CITIC maintains Buy for Shanxi Xinghuacun Fen Wine Factory stock
Published on 10/13/2026 at 10:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS- CITIC Construction Investment maintained a Buy rating on September 26, 2026, while cutting its earnings forecasts.
- First-half 2026 revenue fell 12.18 percent to CNY 21.04 billion and attributable net profit fell 24.29 percent to CNY 6.44 billion.
- The stock was last at CNY 114.29 on the Shanghai Stock Exchange on October 13, 2026, with a market capitalization of CNY 139.4 billion.
- Inventory control, lower shipments and higher selling expenses are central to the current earnings reset.
CITIC Construction Investment maintained a Buy rating on Shanxi Xinghuacun Fen Wine Factory stock on September 26, 2026, while cutting its earnings forecasts, according to Futunn. The note projected 2026 revenue of CNY 33.50 billion and attributable net profit of CNY 9.60 billion, putting the forecast reset alongside a weaker first half.
First-half profit falls sharply
For the first half of 2026, revenue fell 12.18 percent to CNY 21.04 billion, while attributable net profit fell 24.29 percent to CNY 6.44 billion, Futunn reported on September 26, 2026. Second-quarter revenue fell 17.74 percent to CNY 6.12 billion and attributable net profit fell 43.11 percent to CNY 1.06 billion.
The figures show that the pressure intensified during the second quarter. The company is controlling shipments and working through channel inventory, a strategy that prioritizes distribution health over short-term sales volume, according to the same Futunn report.
What does the forecast cut mean?
The earnings reset is tied to operating choices as well as demand. First-half gross margin was 75.40 percent, while the selling expense ratio rose to 12.45 percent, up 2.51 percentage points year over year, reflecting higher brand promotion and terminal incentives.
There is a counterweight in cash generation. Operating cash flow reached CNY 6.65 billion in the first half of 2026, up 11.23 percent year over year, even as revenue declined. The company also continued its 2025 to 2027 dividend commitment of at least 65 percent of attributable net profit, according to Futunn's September 26, 2026 analysis.
Shanghai listing remains near yearly low
Shanxi Xinghuacun Fen Wine Factory was last at CNY 114.29 on the Shanghai Stock Exchange on October 13, 2026 at 3:00 p.m. CST. Its market capitalization was CNY 139.4 billion, and the 52-week range was CNY 103.64 to CNY 203.58.
The listing and ticker are identified as Shanghai: 600809 by 6ix. The same profile classifies the company in consumer non-durables and alcoholic beverages, while its 2026 semi-annual report is dated August 31, 2026.
Stock facts and trading context
The combination of a 24.29 percent first-half profit decline and an 11.23 percent increase in operating cash flow gives the current story two opposing signals. Earnings are under pressure, but cash conversion and the dividend commitment provide a measurable financial cushion.
Key stock facts
- Company: Shanxi Xinghuacun Fen Wine Factory Co., Ltd.
- ISIN: CNE000000DH5
- Ticker: 600809
- Primary exchange: Shanghai Stock Exchange
- Price Shanghai Stock Exchange (as of October 13, 2026, 3:00 p.m. CST): CNY 114.29
- Market capitalization: CNY 139.4 billion (as of October 13, 2026)
- 52-week range: CNY 103.64-203.58
- Sector / Industry: Consumer Non-Durables / Alcoholic Beverages
Market context: Market report Shanghai Composite.
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