Jiangsu Yanghe Brewery Joint-Stock Company (SHE: 002304)

Jiangsu Yanghe Brewery JSC, founded in 2002, manufactures and markets baijiu (a distilled Chinese liquor) under the Yanghe, Shuanggou, and Sujiu brands. Yanghe's key products include the Blue Classic series, which accounted for 70%-75% of total sales, such as superpremium Blue of Dream, premium Blue of Sky, and mass-market Blue of Ocean. The company achieved revenue of CNY 21.1 billion in 2020, with 50% of sales from the non-Jiangsu market, leveraging its 386 sales branches and 8,000-plus distributors across China.