Hebei Yangyuan ZhiHui Beverage Co Ltd (603156) Fair Value & Analysis
Consumer Defensive · CN · Market cap 60.9B CNY (≈ $9.1B) · ISIN CNE100002ST3
What is Hebei Yangyuan ZhiHui Beverage Co Ltd really worth?
A strong business, but trading 128% above our fair value of ¥17.77.
Strengths
Risks
For context
Fair value as of: Aug 16, 2026
From 24 valuation models · updated 20 days ago
Share price −10.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 78/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (¥22.04). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.
How to read this chart
60‑month range ¥16.90 – ¥54.57 · fair‑value band ¥13.51 – ¥22.04 · the ¥40.43 price screens above the ¥17.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 16, 2026.
Analysis
Hebei Yangyuan ZhiHui Beverage Co Ltd (603156) currently trades at ¥40.43, while our model-based Fair Value estimate is ¥17.77, implying the stock looks roughly 127.5% overvalued today. The Quality Score stands at 78/100 (high quality), in the Consumer Defensive sector. Bull case: the Dividend Discount group reads highest at a median of ¥18.78 per share, and 0 of the 24 models we run sit above the ¥40.43 price. Bear case: the Asset-Based group reads lowest at ¥4.79, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Hebei Yangyuan ZhiHui Beverage Co Ltd generated revenue of 6.0B CNY at a net margin of 23.6%. Revenue grew 37.5% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of 918M CNY. Fundamentals as of Aug 16, 2026
Our scenario range runs from ¥13.51 (bear case) to ¥22.04 (bull case); at ¥40.43, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −23% fair-value upside, at −56%, 603156 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Dividend Discount (¥18.78) versus Asset-Based (¥4.79). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 71
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Hebei Yangyuan ZhiHui Beverage Co., Ltd., together with its subsidiaries, engages in the research, development, processing, production, and sale of vegetable protein beverages using walnut kernels in China.
Full company description
Hebei Yangyuan ZhiHui Beverage Co., Ltd., together with its subsidiaries, engages in the research, development, processing, production, and sale of vegetable protein beverages using walnut kernels in China. The company offers walnut milk, walnut soybean milk, walnut peanut milk, walnut almond milk, and other plant protein beverages under the Six Walnuts, Six Walnuts 2430, and Yangyuan Plant Milk brands. It also engages in investment management activities. The company sells its products online. The company was formerly known as Hebei Yuanyuan Health Beverage Co., Ltd. Hebei Yangyuan ZhiHui Beverage Co., Ltd. was founded in 1997 and is headquartered in Hengshui, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Hebei Yangyuan ZhiHui Beverage Co Ltd reported revenue of 5.3B CNY in FY2025 versus 6.9B CNY in FY2021, a compound −6.2%/yr. Reported net income was 1.3B CNY in FY2025, compounding −12.1%/yr from FY2021.
of which total revenue −3.4 % · buybacks/dilution −0.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
603156 screens 128% overvalued. Compare with The Coca-Cola Company →
Peer Group
Beverages - Non-Alcoholic · 87 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Beverages - Non-Alcoholic median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The Coca-Cola Company KO | $89.06 | $36.57 | −59% |
| PepsiCo, Inc PEP | $139.72 | $106.91 | −23% |
| Monster Beverage Corporation MNST | $46.70 | $35.82 | −23% |
| Nongfu Spring Co 9633 | HK$42.54 | HK$30.90 | −27% |
| Coca-Cola Europacific Partners PLC CCEP | €92.10 | €70.86 | −23% |
| Keurig Dr Pepper Inc KDP | $32.18 | $30.99 | −4% |
| Coca-Cola FEMSA, S.A. KOF | $112.58 | $108.50 | −4% |
| Coca-Cola HBC AG EEE | €53.10 | €46.77 | −12% |
| Varun Beverages Limited VBL | ₹431.00 | ₹187.49 | −56% |
| Eastroc Beverage (Group) Co 605499 | ¥123.07 | ¥107.57 | −13% |
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