Weak demand and falling sales of mid- to high-end wines weigh on earnings as China’s largest wine producer, resulting in its worst performance yet on record.
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Yantai
Changyu, China’s largest wine producer, is selling its French Cognac estate and related property for 4.8 million euros (about US$5.2 million) as part of ongoing efforts to offload underperforming assets and shore up its finances. Read More
Changyu Pioneer Wine Company, China’s largest wine producer, reported a nearly 40% decline in net profit for the first half of 2024, reflecting the ongoing challenges in the country’s wine market. Read More
China's biggest domestic winery is expanding its stake in Australian winery Kilikanoon as the country is expected to lift crippling punitive tariffs on Australian wine as early as April next year. Read More
Castel, France’s biggest wine producer, is accused of “falsifying balance sheet” and “tax fraud” related to its operations in China in two separate investigations in France, after the key person who’s credited for setting up its China operations turned against the French wine giant. Read More
When China's wine market was hit by low consumption and imports during the pandemic in 2021, the country's biggest winery Changyu had its best year yet by revising its sales strategy and promoting its domestic premium brands. Read More
China's top market regulator has revoked organic certification for five Chinese wineries involving 11 different wines after finding they have used banned fungicide. Read More
Bulk wine, the two words that can send shudders down a wine connoisseur's spine and spoil a Burgundian Vigneron's appetite, is finding a new life in China, and growing at a speed that can marvel Bordelais even in a challenging climate like last year. Read More