What Jiangsu King's Luck Brewery Joint-Stock does

Jiangsu King's Luck Brewery Joint-Stock (今世缘, SSE:603369) is a Chinese producer and seller of distilled spirits, primarily premium baijiu (Chinese liquor), headquartered in Huaiyin, Jiangsu Province. Founded in 1997 and operating as a publicly listed joint-stock company, the firm has built a recognized brand in the premium segment of the Chinese baijiu market, with a particular concentration in the Jiangsu and Yangtze River Delta region. The company employs between 1,001 and 5,000 people and operates its own distribution network to bring product to market through regional dealers and retail channels typical of the Chinese baijiu industry.

The business model is anchored on premium product positioning rather than volume competition. Gross margins of 74-78% across the 2022-2025 period indicate a pricing-led, brand-driven model. Revenue scaled from $7.89B in 2022 to a peak of $11.55B in 2024, a 46% cumulative increase, before contracting to $10.18B in 2025 amid broader Chinese baijiu industry headwinds including macro slowdown, anti-corruption effects, and channel destocking. Net income and EBITDA moved in parallel with revenue, with EBITDA margins compressing from 40.9% (2024) to 36.4% (2025), reflecting both volume softness and margin pressure.

No specific product line disclosures, technology stack details, AI capabilities, partnership data, M&A history, or leadership change records are provided in the source data, limiting deeper visibility into product architecture, go-to-market specifics, and named customers. The available evidence supports a profile of an established, profitable premium baijiu incumbent currently navigating cyclical industry pressure.

Name

Jiangsu King's Luck Brewery Joint-Stock

Website

http://www.jinshiyuan.com.cn

Company type

Private

Founded year

1997

Headcount range

1,001–5,000 employees

Short description

Jiangsu King's Luck Brewery Joint-Stock (今世缘, SSE:603369) is a Chinese producer and seller of premium distilled spirits (baijiu), headquartered in Huaiyin, Jiangsu, serving domestic Chinese consumers through dealer and retail distribution networks since 1997.

Ownership category

akta.pro rank

Product category

Distilled Spirits (Baijiu)

NAICS

Distilleries (312140), Distilleries (31214)

SIC

Beverages (2080)

akta.pro primary industry

Spirits Distilling & Brands (CRADAIAC)

Keywords

• Distilled spirits
• Baijiu production
• Chinese liquor
• Premium alcoholic beverages
• Brewed spirits manufacturing

Headquarters

HQ city

Huaiyin

HQ country

China

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Core offering

Jiangsu King's Luck Brewery Joint-Stock is a Chinese producer and seller of distilled spirits, primarily baijiu (traditional Chinese liquor). The company manufactures and markets alcoholic beverage products under its own brands, operating from its base in Huaiyin, Jiangsu Province, and distributing its products through traditional liquor sales channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Jinshiyuan baijiu product lines A range of distilled baijiu spirits sold under the Jinshiyuan brand, targeted at Chinese consumers and the domestic gift/banquet market. The portfolio spans premium and mid-range price tiers of traditional Chinese sorghum-based liquor.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves4 records

Expansion highlights3 records

Direct peers

• Jiangsu Yanghe Brewery Joint-Stock (洋河股份): Another major Jiangsu-based baijiu producer listed on Shenzhen (002304.SZ). Most directly comparable peer given shared geography, similar mid-to-premium positioning, overlapping distribution, and category focus.
• Anhui Gujing Distillery (古井贡酒): Anhui-based baijiu producer (000596.SZ) with strong regional brand. Highly comparable given similar regional-to-national expansion strategy and premium SKU focus.

Broad incumbents

• Kweichow Moutai (贵州茅台): China's largest and most premium baijiu producer (600519.SS). Comparable as the category leader in Chinese distilled spirits, but operates at much greater scale and national reach.
• Wuliangye Yibin (五粮液): Top-tier Chinese baijiu producer (000858.SZ) and a national benchmark for premium spirits pricing. Comparable as a leading baijiu manufacturer with broad geographic distribution.
• Luzhou Laojiao (泸州老窖): Major strong-aroma baijiu producer listed on Shenzhen (000568.SZ). Directly comparable as a nationally distributed premium baijiu brand with similar margin profile.
• Shanxi Fenjiu (山西汾酒): Leading fen-aroma baijiu producer (600809.SS) and one of the "old eight famous liquors" of China. Comparable as a major publicly listed baijiu brand with national presence.

Regional players

• Hebei Hengshui Laobaigan (衡水老白干): Hebei-based baijiu producer (600559.SH) operating in a distinct region. Comparable as a publicly listed, regionally anchored baijiu manufacturer pursuing national expansion.

Emerging players

• Jiugui Liquor (酒鬼酒): Xiang-aroma baijiu producer (000799.SZ) controlled by Zhonghua. Comparable as a specialty baijiu brand competing in the premium tier with a more concentrated geographic base.

Others

• Beijing Shunxin Agriculture (顺鑫农业): Parent of Niulanshan baijiu (000860.SZ). Comparable as a publicly listed baijiu producer, though at a lower price tier with broader food/agriculture operations.
• Diageo (China baijiu-adjacent): Global spirits major with prior exposure to Sichuan baijiu via the Shuanggou/White Horse joint venture. Comparable as a global distilled-spirits operator benchmarking premium spirits consumer dynamics in China.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Jiangsu King's Luck Brewery Joint-Stock