According to 49 Fang's official WeChat account, the company recently held its 10th anniversary celebration, inviting prominent figures from various industries to attend. The guest list included renowned dancer and 49 Fang brand ambassador Yang Liping, famous actor Zheng Xiaoning, and Jin Haifeng, a national outstanding social science popularization expert and professor of Chinese studies. Industry representatives included Li Baofang, president of the Guizhou Baijiu Industry Development Promotion Association, Song Shuyu, chairman of the China Alcoholic Drinks Association, and Hou Xiaohai, recently retired chairman of China Resources Beer.
According to the official WeChat account, former China Resources Beer chairman Hou Xiaohai shared profound third-party insights: Innovation has always been the greatest driving force for the development of China's liquor industry. Over the past decade, 49 Fang has carved out its own path. Starting with 49 founding members, the company transformed users into wine enthusiasts and wine enthusiasts into wine merchants, creating a unique business model that opened new territories, gathered like-minded people, and built a shared long-term business venture. The company aspires to become a century-old brand, a 10-billion-yuan enterprise, and a star in the baijiu sector - an ideal and business model rarely seen in Chinese commercial history.
Public information shows that on June 27, China Resources Beer announced that Chairman Hou Xiaohai resigned from his positions as executive director and board chairman due to his intention to devote more time to personal arrangements. He also stepped down from his roles as chairman of the Finance Committee and member of the Executive Committee and Share Option Administrative Committee under the board of directors, effective from the end of the board meeting that day. Hou Xiaohai confirmed that there were no disagreements with the board and no other matters regarding his tenure that required disclosure.
Following Hou Xiaohai's resignation, the chairman position remains temporarily vacant pending the appointment of a suitable successor. Company executive director and president Zhao Chunwu will temporarily assume the chairman's duties and responsibilities during the transition period.
49 Fang is an emerging brand that rose during the "baijiu fever." Founded by former Lenovo executive Zhang Chuanzong, the company has maintained remarkable growth over its eight-plus years of operation. From 2021 to 2023, it consecutively appeared on the Hurun Global Unicorn List for three years, becoming the only baijiu brand on the list.
Zhang Chuanzong harbors ambitious goals. He has publicly stated that 49 Fang's specialty stores will reach 5,000 locations by 2025, with sales revenue exceeding 10 billion yuan, and the company will complete its public listing.
However, industry opinions on 49 Fang remain divided. Some view it as a "phenomenal enterprise" in the baijiu industry and a representative of internet new retail companies. Others question the company's business model, operational data, and strategic objectives, considering its production capacity and performance targets overly aggressive.