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FuJian YanJing HuiQuan Brewery Co (600573) Fair Value & Analysis

Consumer Defensive · CN · Market cap 2.4B CNY

FY FuJian YanJing HuiQuan Brewery Co 600573 · SHG
Price¥9.64
Fair Value¥6.72
Upside-30.3%
Quality68/100
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Weak Growth
Solidly profitable · 12.6% net margin
Low debt · generates free cash flow
1.03% dividend yield
Trails peers (5/14)
Narrow moat 41/100
Evidence: High Range ¥5.04 – ¥8.40 Share as image

Fair value as of: Aug 8, 2026

From 22 valuation models · updated 2 days ago

Share price +7.7% over the past month.

A solid business, but screening 30% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥8.40). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥14.17 ¥7.78 Fair Value ¥6.72 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥7.78 – ¥14.17 · fair‑value band ¥5.04 – ¥8.40 · the ¥9.64 price screens above the ¥6.72 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

FuJian YanJing HuiQuan Brewery Co (600573) currently trades at ¥9.64, while our model-based Fair Value estimate is ¥6.72, implying the stock looks roughly 30.3% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, FuJian YanJing HuiQuan Brewery Co generated revenue of 650M CNY at a net margin of 12.6%. Revenue grew 6.6% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of 1.2B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥5.04 (bear case) to ¥8.40 (bull case); at ¥9.64, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -8% fair-value upside, at -30%, 600573 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥7.73 ¥8.88 ¥10.80 80
Residual Income ¥4.20 ¥4.30 ¥4.25 76
Rev-Margin DCF ¥6.81 ¥7.85 ¥9.16 74
All 22 models by family
DCF Models
FCF DCF ¥7.59 ¥8.79 ¥10.95 38
Owner Earnings ¥7.76 ¥9.03 ¥11.31 31
5Y Revenue Exit ¥6.81 ¥7.78 ¥9.17 39
5Y EBITDA Exit ¥7.28 ¥8.59 ¥10.32 41
5Y P/E Exit ¥8.20 ¥10.19 ¥12.56 38
10Y Revenue Exit ¥7.05 ¥7.78 ¥8.55 36
10Y EBITDA Exit ¥7.38 ¥8.27 ¥9.21 37
10Y P/E Exit ¥7.93 ¥9.24 ¥10.49 35
Earnings-Based
Graham-Dodd ¥2.18 ¥2.66 ¥2.99 54
EPV ¥6.19 ¥6.49 ¥6.75 59
Multiples
P/E Multiple ¥5.04 ¥6.72 ¥8.40 63
P/S Multiple ¥3.07 ¥4.10 ¥5.12 58
P/B Multiple ¥4.08 ¥5.44 ¥6.80 55
EV/EBIT ¥7.35 ¥8.36 ¥9.38 53
EV/EBITDA ¥7.54 ¥8.62 ¥9.70 54
EV/Revenue ¥6.47 ¥7.41 ¥8.34 43
Asset-Based
NCAV (Graham) ¥2.72 ¥3.64 ¥5.43 50
Growth DCF
Growth DCF ¥7.73 ¥8.88 ¥10.80 80
Rev-Margin DCF ¥6.81 ¥7.85 ¥9.16 74
Economic Profit
Residual Income ¥4.20 ¥4.30 ¥4.25 76
ROIC Compounder ¥6.19 ¥6.57 ¥6.95 72
Growth Earnings
Growth-Adj P/E ¥3.56 ¥5.08 ¥6.61 68

Widest divergence: DCF Models (¥8.59) versus Earnings-Based (¥2.66). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 650M CNY
Revenue growth (YoY) +6.6%
Net margin 12.6%
Return on equity 6.1%
Free cash flow 88.7M CNY FY2025
P/E ratio 41.2
More key figures
Operating margin 5.1%
EPS (TTM) ¥0.3300
Dividend yield 0.8%
EPS growth (YoY) +32.0%
Net cash 1.2B CNY FY2024

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 68 · Market factors (momentum, volatility) 28

Profitability 34
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

FuJian YanJing HuiQuan Brewery Co.,Ltd produces and sells beer in China. The company offers Huiquan Wheat, Huiquan Pure Draft, Huiquan European Knight, Huiquan Fresh Beer, Huiquan 1983, and the Old Huiquan beer series products. It is also involved in waste material recycling and sales; and trade activities.

Full company description

FuJian YanJing HuiQuan Brewery Co.,Ltd produces and sells beer in China. The company offers Huiquan Wheat, Huiquan Pure Draft, Huiquan European Knight, Huiquan Fresh Beer, Huiquan 1983, and the Old Huiquan beer series products. It is also involved in waste material recycling and sales; and trade activities. The company was formerly known as Fujian Huiquan Brewery Group Co., Ltd. and changed its name to FuJian YanJing HuiQuan Brewery Co.,Ltd in May 2004. The company was incorporated in 1997 and is headquartered in Quanzhou City, China. FuJian YanJing HuiQuan Brewery Co.,Ltd is a subsidiary of Beijing Yanjing Brewery Co.,Ltd.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FuJian YanJing HuiQuan Brewery Co reported revenue of ¥640M in FY2025 versus ¥582M in FY2021, a compound +2.4%/yr. Reported net income was ¥80.0M in FY2025, compounding +26.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
640M CNY
Latest YoY
−1.0%
Avg. growth/yr (3Y)
+1.4%
Avg. growth/yr (5Y)
+0.8%
Avg. growth/yr (25Y)
−1.3%
Revenue +2.4%/yr
FY21 ¥582M
FY22 ¥613M
FY23 ¥614M
FY24 ¥647M
FY25 ¥640M
Net income +26.7%/yr
FY21 ¥31.0M
FY22 ¥39.8M
FY23 ¥48.5M
FY24 ¥64.8M
FY25 ¥80.0M

600573 screens 30% overvalued. Compare with Anheuser-Busch InBev SA →

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Cite: Fair Value Calculator (2026). "FuJian YanJing HuiQuan Brewery Co Fair Value". https://www.fairvalue-calculator.com/stock/600573

Peer Group

Beverages - Brewers · 52 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 68 · Top 25%
Fair Value upside −30% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Bottom 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth 7% · Top 25%
Dividend yield (TTM) 1.0% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Beverages - Brewers median · lower = cheaper

P/E (TTM) 29.2× · Pricier than 75% of peers
P/B 1.78× · Cheaper than median
P/S (TTM) 3.71× · Pricier than 75% of peers
P/FCF 4.0× · Pricier than median
EV/EBITDA 16.7× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 34
FUTURE 33 · sector 3
PAST 24 · sector 36
HEALTH 100 · sector 97
DIVIDEND 21 · sector 54

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Anheuser-Busch InBev SA 1ABI €73.62 €41.60 -43%
Ambev S.A ABEV 14,120 ARS 6,060 ARS -57%
Fomento Económico Mexicano, S.A. FEMSAUBD 222.91 MXN 201.74 MXN -9%
Heineken N.V HEIA €77.24 €65.06 -16%
Constellation Brands, Inc STZ $135.72 $177.43 +31%
Carlsberg A/S CARLA kr 1,125 kr 607.30 -46%
Heineken Holding HEIO €71.20 €72.67 +2%
Tsingtao Brewery Company 600600 ¥53.60 ¥63.65 +19%
Budweiser Brewing Company 1876 HK$6.58 HK$6.05 -8%
Molson Coors Canada Inc TPXA C$63.10 C$74.42 +18%

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Frequently asked questions

Is FuJian YanJing HuiQuan Brewery Co (600573) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥6.72 versus a price of ¥9.64, about −30% (overvalued).
What is the fair value of 600573?
Our model-based fair value for FuJian YanJing HuiQuan Brewery Co is ¥6.72 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥9.64.
What is the quality score of 600573?
FuJian YanJing HuiQuan Brewery Co has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of FuJian YanJing HuiQuan Brewery Co (600573)?
FuJian YanJing HuiQuan Brewery Co reported trailing-twelve-month revenue of about 650M CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600573?
The net profit margin of FuJian YanJing HuiQuan Brewery Co is about 12.6%, meaning it keeps roughly 12.6% of revenue as net income. Based on the latest reported figures.
Does FuJian YanJing HuiQuan Brewery Co pay a dividend?
FuJian YanJing HuiQuan Brewery Co currently shows a dividend yield of about 0.75% relative to its recent price (as of Aug 8, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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