Ningxia Winery Xige Targets IPO Within Five Years

Xige Estate, one of the leading producers in Ningxia’s Helan Mountain East Foothills, plans to go public within five years as it accelerates expansion across multiple wine regions and new product categories, its founder said.

The move positions Xige as the latest Chinese boutique winery seeking to scale up despite a challenging market environment. Unlike Grace Vineyard, which is shifting heavily into non-wine categories, Xige is keeping wine at the centre of its strategy while broadening its footprint.

At a launch event in Chengdu titled “Time Brews Brilliance, A New Journey Begins—Xige’s Second Five-Year Plan”, founder Zhang Yanzhi revealed for the first time that the company aims to go public within the next five years.

In an interview with Vino Joy News, Zhang said the planned listing is aimed at strengthening the company’s long-term position rather than addressing operational needs.

“If Xige becomes a public company, it will be more beneficial for the company’s long-term development, and it will also help drive the overall development of China’s wine industry,” he said. “If it were purely about operations, there would actually be no need for us to go public—we are already in a relatively healthy position.”

Founded in 2017 by Zhang, a former importer of wines, Xige has expanded rapidly, supported by nearly 30,000 mu (about 2,000 hectares) of vineyards in Ningxia and an annual production capacity of 10 million bottles. It has emerged as one of the region’s leading wineries.

By the end of 2025, the company had contributed more than RMB 60 million (approximately US$8.7 million) in taxes in Qingtongxia, established over 70 branded stores across more than 30 cities in China, and built a distribution network of more than 300 partners.

Internationally, Xige’s wines are now sold in markets including Hong Kong, Australia, Singapore, Japan, Thailand and Canada, making it one of China’s more visible premium wine brands overseas.

Zhang emphasised that Xige was never built purely on the romantic notion of a family estate, but with a broader industry vision.

“From vineyard scale to product planning and market development, we have always operated as a modern wine enterprise,” he said.

“From the perspective of both personal ambition and industry mission, Xige is destined to remain in the spotlight over the long term—so going public is a natural choice.”

As for whether the company will list on mainland China’s A-share market or in Hong Kong, Zhang said the company remains open to both options.

Expansion across five regions

Alongside its IPO plans, Xige is pursuing a strategy to evolve from a single-region winery into a multi-region, multi-category group.

The company has already established an initial presence across five regions: Ningxia, Tibet, Yunnan, Sichuan and Xinjiang. A new project in Ningxia—Guanlan Vineyard—is set to open later this year.

Beyond wine, Xige is also exploring new categories such as whisky and plum wine.

“Our goal is simple: wherever in China great wine can be made, there will be Xige,” Zhang said.

He noted that research conducted in 2023 highlighted the unique potential of high-altitude regions on the Tibetan Plateau, leading to new projects in Zuogong (Tibet), Shangri-La (Yunnan) and Derong (Sichuan).

The Tibet project will include around 5,000 mu of vineyards focused on Cabernet Sauvignon and Syrah blends. The Shangri-La site will span about 1,000 mu, primarily for Cabernet Sauvignon, while the Derong project in Sichuan will cover roughly 2,000 mu, focusing on Pinot Noir and Chardonnay.

Beyond wine, Xige is also exploring new categories, including whisky and plum wine, with a pilot project underway in Yongtai, Fujian.

“These projects will complement Xige’s high-end portfolio and offer consumers a broader selection of wines from diverse Chinese terroirs,” Zhang said.