Xige Estate, a Chinese winery, has completed its first round of funding, totaling more than CNY 100 million. This round of funding was co-invested in by Challenjers and the Ningxia State-owned Assets Investment Holding Group. This is a very rare instance of Chinese boutique wine companies providing substantial funding.
Xige will use this funding to expand its market, as well as the size and quality of its premium Vineyard.
Aside from that, Xige sees this round of funding as a great opportunity for brand promotion, and the company hopes it will aid in the Structure Upgrading of Chinese boutique wine. In addition, Xige will use this fund to educate more domestic customers about Chinese boutique wine by expanding their market reach.
Xige Estate is located in Ningxia on East Helan Mountain and owns over 30,000 mu of vineyards. The company covers the entire winemaking process, from planting to brewing, and has a large sales channel. Since its inception in 2017, Xige's premium wines have won hundreds of international awards. Every year, top-line sales have more than doubled. Their revenue for 2021 has surpassed CNY 200 million. Despite the fact that the epidemic resurgence has put pressure on economic growth, Xige has achieved this sales growth in comparison to its peers: Xige's sales in Q1 2022 have exceeded FY 2021 total year sales.
Yanzhi Zhang, the owner of Xige Winery, claims that they have completed the journey that took some Napa Valley wineries 50 years, and that they will demonstrate that China has the ability to build a world-class winery.