---
title: "Changyu (200869.SZ)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/200869.SZ.md"
symbol: "200869.SZ"
name: "Changyu"
industry: "酿酒业"
---

# Changyu (200869.SZ)

| Item | Detail |
|------|--------|
| Industry | 酿酒业 |

## Company Profile

公司是依据中华人民共和国 (“中国”)《公司法》由发起人烟台张裕集团有限公司以其拥有的有关经营酒类业务的资产及负债进行合并重组并改制而成的股份有限公司。公司从事的主要业务为生产经营葡萄酒和白兰地，从而为国内外消费者提供健康、时尚的酒类饮品。公司产品分为葡萄酒和白兰地两大系列，其中葡萄酒主要有张裕、解百纳、爱斐堡、龙谕、黄金冰谷、醉诗仙、味美思、瑞那、巴保男爵、多名利、爱欧、歌浓和魔狮等品牌;白兰地主要有可雅、醴泉、迷霓、派格尔、富郎多等品牌。企业荣誉：获得中国轻工业联合会科技进步奖;“澳大利亚年度最佳葡萄酒生产商” 荣誉称号;“世界年度最佳设拉子” 奖杯;“澳大利亚年度最佳葡萄酒生产商”;“水...

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-20T04:30:09.000Z

**Overall: C (0.52)**

**Industry**: Distillers and Vintners

| Metric | Value |
|--------|-------|
| Industry Ranking | 21 / 31 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -16.33% |  |
| Net Profit YoY | -19.84% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 0.45 |  |
| Dividend Ratio | 5.52% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 4.69B |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 3.05B |  |


**Multi Score**: C

#### Profit Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 2.56% | C |
| Profit Margin | 8.41% | B |
| Gross Margin | 55.03% | B |

#### Growth Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -16.33% | E |
| Net Profit YoY | -19.84% | D |
| Total Assets YoY | -2.84% | D |
| Net Assets YoY | -2.47% | D |

#### Cash Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | 1189.10% | B |
| OCF YoY | -16.33% | E |

#### Operating Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 0.26 | D |

#### Debt Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 12.78% | A |


```chart-data:radar
{
  "title": "Longbridge Financial Score - Changyu",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "C",
      "indicators": [
        {
          "name": "ROE",
          "value": "2.56%",
          "rating": "C"
        },
        {
          "name": "Profit Margin",
          "value": "8.41%",
          "rating": "B"
        },
        {
          "name": "Gross Margin",
          "value": "55.03%",
          "rating": "B"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "D",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-16.33%",
          "rating": "E"
        },
        {
          "name": "Net Profit YoY",
          "value": "-19.84%",
          "rating": "D"
        },
        {
          "name": "Total Assets YoY",
          "value": "-2.84%",
          "rating": "D"
        },
        {
          "name": "Net Assets YoY",
          "value": "-2.47%",
          "rating": "D"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "C",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "1189.10%",
          "rating": "B"
        },
        {
          "name": "OCF YoY",
          "value": "-16.33%",
          "rating": "E"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "D",
      "indicators": [
        {
          "name": "Turnover",
          "value": "0.26",
          "rating": "D"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "A",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "12.78%",
          "rating": "A"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 贵州茅台 (SH.600519) | A | B | B | A | C | B |
| 02 | 山西汾酒 (SH.600809) | A | C | B | B | C | B |
| 03 | 金徽酒 (SH.603919) | B | C | B | B | C | B |
| 04 | 会稽山 (SH.601579) | B | B | C | A | B | B |
| 05 | 五粮液 (SZ.000858) | A | D | C | A | D | C |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 17.47 | 9/31 | 19.38 | 17.70 | 16.56 |
| PB | 0.45 | 1/31 | 0.51 | 0.48 | 0.46 |
| PS (TTM) | 1.47 | 2/31 | 1.66 | 1.57 | 1.47 |
| Dividend Yield | 5.52% | 2/31 | 6.98% | 5.44% | 5.01% |

## Institutional View

### Analyst Rating Distribution

> As of 2025-06-04T16:00:00.000Z

Total Analysts: **1**

| Rating | Count | Percentage |
|--------|-------|-----------|
| Buy | 1 | 100% |
| Overweight | 0 | 0% |
| Hold | 0 | 0% |
| Underweight | 0 | 0% |
| Sell | 0 | 0% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 8.08 |
| Highest Target | 12.98 |
| Lowest Target | 12.98 |

## References

- [Company Overview](https://longbridge.com/en/quote/200869.SZ/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/200869.SZ/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/200869.SZ/topics.md) - Community topics and discussions

---

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