Company Deep Dive
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603288.SS
HOLDREMOVEFoshan Haitian Flavouring and Food Company Ltd. · Consumer Defensive · China · $28.6B · Avg Vol: $98M/d
Foshan Haitian is a dominant soy sauce producer with high historical ROIC and a strong distribution moat. However, it lacks any alignment with our 18-month macro themes and currently faces valuation and growth normalization headwinds in China.
COMPANY DESCRIPTION
Foshan Haitian Flavouring and Food is China's largest manufacturer of soy sauce and other condiments, including oyster sauce and vinegar. The company's formidable competitive moat is built on its massive scale, unparalleled nationwide distribution network, and high brand equity among domestic consumers. It operates as the dominant market leader in the Chinese condiment industry, enjoying superior pricing power and high operating margins.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|
| Revenue | 3.8B | 3.6B | 4.0B | 4.3B | 4.1% |
| EPS | 0.16 | 0.15 | 0.17 | 0.18 | 3.5% |
| Shares | 5.6B | 5.6B | 5.6B | 5.9B | +5.2% |
| Debt | 40.7M | 73.1M | 57.0M | 41.3M | 0.5% |
| Equity | 3.9B | 4.2B | 4.6B | 6.1B | 16.1% |
| Op CF | 566.0M | 1.1B | 1.0B | 1.1B | 26.5% |
| Inv CF | -688.4M | -121.2M | -557.4M | -2.0B | — |
| Fin CF | -593.7M | -421.2M | -591.4M | 541.4M | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Consumer Defensive, ranked by industry match, size, and score similarity. Cross-listings of 603288.SS are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| 603288.SS | Foshan Haitian Flavouring and Food Company Ltd.(you) | $28.6B | 54 | HOLD |
| 600887.SS | Inner Mongolia Yili Industrial Group Co., Ltd. | $23.0B | 59 | HOLD |
| 000895.SZ | Henan Shuanghui Investment & Development Co.,Ltd. | $11.7B | 62 | HOLD |
| 002311.SZ | Guangdong Haid Group Co., Limited | $10.1B | 42 | HOLD |
| 300999.SZ | Yihai Kerry Arawana Holdings Co., Ltd | $19.7B | 20 | STRONG SELL |
| 300146.SZ | Byhealth Co., Ltd | $2.6B | 59 | HOLD |
| 600186.SS | Lotus Holdings Co.,Ltd. | $3.8B | 69 | BUY |
| 002507.SZ | Chongqing Fuling Zhacai Group Co., Ltd. | $1.9B | 56 | HOLD |
| 6186.HK | China Feihe Limited | $3.3B | 70 | BUY |
| 603345.SS | Anjoy Foods Group Co., Ltd. | $4.2B | 79 | BUY |
Peer medians: ROE 8.4% · P/E 20.9x · Gross margin 33.2%