Jingzhi

What Jingzhi does

Shandong Jingzhi Liquor Co., Ltd. (山东景芝酒业股份有限公司) is a privately held Chinese baijiu producer headquartered in Anqiu, Shandong, tracing its origins to a 1948 state-owned factory consolidated from 72 local workshops. The company is the originator of the 芝麻香 (sesame-aroma) baijiu category — one of only two baijiu aroma types independently developed in the People's Republic — and operates four primary brands: 一品景芝·芝香 (premium sesame-aroma), 景阳春 (strong-aroma), 景芝年份 (aged-series), and 景芝白乾 (heritage classic, first-batch China Time-honored Brand). Manufacturing runs through a 2,000-mu Eco-Brewing Industrial Park with 13 brewing workshops and Shandong's largest group of solid-state fermentation pits (8,340 pits), with reported capacity of 20,000 tons of base liquor and 60,000 tons of commercial baijiu annually. Production is governed by the proprietary "一长一低六高" sesame-aroma craft and a "九环溯源" nine-loop traceability quality system, with traditional brewing techniques inscribed on the 2020 National Intangible Cultural Heritage list.

The business model combines licensed baijiu production and sales across four brand houses with industrial-tourism revenue from two national AAAA sites (Jiu Zhi Cheng and Qi Lu Jiu Di) and diversified verticals including heat-and-power cogeneration, integrated packaging, and protein feed. Distribution historically relied on 420 dealers and 32,000+ retail outlets spanning all 86 administrative regions of Shandong; the 2018 Alibaba LST partnership added digital channel capabilities, and the August 2021 strategic cooperation with Huarun Liquor (CR Beer) gave Jingzhi access to an approximately 6 million retail-terminal national network, materially expanding its addressable market.

Customer segments span mass-market baijiu consumers in Shandong, high-end government and diplomatic receptions (most visibly the 2018 Shanghai Cooperation Organisation Qingdao Summit and 2019 Ministry of Foreign Affairs Shandong Global Promotion in the Blue Hall), industrial-tourism visitors, and a B2B distributor/retailer base receiving digital-marketing and financing-enablement support. The company employs approximately 3,600 people, operates a wholly-owned public-welfare foundation (Shandong Jingzhi Public Welfare Foundation, established 2018), and has stated a 5-year-end group revenue target of 10 billion RMB (~US$1.4B) with 8 billion RMB from baijiu. No direct revenue figure is publicly disclosed.

Name

Jingzhi

Legal name

山东景芝酒业股份有限公司

Website

https://jingzhigufen.com

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shandong Jingzhi Liquor is a privately-held Chinese baijiu producer founded in 1948 in Anqiu, Shandong. It manufactures sesame-aroma, strong-aroma, and classic white liquors across the 一品景芝, 景阳春, 景芝年份, and 景芝白乾 brands, distributing through 420 dealers and 32,000-plus Shandong retail outlets plus national channels via Huarun Liquor.

Ownership category

akta.pro rank

Product category

Baijiu / Chinese White Liquor

NAICS

Distilleries (312140), Beverage Manufacturing (3121)

SIC

Beverages (2080), Wholesale-Beer, Wine & Distilled Alcoholic Beverages (5180)

akta.pro primary industry

Sake, Soju & Other Asian Alcoholic Beverages Producers & Brands (CRADAIAF)

Keywords

• Chinese baijiu liquor
• Sesame aroma baijiu
• Strong aroma baijiu
• Distilled spirits production
• Traditional white liquor

Headquarters

HQ city

Anqiu

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. 白酒生产与销售: 景芝酒业的主营业务，包括一品景芝（芝麻香型高端白酒）、景阳春（浓香型）、景芝年份、景芝白乾等多个系列产品的生产与销售。
2. 酒文化旅游: 酒之城与齐鲁酒地两个国家AAAA级旅游景区的旅游收入，包括工业旅游、博物馆参观、文化体验等。
3. 多元化产业: 热电、综艺包装、蛋白饲料等多元化业务板块的收入。

Go-to-market motion4 records

Distribution channels5 records

Marketing channels9 records

Core offering

Shandong Jingzhi Liquor Co., Ltd. is a Chinese baijiu (white liquor) producer founded in 1948, manufacturing and selling multiple baijiu series including the sesame-aroma Yipin Jingzhi·Zhixiang, strong-aroma Jingyang Chun, Jingzhi year-aged, and Jingzhi Baiqian lines. The company operates a modern ecological brewing industrial park with 20,000 tons of base liquor capacity and 60,000 tons of commercial baijiu capacity, distributing across 86 administrative regions in Shandong province through 420 distributors and over 32,000 retail terminals.

Differentiator

Problem solved

Functional benefit

Products and services

• Yipin Jingzhi·Zhixiang (一品景芝·芝香) Yipin Jingzhi·Zhixiang is Jingzhi's flagship sesame-aroma premium baijiu line, blending the techniques of sauce-aroma, strong-aroma, and light-aroma styles using the proprietary 'one long, one low, six high' brewing process. Target customers are high-end government/business banquet consumers and gift buyers. Available in 8-year, 10-year, 15-year, and 20-year aged variants.
• Jingyang Chun (景阳春) Jingyang Chun is a strong-aroma (浓香型) baijiu line developed in 1971, recognized as a Chinese Historical & Cultural Famous Liquor. Available in standard and aged variants (8-year, 12-year) at 32-52% ABV in 500ml packaging. Targeted at mass consumer and business banquet segments.
• Jingzhi Year-Aged (景芝年份)
• Jingzhi Baiqian (景芝白乾) Jingzhi Baiqian is a classic Chinese sorghum Daqu baijiu at 52% ABV in 500ml packaging (12-bottle case). First exhibited at the 1915 Panama-Pacific International Exposition as a representative Shandong baijiu, designated as a 'Chinese Time-honored Brand' and awarded as one of China's Eight Mass-Market Famous Baijiu.

Quantifiable outcome

• 2019年一季度销售收入同比增长109%，其中景阳春同比增长96%，一品景芝同比增长325%
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• 华润酒业coreStrategic or Co-development Partner · 26 August 20212021年8月26日，华润酒业与景芝酒业在潍坊举行合作签约仪式，标志着双方合作进入实质性发展阶段。华润具有成熟的管理经验、健全的治理结构和良好内控制度，拥有覆盖面大、成熟度高的营销渠道（近600万个零售终端）。景芝酒业具备较强的规模实力、高端品质和品类优势，此次合作将共同推动景芝快速增长发展。
• 阿里巴巴零售通coreTechnology or Integration · 29 June 20182018年6月29日，景芝酒业与阿里巴巴零售通在齐鲁酒地签订战略合作协议。双方致力于通过互联网手段，升级传统线下零售分销渠道，改善渠道下沉成本高、线下营销透传效率低、分销商经营状况不理想、终端价格不稳定等问题，为景芝提供大数据支持，实现精准营销。
• 上海合作组织minorGTM or Marketing Partner · 25 May 2018景芝酒业正式成为上海合作组织青岛峰会赞助企业，一品景芝·芝香作为官方指定用酒在峰会上款待各国嘉宾，提升了品牌的国际公信力。
• 山东航空minorGTM or Marketing Partner · 13 August 2016景芝酒业联合山东省旅游发展委、山东航空推出"好客山东·景芝号"主题彩绘飞机，开创山东酒业先河。自2016年启航以来，两架飞机共飞行1892.3万公里，承运旅客164.82万人次，成为对外宣传山东形象的新亮点。
• 中国食品发酵工业研究院minorStrategic or Co-development Partner景芝酒业与中国食品发酵工业研究院、荷兰瓦赫宁根大学、中国医学科学院北京协和医学院、国家酒类品质与安全国际联合研究中心共同完成"一品景芝·芝香基于肠道微生态解析的白酒健康研究"项目，达到国际先进水平。
• 江南大学minorStrategic or Co-development Partner景芝酒业与江南大学联合进行芝香白酒生产技术集成研究，采用全二维气相色谱飞行时间质谱研究，对中国芝香白酒一品景芝芝香特征风味组分进行解析。
• 荷兰瓦赫宁根大学minorStrategic or Co-development Partner景芝酒业与荷兰瓦赫宁根大学合作进行芝香白酒健康研究，共同完成"一品景芝·芝香基于肠道微生态解析的白酒健康研究"项目。

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Anhui Gujing Distillery (古井贡酒): Anhui-based regional baijiu leader with strong-aroma portfolio and national expansion ambitions. Comparable in scale (multi-thousand employees), brand heritage, and strategic positioning as a second-tier national challenger to Wuliangye/Moutai.
• Xifeng Liquor (西凤酒): Shaanxi-based traditional-aroma baijiu with deep heritage and regional dominance, similarly pursuing national expansion. Comparable in cultural-heritage brand positioning and multi-aroma product structure.
• Langjiu (郎酒): Sichuan sauce-aroma baijiu producer now controlled by Huarun Liquor — directly comparable in aroma-category positioning, premiumization strategy, and Huarun-channel dependency. Sits inside the same partner ecosystem as Jingzhi.
• Shede (舍得酒业): Sichuan strong-aroma baijiu producer (formerly Tuopai), also controlled by Huarun Liquor. Comparable scale and structure to Jingzhi as a regional brand trying to scale through Huarun's national distribution platform.
• Jiangsu King's Luck Brewery (今世缘 / Jinshiyuan): Regional Chinese baijiu leader (Jiangsu) with similar profile: province-strong brand, multi-aroma portfolio, ambition to scale nationally, and — like Jingzhi — received a strategic investment from Huarun Liquor. Already a 34–49% equity holder in Jingzhi.

Broad incumbents

• Shanxi Fenjiu (山西汾酒): Light-aroma baijiu leader with successful national premiumization trajectory (Qingxiang series). Relevant comparable for Jingzhi's ambition to scale a regional-aroma style into a national premium category.
• Kweichow Moutai (贵州茅台): China's largest and most valuable baijiu producer (sauce-aroma); sets the national pricing benchmark and consumer mindshare that all premium baijiu — including Jingzhi — must position relative to.
• Wuliangye (五粮液): Dominant Chinese strong-aroma baijiu producer; the national benchmark for premium pricing and distribution scale. Provides the competitive ceiling that Jingzhi's premium 'Yipin Jingzhi' line must navigate against.
• Yanghe Brewery (洋河股份): Jiangsu-based national baijiu leader with strong-aroma flagship products; directly comparable to Jingzhi's 'Jingyangchun' strong-aroma line in product positioning and target consumer segment.
• Luzhou Laojiao (泸州老窖): One of China's oldest strong-aroma baijiu producers; competes with Jingzhi across both premium and mid-tier price brackets and serves as a model for heritage-brand premiumization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jingzhi