# Shandong Jingzhi Wine Industry Shandong Jingzhi Wine Industry is a Corporate Investor based in Anqiu, China. ## Overview - **Organization type:** Corporate Investor - **Headquarters:** Anqiu, China - **Region:** Asia - **Address:** Anqiu, Weifang, Shandong, China - **Founded:** 1948 - **Assets under management:** Undisclosed - **Website:** jingyangchun.com ## Regulatory record - **Reports private funds:** No ## About Shandong Jingzhi Wine Industry was founded in 1948 in Anqiu, Shandong province, and has spent seven decades building a brand around its distinctive sesame-flavored baijiu. The firm operates as a corporate asset owner, with capital generated from liquor production and a diversified set of wholly owned subsidiaries in heating and industrial tourism. Chairman Liu Quanping leads the company, while the executive team holds approximately 46.79% of the equity through Anqiu Manxingjiu Business Partnership, making it a management-controlled entity with a strategic state-linked partner. The firm's investment posture centers on deploying retained earnings from its core baijiu business. Its asset-class mix spans operating businesses — including the Jingzhi Wine Ecological Industrial Park in Weifang — commercial real estate such as the Jingzhi Wine Culture Museum, and a curated collection of vintage baijiu held as alternative assets. In 2021, China Resources Beer acquired a 40% stake, bringing Hou Xiaohai, Chairman of China Resources Beer, onto the board and signaling an intent to scale distribution and brand reach beyond Shandong. The firm maintains its industrial base in Anqiu and leverages the growing cultural cachet of baijiu tourism to drive ancillary revenue. Jingzhi operates with a lean disclosed public profile. The firm's geographic footprint is concentrated in Shandong, with no disclosed international offices or investment partnerships beyond the China Resources relationship. In 2021, China Resources Beer's strategic investment reshaped the governance structure, marking the most significant operational event in recent corporate history. Structurally, Jingzhi differs from generic Chinese baijiu producers in its hybrid posture: it is a management-controlled operating company with a strategic state-owned enterprise partner managing a direct portfolio of industrial tourism and cultural assets. This blurs the line between an operating distiller and an asset owner, as the firm funds museum collections and an industrial park from its own balance sheet, while maintaining a corporate charitable foundation that reinforces its regional brand identity in Shandong. ## Sectors - Consumer & Retail - Real Estate - Industrial ## People - Liu Quanping — Chairman and Legal Representative - Hou Xiaohai — Director ## Questions ### Who controls Shandong Jingzhi Wine Industry? The executive team, led by Chairman Liu Quanping, controls approximately 46.79% of the company through Anqiu Manxingjiu Business Partnership. China Resources Beer Holdings holds a 40% strategic stake acquired in 2021, and Hou Xiaohai, Chairman of China Resources Beer, serves as a director on Jingzhi's board. The remaining equity is held by other minority shareholders. ### How did China Resources Beer's 2021 investment change the firm's structure? China Resources Beer acquired a 40% stake in 2021, making it the second-largest shareholder after the executive team. The deal gave Jingzhi access to China Resources Beer's national distribution network and placed Hou Xiaohai on the board, creating a governance structure split between the founding executive partnership and a state-linked strategic partner (per Reuters, 2021). ### Does Shandong Jingzhi Wine Industry invest outside of its core baijiu operations? Yes. The firm holds a portfolio of assets beyond liquor production, including the Jingzhi Wine Ecological Industrial Park, the Jingzhi Wine Culture Museum, a vintage baijiu collection treated as an alternative asset, and an industrial tourism business. These are funded from operating cash flows rather than external capital commitments. ### What investment stages or structures does the firm participate in? Jingzhi operates as a corporate investor allocating retained earnings to wholly owned subsidiaries and real assets. It does not function as a venture capital or private equity firm and does not make external fund commitments. Its deployment model is internal corporate reinvestment rather than third-party investment management. ### What is the firm's geographic investment focus? The firm's operations and assets are concentrated in Anqiu and the broader Weifang area of Shandong province, China. Its industrial park and cultural museum are both located in Anqiu, and the industrial tourism business is Shandong-focused. No disclosed international offices or cross-border investments exist. ### What is Jingzhi's known posture on co-investments alongside external partners? Jingzhi does not operate as a co-investment partner for external GPs. The 2021 China Resources Beer deal was a strategic equity sale rather than a fund or partnership structure. The firm's capital deployment is internal, and it has no known history of participating in club deals or third-party-managed investment vehicles. ## Related profiles - [Shandong Jincheng Pharmaceutical Group](https://altss.com/profile/shandong-jincheng-pharmaceutical-group) - [Shandong Kelinqi Group](https://altss.com/profile/shandong-kelinqi-group) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/shandong-jingzhi-wine-industry Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology