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    600199   CNE000000X61

ANHUI GOLDEN SEED WINERY CO., LTD.

(600199)
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China stocks end lower as Sino-U.S. tensions weigh, liquor makers dive

06/08/2021 | 03:45am EDT

SHANGHAI, June 8 (Reuters) - China stocks fell on Tuesday, weighed down by consumer and liquor firms, as investors worried about lofty valuations and Sino-U.S. tensions.

** The blue-chip CSI300 index fell 0.9% to 5,232.12, while the Shanghai Composite Index lost 0.5% to 3,580.11.

** Falling the most, the CSI300 consumer staples index dropped 3.4%, while the CSI liquor index tumbled as much as 8.2% before ending down 6.9%.

** Anhui Yingjia Distillery, Sichuan Swellfun , Hebei Hengshui Laobaigan Liquor, Jinhui Liquor and Anhui Golden Seed Winery all slumped by their 10% daily trade limits.

** Top liquor maker Moutai closed down 3.5%.

** The retreat came as the liquor index neared its record high hit in mid-February, and after the index gained 12% and 12.5% in May and April, respectively.

** "The price-to-earnings ratios of liquor makers, not including Moutai and Wuliangye, have reached more than 60 overall, which is way too high despite improvements in their fundamentals," said Yan Kaiwen, an analyst with China Fortune Securities.

** Yan said liquor stocks would face a big correction going forward.

** Meanwhile, U.S. President Joe Biden's order last week banning U.S. investment in certain Chinese companies is broader than a similar one signed by his predecessor Donald Trump and has a lower bar, making it easier to add more companies later.

** U.S. Secretary of State Antony Blinken on Monday signalled that a possible resumption of trade and investment talks with Taiwan stalled since the Obama administration, but gave no indication of any willingness to pursue a full-scale trade pact that Taipei has been seeking.

** Bucking the broader weakness, Chinese EV maker BYD Co Ltd and battery maker CATL gained ground on a report of Apple supply talks. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Devika Syamnath)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANHUI GOLDEN SEED WINERY CO., LTD. -0.69% 14.4 End-of-day quote.-25.81%
ANHUI YINGJIA DISTILLERY CO., LTD. 0.82% 39.16 End-of-day quote.12.21%
APPLE INC. 1.26% 147.36 Delayed Quote.11.06%
HEBEI HENGSHUI LAOBAIGAN LIQUOR CO., LTD. -1.48% 21.93 End-of-day quote.-30.34%
JINHUI LIQUOR CO.,LTD. -1.15% 36.81 End-of-day quote.-9.09%
KWEICHOW MOUTAI CO., LTD. -0.32% 1749.3 End-of-day quote.-12.45%
MSCI TAIWAN (STRD) 0.37% 704.902 Real-time Quote.14.86%
S&P/CITIC 300 INDEX 0.67% 4467.55 Delayed Quote.-3.25%
S&P/CITIC 50 INDEX 0.03% 4170.02 Delayed Quote.-11.21%
SICHUAN SWELLFUN CO.,LTD -3.11% 99.6 End-of-day quote.19.97%
WULIANGYE YIBIN CO.,LTD. 2.39% 240.05 End-of-day quote.-17.75%
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Financials
Sales 2020 1 038 M 161 M 161 M
Net income 2020 69,4 M 10,7 M 10,7 M
Net cash 2020 1 355 M 210 M 210 M
P/E ratio 2020 176x
Yield 2020 -
Capitalization 9 472 M 1 464 M 1 466 M
EV / Sales 2019 3,01x
EV / Sales 2020 11,0x
Nbr of Employees 2 902
Free-Float 62,9%
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Managers and Directors
Xiang Yang Zhang Managing Director
Yu Kui Zhu Chairman-Supervisory Board
Hong Wen Yang Chief Engineer
Hai Shu Jiang Independent Director
Zhi Ying Liu Independent Director