Yantai Changyu Pioneer Wine

What Yantai Changyu Pioneer Wine does

Yantai Changyu Pioneer Wine (张裕葡萄酒, stock code 000869.SZ) is China's oldest and largest wine producer, founded in 1892 and headquartered in Yantai, Shandong. The company operates 13 wineries across China, France, Spain, Chile, and Australia, supported by a 25万亩 (16,667 hectare) grape base and a 150,000-ton annual production capacity in its Yantai R&D and Production Center. Its portfolio spans five pillars: premium wine (Long Yu / 龙谕 from Ningxia's Helan Mountain East Foothills, crowned 'Global Wine King' at a 2025 12-country blind tasting), brandy (Koya / 可雅, China's leading brandy entrant that led the country's new brandy national standard), state-banquet wine (Aifeibao / 爱斐堡, served 50+ times for visiting foreign heads of state), mass-market heritage (Xiebaina / 解百纳, 680M+ cumulative bottles sold, 2025 Decanter 'Best in Show' winner), and international acquired brands (Kilikanoon, Moshi, Marqu\u00e9s del Trienta, Lason, Mauhour). Recent innovation products (Changershaomao white wine, Duomingli BBQ wine, Bear Commander juice wine) target younger consumers through Douyin and Xiaohongshu with celebrity ambassadors Lin Yun and Yu Shi.

The business model is primarily one-time unit sales across wine, brandy, and ice wine categories, with pricing ranging from entry-level (under RMB 100) to ultra-premium (Koya Rose Gold XXO at 2,888 yuan/bottle). Distribution is multi-channel: traditional wholesalers (~200 staff managing distributors in 2026, down from ~1,000), e-commerce flagship stores on Tmall, JD.com, Pinduoduo, and Douyin, new retail partnerships with 16 systems covering 16,110 stores (including Sam's Club, Costco, and Wanda Hotels), and premium HORECA channels (Michelin, Berry Bros. & Rudd, KaDeWe, Burj Al Arab) for international distribution. Customer segments span ultra-premium/elite consumers, mass-premium mid-market, Gen Z/young millennials, and food-pairing/scenario-specific consumers. Ancillary revenue comes from wine tourism (7 AAAA-rated attractions including the Changyu Wine Culture Museum) and branded cultural experiences. Domestic gross margin is reportedly above 60%, with online sales approximately 18% of domestic business.

The underlying technology platform combines traditional viticulture with proprietary R&D: 800+ indigenous yeast strains developed over 10+ years, unique 'tilted horizontal dragon trunk' planting geometry, NETAFIM fertigation drip irrigation, gravity-assisted winemaking (30% energy savings), lightweight bottle manufacturing (95%+ of SKUs), and a recently launched AI-powered wine trading experience at Changersha Castle. With over 50% domestic market share, RMB 120 billion total assets, and a debt ratio below 12%, Changyu is the dominant survivor in a Chinese wine market that has contracted 93% from its 2011 peak.

Name

Yantai Changyu Pioneer Wine

Legal name

张裕葡萄酒

Website

https://changyu.com.cn

Company type

Public

Founded year

1892

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Yantai Changyu Pioneer Wine (张裕葡萄酒, 000869.SZ) is China's oldest wine producer (founded 1892) operating 13 wineries across China, France, Spain, Chile, and Australia with 50%+ domestic market share, producing premium wine, brandy, and ice wine for mass-market, premium, state-banquet, and Gen Z consumer segments across 50+ countries.

Ownership category

akta.pro rank

Product category

Wine and Brandy Production

NAICS

Wineries (312130), Grape Vineyards (111332), Wine and Distilled Alcoholic Beverage Merchant Wholesalers (42482), Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers (4248)

SIC

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

akta.pro primary industry

Wine & Sparkling Wine Wineries & Brands (CRADAIAB)

akta.pro secondary industries

Wine Production & Winemaking (AFAFAAAB), Wineries & Vineyards (Tasting Rooms) (THAFALAE), Fine Wine & Luxury Spirits Retail (CRANABAE)

Keywords

• Grape wine production
• Brandy manufacturing
• Wine tourism
• Viticulture operations
• Premium wine brands

Headquarters

HQ city

Chifu

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Traditional Wine Sales (Winery & Retail): Traditional grape wine and brandy products sold through distributors, retail, and direct channels. Includes Long Yu (premium), Koya (brandy), Aifeibao (state banquet), and Changyu Xiebaina (mass premium). Domestic gross margin ~60%+. Online sales ~18% of domestic business.
2. Brandy (Bai Lan Di) Sales: Koya as premium brandy with leading Chinese brandy standard; 'Nanren Sishi' (Men 40) as accessible entry-level brandy; new products under RMB 100 for younger consumers. Brandy recognized as second growth driver alongside wine.
3. Innovation Product Lines: New consumer-facing products including Longweimao (white wine), Xiongweimao (juice wine), Duomingli BBQ wine, and Xiaotao (sparkling wine) sold primarily online and targeting younger consumers. Longweimao exceeded RMB 90 million in sales since August 2025.
4. Wine Tourism & Cultural Experiences: 7 AAA-rated tourist attractions including Changyu Wine Culture Museum, Liulin Valley Scenic Area, and 1892 Old Factory Park generating tourism revenue. Also includes Changyu quality life retail stores and themed street experiences.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels9 records

Core offering

Yantai Changyu Pioneer Wine manufactures, distributes, and sells grape wines and brandy across ultra-premium, premium, and mass-market tiers through 13 global wineries in China, France, Spain, Chile, and Australia. The company operates a vertically integrated supply chain from grape cultivation across 25万亩 (16,667 hectares) of vineyards through fermentation, aging, and bottling, supported by a 150,000-ton annual production center. Its portfolio spans flagship brands Long Yu (high-end wine), Koya (premium brandy), Aifeibao/Noble Dragon (state banquet wine), Changyu Cabernet/Jiebaina (mass-market flagship with 680M+ bottles sold), and emerging youth brands like Longweimao, Bear Commander, and Xiaotao.

Product overview

Yantai Changyu Pioneer Wine (张裕葡萄酒) operates as a diversified portfolio of wine and brandy products spanning multiple sub-brands, domestically-produced estates, and internationally-acquired wineries. The core portfolio is organized around five main pillars: (1) High-end wine brands — 龙谕 (Long Yu, the premium flagship crowned 'Global Wine King' in 2025) and 爱斐堡 (Noble Dragon/Aifeibao, national banquet wine served 50+ times); (2) Brandy — 可雅 (KOYA, 'China's No.1 Brandy Winery' with a leading role in China's new brandy standard, featuring 6-year VSOP through 30-year XO and XXO tiers); (3) The historic flagship mass-market wine brand — 张裕解百纳 (Changyu Cabernet, created 1931, cumulative 680M+ bottles sold globally, Decanter Best in Show 2025 winner); (4) International acquired estates — including Australia's 歌浓 (Kilikanoon), Chile's 魔狮 (Lion), Spain's 爱欧公爵 (Marqués del Trienta), France's 拉颂 (Lason), 蜜合花 (Mauhour), and 苔思藤 (Tae Siton); and (5) Young/entry-positioned sub-brands — 长尾猫 (white wine, 2025 launch), 熊司令 (fruit juice wine, 2026 launch), 小萄 (micro-sparkling low-alcohol, 2024 launch), 多名利 (multi-scenario including BBQ wine), 黄金冰谷 (ice wine), 雷司令 (Riesling), 味美思 (vermouth), and 金奖白兰地 (Gold Medal Brandy). Changyu also operates seven AAAA-level industrial tourism attractions including the Wine Culture Museum, Liulin Valley, and Old Factory Park.

Differentiator

Problem solved

Functional benefit

Brands

• 龙谕 (Longyu): 高端葡萄酒品牌，宁夏贺兰山东麓产区，2025年被评为"全球酒王之王"
• 可雅 (Koya)
• 爱斐堡 (Noble Dragon)
• 张裕解百纳
• 歌浓 (Kilikanoon)

Products and services

• Long Yu (龙谕) Changyu's flagship high-end wine sub-brand produced from the Ningxia Helan Mountain East Foothills appellation with 17 years of vineyard selection. Range includes Dragon 12 Cabernet Sauvignon dry red (crowned 'Global Wine King of Kings' at the 2025 12-Nation Wine King blind tasting), Dragon 9, Dragon 8, single-vineyard Cabernet Sauvignon, and Cabernet Sauvignon dry white.
• Koya (可雅) Brandy Changyu's premier brandy sub-brand and China's No.1 Brandy Winery, producing China's first brandy in 1914. Range includes Koya 15-year XO (Global XO Blind Tasting Champion, 93.8 points), Koya Rose Gold XXO at 2,888 yuan/bottle, Dragon Year zodiac XXO, and Koya Man Sanshi 43° brandy. Koya led the development of China's new national brandy standard with the 'two no-additions' requirement.
• Noble Dragon / Aifeibao (爱斐堡) High-end winery brand with national banquet prestige, served at over 50 Chinese state banquets for visiting foreign heads of state including Macron, Putin, and Trump. Range includes Noble Dragon A6 Cabernet Sauvignon dry red, A6 Chardonnay dry white, A8 and A9 tiers, plus a collectible series. Located in Yantai as a national AAAA-level tourist attraction.
• Changyu Cabernet / Jiebaina (张裕解百纳) Changyu's most iconic and historic mass-market wine brand, created in 1931. N-series (N118 to N398) and S-series (S198, S298) cover dry red wines across price points; the Cabernet Master Series adds PLUS, PRO, MASTER, SUPER tiers; MAX Series offers 1L format. Cumulative global sales exceed 680 million bottles; N188 won Decanter 'Best in Show' in 2025.
• Gong Nong / Kilikanoon (歌浓) Acquired Kilikanoon Winery from Australia's Clare Valley producing Shiraz and Riesling wines aged in French oak barrels for 12 months. Product line spans six tiers (6K through 10K). Attunga 1865 Shiraz vineyard is recognized in 'The Australian Ark' as one of Australia's oldest vineyards.
• Changyu Castle / Kaster (张裕卡斯特) Yantai-located winery brand producing Cabernet Gernischt and Chardonnay wines including G2 Cabernet Gernischt dry red, G2 Chardonnay dry white, Special Selection Cabernet Gernischt, and the seasonal 'Flowering Wealth' reserve tier. The winery is a national AAAA-level tourist attraction.
• Dingluote (丁洛特) China's first collectible-grade winery positioned as a premium collectible wine estate. Products include the Flagship Edition dry red in 1.5L format and the standard dry red in 750mL, with a dedicated aging cellar for collector-grade wines.
• Rinas Castle / Changersha Castle (瑞那 / 长歌酒庄) Shaanxi Xi'an-located winery producing Syrah/Shiraz wines with a proprietary R-style blending system, including R2, R388 (Qingya), R588 (Orange Bronze), and R888 (Platinum) tiers. Rebranded to Changersha Castle in 2025 and houses the world's first AI Wine Trading Center. Won Grand Gold Medal at Berlin Wine Competition 2026.
• Baron Baross (巴保男爵) Xinjiang-located winery named after the first chief winemaker, producing X7 Master Reserve dry red, X6 dry red, X5 dry red, X6 dry white, and the standard Xinjiang Baron Baross dry red, crafted from Xinjiang's distinctive terroir.
• Lion / MOSHI (魔狮) Chilean winery acquired by Changyu, producing Carmenère, Cabernet Sauvignon, and Chardonnay wines. Products include Ao Ma dry red, Mo Shi Wang 'Zaduo Si' and 'Dunait', Gran Reserva Carmenère, Reserve Carmenère, and Sauvignon Blanc premium white. Endorsed by the Chilean Ambassador to China.
• Duke Aiou / Marqués del Trienta (爱欧公爵) Spanish Rioja winery acquired by Changyu producing Rioja Reserva, Aitana #1 Crianza, La Liga commemorative edition, Liweiluo family wines, and the 'World's Eye' collection spanning dry red and dry white wines from Rioja appellation.
• Lasong / Lason (拉颂)

Quantifiable outcome

• Water savings: 80,000 tons/year
• +5 more outcomes

Named customers8 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

AI capability1 record

Feature9 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Wanda Hotel Management (万达酒管)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Changyu entered deep partnership with Wanda Hotel Management to provide exclusive wine supply to 250 Wanda hotel stores nationwide, integrating Changyu products into Wanda's hospitality ecosystem.
• ASC Fine WinescoreChannel Partner/ Reseller/ Distributor · 1 September 2025Long Yu partnered with ASC for distribution of premium Long Yu wines to Michelin-starred and Black Pearl restaurant channels globally, leveraging ASC's established fine wine distribution network.
• Half Pub (哈夫酒馆)minorGTM or Marketing Partner · 1 September 2025Koya partnered with Half Pub to launch 'Guirui Shandu' (格瑞山度) bai lan di brand targeting young consumers with Oriental palate positioning, launching in bar/nightclub channels.
• New Xi Yueer (新玺悦尔)minorGTM or Marketing Partner · 1 September 2025Koya partnered with New Xi Yueer to launch 'Dengfeng Jue' (嶝峰爵) new Chinese-style bai lan di specifically designed for bar and nightclub consumption occasions.
• JD.com Ochama (京东Ochama)coreChannel Partner/ Reseller/ Distributor · 1 March 2025Changyu signed strategic partnership with JD.com Ochama for Netherlands market, enabling Changyu products to enter local consumer shopping lists through Ochama's European retail network.
• NETAFIM (耐特菲姆)coreTechnology or IntegrationChangyu introduced NETAFIM's world-leading fertigation drip irrigation system for precise timed and quantified water/nutrient delivery in vineyards. The system achieves 50% water savings, 99% labor reduction, and 30% fertilizer savings.
• Ries Positioning (里斯定位)coreImplementation/ SI/ Consulting PartnerThree-year strategic consulting partnership with Ries Positioning (one of China's top 3 positioning firms) for brand strategy and bai lan di category positioning. First deliverable focused on Koya brandy repositioning.
• Liulin Valley Rugby Club (柳林河谷橄榄球俱乐部)minorGTM or Marketing PartnerFirst Zhangyu Liulin Valley Vineyard Marathon event combining sports with wine culture marketing, promoting Duomingli BBQ wine at the sports venue's 'second venue' consumption experience.
• Shenzhen Commercial Association (深商总会)minorStrategic or Co-development PartnerShenzhen Commercial Association organized 19 leading Shenzhen enterprises to visit Changyu for three-day immersive brand experience, exploring cross-industry collaboration opportunities.
• 智利驻华大使馆 / 智利驻成都领事馆minorGTM or Marketing PartnerMosher Pisco from Chile won endorsement from the Chilean Ambassador to China and became the official event wine for the Chilean Consulate in Chengdu, representing diplomatic-level recognition.

Scale indicators15 records

Recent moves6 records

Expansion highlights24 records

Direct peers

• Tonghua Wine (通化葡萄酒): Historic Chinese wine producer founded 1937, based in Jilin. Competes with Changyu in the domestic Chinese wine segment, particularly in lower-tier and regional markets, with overlapping consumer base and channel strategy.
• Great Wall Wine (COFCO Wines & Spirits): China's other major domestic wine producer, owned by state-owned COFCO. Directly competes with Changyu across mass-market, premium, and ultra-premium Chinese wine segments, with similar domestic distribution depth and a competing portfolio of chateau brands.
• Dynasty Wine (王朝酒业): Hong Kong-listed Chinese wine producer with joint-venture heritage (Remy Martin involvement historically). Directly comparable to Changyu as a domestic Chinese wine company competing in similar price tiers and channels, though smaller in scale.

Others

• ASC Fine Wines: China's leading premium wine importer and distributor, partnered with Changyu for Long Yu distribution to Michelin and Black Pearl channels. Comparable as a China-based premium wine platform operating in overlapping channels, but as a partner/distributor rather than direct producer competitor.

Broad incumbents

• LVMH (Moët Hennessy Wines & Spirits): Owns Moët & Chandon, Dom Pérignon, Hennessy, and Château d'Yquem. Represents the global ultra-premium benchmark that Long Yu is competing against in fine-dining and gifting channels, with significantly stronger cellar-age inventory and heritage.
• Accolade Wines: Global wine company owning Hardys, St Hallett, and Banrock Station. Comparable to Changyu as a multi-region wine producer with brands at accessible price points competing in similar retail and HORECA channels.
• Treasury Wine Estates: Largest pure-play wine company globally, owning Penfolds, Wolf Blass, Beringer, and 19 Crimes. Comparable to Changyu as a multi-region wine producer with premium aspirations, competing in the same international fine-wine channels where Long Yu is placed.
• Castel Group: French wine conglomerate and one of the largest wine producers globally, with operations in China and Africa. Comparable to Changyu as a multi-region, multi-category wine producer with significant international distribution.
• E. & J. Gallo Winery: World's largest family-owned wine company, with brands including Barefoot, Apothic, and Carlo Rossi. Comparable to Changyu's mass-market portfolio (Jiebaina) in terms of scale and broad consumer reach across price tiers.
• Pernod Ricard: Global wine and spirits giant owning Jacob's Creek, Brancott Estate, Mumm Champagne, and Martell. Competes with Changyu's Long Yu in the international premium wine category and represents the global incumbent benchmark for multi-brand wine portfolio management.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/yantai-changyu-pioneer-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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 Yantai Changyu Pioneer Wine