NEWS
SECOND LARGEST BAIJIU MAKER WULIANGYE’S CHAIRMAN DETAINED BY AUTHORITIES
By Staff Reporter
3-3-2026
Source: Wuliangye Yibin
Wuliangye Yibin Co., the second largest Chinese baijiu maker, recently received notice that its Chair Zeng Congqin had been detained by authorities and a case had been opened by Sichuan Province’s Yibin city, the company said in a weekend filing to the Shenzhen stock exchange.
The company didn’t give further detail or specify if any reasons had been given about the case or detention. Shares were down 1 percent in early trading on Monday.
All other board members and senior executives are performing their duties as normal, according to the filing. Wuliangye said it didn’t expect major impact on production or operations from the matter.
The incident comes as Wuliangye, second only to Kweichow Mautai in China, saw sales growth slow over the past two years as demand for its fiery liquor weakened amid economic uncertainty and a crackdown on lavish banquets for government officials and businessmen.
The company has been promoting a milder version of its strong liquor in hopes of appealing to a younger generation of lighter drinkers.
Wuliangye has previously grappled with a setback involving a top executive. Last October, former chairman Li Shuguang was expelled from China’s Communist Party over what local disciplinary authorities called serious violations of discipline and law.
(the writer can be contacted at: info@thewinechronicle.com)
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