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Grace Vineyard pivots to baijiu under new ownership, abandoning wine focus
- Hong Kong-listed Grace Vineyard, China's first boutique winery to list publicly in 2018, has acquired a stake in Wang Defang Baijiu, a sauce-aroma baijiu producer based in Maotai Town, Guizhou province.
- The investment follows Yang Lingjiang, founder of alcohol retailer 1919 Group, acquiring a 73.63% controlling stake in Grace Vineyard in December 2025 for approximately HK$156 million.
- Grace Vineyard established six subsidiaries in Chengdu in March 2025 and plans to expand beyond wine into baijiu, beer, imported spirits and low-alcohol beverages as part of a diversified alcohol business strategy.
- Industry observers question the timing and brand fit, warning that leveraging Grace Vineyard's wine reputation to market baijiu risks damaging its premium positioning as the sauce-aroma baijiu market enters a competitive contraction phase.
- Wang Defang traces its origins to the late Qing Dynasty and is regarded as one of the founding brands of Ronghe Distillery, which helped establish Maotai Town as China's sauce-aroma baijiu centre.