So long as there’s Chinese food, it seems, there will be soy sauce. That explains the growth trajectory of Foshan Haitian, which makes and sells a smorgasbord of condiments vital to Chinese cuisine—including oyster sauce and vinegar as well as soy sauce. It’s the leading brand in the market, and sales to the catering industry contribute the majority of FH’s revenues. As China’s growing middle class opts to eat out more often, the shift away from home cooking should have a positive impact on FH’s income. Soybeans were one of the earliest victims of the China-U.S. trade war, and FH’s costs may swell in the short term. Revenue for the second quarter, meanwhile, were down 14% from the previous quarter. But analysts project future annual growth of up to 17% for the soy sauce giant.
Food & Beverages
|Revenues ($M) (Past 12 Months)||$2,414|
|Profits ($M) (Past 12 Months)||$609|
|Market Value as of Oct. 10, 2018 ($M)||$29,490|