---
title: "Haitong International: Maintains JINHUI \"Outperform Market\" Rating, Target Price 22 Yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/250080911.md"
description: "Haitong International maintains a \"Buy\" rating on JINHUI, with a target price of 22 yuan. Despite the industry facing deep adjustments, JINHUI is expected to achieve total revenue exceeding 3 billion yuan for the first time in 2024, driven by its high-end positioning and expansion outside the province, with a net profit of 410 million yuan. The company's product structure is transitioning towards high-end, and future growth potential remains promising"
datetime: "2025-07-25T06:30:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/250080911.md)
  - [en](https://longbridge.com/en/news/250080911.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/250080911.md)
generator: "portal-rs"
---

# Haitong International: Maintains JINHUI "Outperform Market" Rating, Target Price 22 Yuan

Haitong International's research report points out that the deep adjustment in the industry has become a consensus, and most liquor companies' performance is under pressure in Q2 2025. Recently, several liquor companies have released performance forecasts, indicating that revenue and profit in Q2 2025 are generally under pressure. Some liquor companies have stated that traditional consumption scenarios such as business banquets and receptions continue to be under pressure, and the market recovery pace is slowing down. From 2015 to 2024, JINHUI's revenue and net profit attributable to the parent company have compound growth rates of +11.0% and +9.9%, respectively. Benefiting from high-end product development and expansion outside the province, the company's total revenue steadily increased, breaking through 3 billion yuan for the first time in 2024, a year-on-year increase of +18.6%. In terms of net profit, the company experienced a temporary adjustment in net profit from 2020 to 2022 due to rising costs; however, it began to achieve positive growth in 2023, mainly due to the increase in high-end product sales. In 2025, the company has set its growth rate in line with industry trends, targeting total revenue of 3.28 billion yuan and net profit of 410 million yuan, aiming for steady progress. In recent years, the company's product structure has been characterized by breakthroughs in high-end products, stability in mid-range products, and contraction in low-end products. Considering the upward potential of the company's structural upgrade and the ample expansion space outside the province, and referencing the valuation levels of comparable companies, we assign a 27x PE for the company in 2025, with a target price of 22 yuan, maintaining an "outperform the market" rating

### Related Stocks

- [603919.CN](https://longbridge.com/en/quote/603919.CN.md)

## Related News & Research

- [03:39 ETWalovi Accelerates Global Push with WALOVI Singapore HQ Launch and Trio of Southeast Asia Deals](https://longbridge.com/en/news/297003145.md)
- [Saskatchewan sets 50% tariff on US alcohol after new Trump tariffs on Canadian goods](https://longbridge.com/en/news/297087971.md)
- [Lenzing shareholders approve EUR 300 million capital increase at extraordinary meeting](https://longbridge.com/en/news/296902548.md)
- [16:00 ETCHRIS HEMSWORTH JOINS ARCHIE ROSE DISTILLING CO. AS CO-OWNER AHEAD OF U.S. LAUNCH AND GLOBAL EXPANSION](https://longbridge.com/en/news/296950819.md)
- [19:00 ETMERCAN Group announces its first hotel development in Panama: Pullman Panama City](https://longbridge.com/en/news/297096557.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**