of highland barley wine products under leading brands including Tianyoude, Huzhu, Yongqinghe, Shiyide, Tibetu, Maxville, Bada Zuofang, and Eight Workshops; it also produces wine from grapes following its entry into the imported wine market. Highland barley, the core raw material, is sourced from nearly 100,000 acres of organic planting bases in the cold, pollution-free regions of Tibet, Qinghai, and Gannan in Gansu, brewed with glacial meltwater from the Qinghai-Tibet Plateau using traditional techniques inscribed as national intangible cultural heritage in June 2021. Founded in 2005 and headquartered in Haidong, Qinghai Province, the company traces its brewing heritage to the Ming Dynasty's Tianyoude Tavern in 1373 and listed on the Shenzhen Stock Exchange in December 2011 under ticker 002646.SZ. In January 2022, it renamed its stock abbreviation to Tianyoude Spirits while retaining the code 002646.SZ; recent expansions include acquiring a Napa vineyard in the United States, the Zhongjiu online e-commerce platform to enhance distribution, and launching new products such as oak-aged highland barley spirits, organic highland barley spirits, and low-alcohol variants. These initiatives support diversified development centered on highland barley spirits, with products earning TTB certification for U.S. market entry and awards at international competitions like the Los Angeles International Spirits Competition and Hong Kong International Wine & Spirits Competition.