My Favorite Chinese Stock at a Fair Price
The author considers Kweichow Moutai to be the best alcohol company in the world, with a strong brand, high profit margins, and loyal customer base. The stock is trading at a 25.8% discount to its 10-year average P/E (NTM). The author's conservative valuation model suggests a +133.4% upside to an intrinsic value of CNY 3,655 per share.
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