Yantai Changyu Pioneer Wine Company Limited (200869.SZ)

Yantai Changyu Pioneer Wine Company Limited (200869.SZ) — VMCI valuation read

Yantai Changyu Pioneer Wine Company Limited sits at VMCI 55/100, with the Consumer Defensive sector median at 50. That 5-point spread is the first thing to note on 200869.SZ: it tells the reader the composite is favorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on 200869.SZ are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on 200869.SZ: 200869.SZ trades at 26.0x earnings, 44% above the Consumer Defensive median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 8.0% trails the Consumer Defensive median (10.0%) by 2.0pp. The Risk read: net debt to EBITDA of -0.4x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

200869.SZ fell 1.2% over the trailing 7 days, with a -22.9% read on a 30-day basis.