Dynasty Fine Wines Announces 2025 Annual Results
Financial Highlights (Audited)
(HKD Thousand) | Year ended | |
2025 | 2024 | |
Revenue | 170,011 | 271,372 |
Gross Profit | 53,382 | 104,720 |
Profit Attributable to Owners of the Company | 13,688 | 33,440 |
Basic Earnings per Share (HK cents) | 0.97 | 2.37 |
HONG KONG, Mar 26, 2026 - (ACN Newswire) - Dynasty Fine Wines Group Limited (“Dynasty” or “the Group”) (Stock Code: 00828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2025 (“the Year”).
In 2025, due to the impact of macroeconomy as well as weak demand in wine consumer market in the PRC, the Group’s sales of medium to high-end products significantly declined, resulting in a 37% year-on-year decrease in revenue to HK$170.0 million. In addition, due to the decline in sales revenue and gross margin, as well as an increase in loss allowances for trade receivables owing to extended repayment from certain distributors, the profit attributable to owners of the Company decreased by 59% year-on-year to approximately HK$13.7 million, although such decrease in profit was already partly offset by a net gain on compensatory surrender recognised during the year. Earnings per share of the Company was HK0.97 cents per Share.
With strengthened marketing effort for dry white in coastal region and the launch of new white wine and sparkling wine products, sales of white wine products served as the Group’s primary revenue contributor. Sales of red and white wines products accounted for approximately 39% and 54% of the revenue respectively for the year (2024: approximately 41% and 56% respectively). The gross margin of red wine products and white wine products in 2025 were 25% and 35% respectively (2024: 36% and 41% respectively). The overall gross profit margin decreased to 31% in 2025 (2024: 39%), mainly due to change in product mix with more products with lower prices and margin in response to market dynamics and needs during the year.
The Group has been actively pursuing innovation, embracing the “5+4+N” product strategy, with “N” standing for developing various customised products and continuously creating new products to meet the diverse needs of different Chinese consumer groups. During the year, the Group launched a new gift set product, i.e. Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Yi Si Year of Snake, integrating with the Chinese zodiac culture and the leading rise of Chinese-style fashionable products, by presenting the zodiac culture in a youthful visual language to attract potential consumers. In addition, based on its existing high-quality products, the Group continues to introduce new products and promote product upgrades. The Group participated in the 112th China Food & Drinks Fair in March 2025, introducing new products such as Tianyang Tea-flavoured wine series, Dynasty Baifu VSOP brandy, etc., to further improve its product matrix and provide consumers with diverse consumption choices. Breaking through from the constraints of traditional wine, this tea-flavoured wine series, with its core concept of “tea and wine fusion,” has captured market attention with its unique craftsmanship. During the China Food & Drinks Fair, the Group also held wine-tasting events, where the new wines from Dynasty Ningxia Winery won industry praise for their unique flavor and exquisite craftsmanship. In the second half of the year, the Group also introduced new products “Hi” tea-flavoured wine series in response to the market need, which are very suitable for ready-to-drink scenarios among young consumers.
In addition to enriching the product matrix, the Group has been closely cooperating with distributors, pressing ahead with its marketing campaign, accelerating the innovation of consumption scenarios, and enhancing and strengthening the wine cultural experience. The Group held its national tour tasting and business events, new products launch ceremonies at various exhibitions and wine fairs, as well as promotion activities for the 20th anniversary of listing in Hong Kong, during which the Group actively promoted its latest product mix that covered all product lines.
During the year, two joint venture companies approved by the Group were established in February 2025, for the manufacturing and sales of yellow wine and Chenpi wine and trading of sauce-flavour baijiu products nationwide in the PRC respectively. For the yellow wine project, installation and testing of production equipment of a manufacturing plant with a tank capacity of 3,000 tonnes of yellow wine and special yellow wine – Chenpi wine in Jiangsu is expected to be completed in the second half of 2026. Upon completion of the project, the Group will be able to produce special yellow wine – Dongtai Chenpi Wine which allows the Group to effectively expand product categories, seize development opportunities in the Chinese yellow wine industry. The project expansion aims to effectively implement Dynasty’s strategic plan, further improving the industrial layout, expanding category tracks, tapping into industry potential, creating new performance growth points, and realising Dynasty Group’s transformation into a full category, full industry-chain enterprise. For the sauce-flavour baijiu segment, Dynasty sauce-flavour baijiu products, namely ‘Han’, ‘Tang’, ‘Song’ and ‘Ming’ have been newly launched in the core-market in Tianjin and Shanghai and will be further strategically promoted to other regions in 2026. The sauce-flavour baijiu products satisfy the needs of customer groups with different spending habits and contributing to the Group’s business. In the future, the continuous development and expansion of the sauce-flavour baijiu industry and the improvement of the level of customer groups will inevitably and effectively drive the increase in the sales scale of Dynasty wine and related products, thereby enhancing our industry influence and brand awareness.
Regarding online sales, the e-commerce team of the Group comprehensively operates online stores itself on the traditional e-commerce platforms, such as JD.com, Tmall and Pinduoduo for product sales, as well as comprehensive innovation on its brand, product categories, and business systems, procedures and models via interest-based e-commerce platforms, including Rednote, Kuai and TikTok. The Group continues investing resources in a timely manner for improvement of the online sales channels and optimisation of online stores interface so as to capture the change of customer consumption behaviour in the PRC. The Group jointly develops exclusive products with leading e-commerce platforms, and promote AI livestreaming models in various channels to increase brand exposure and livestreaming sales, adopts big data analysis to accurately understand consumer demand, and injects strong momentum into the continued expansion of market scale. To establish an online brand matrix, the Group selected and authorised new online distributors during the year. The Group believes that the online platforms not only serve as business-to-customer trading platforms between the Group and the consumers, but also additional marketing and promotion channels for the brand, which can enhance the overall business potential of the Group.
During the year, the Group had boasted brilliant results in major wine appraisal competitions. Among the numerous awards, “Dynasty Jin. Y Brandy XO barrel-aged 12 years” has won the Silver Award, at the 2025 International Wine & Spirit Competition (“IWSC”). The competition is considered the international standard for wine and spirits quality. Dynasty Baifu VSOP Brandy, Golden Dynasty Marselan Dry Red Wine, as well as Tianyang Tea Wine series are also awarded at the “2024 Qingzhuo Awards” in respective categories by China Alcoholic Beverages Association. “Dynasty Mengyuan White wine” has also won the Grand Gold Medal at the France International Wine Awards (“FIWA”) China region, Spring 2025 for its excellent quality. In addition, “Dynasty Inherit series – Dry Red Wine” has garnered the Gold Award at the same competition. These wines stood out from other entries for their elegant aroma, smooth body and round taste, and won the awards at the competitions, showing the charm and strengths of Dynasty wines to the country and the world. Dynasty has won the Silver Medal in the Sparkling Wine/China category, the Silver Medal in the Dry Wine/China category, and the Bronze Medal in the Medium/China category for its Dynasty Tianyang Winery Jasmine Sparkling Wine, Dynasty Inherit Series – Dry Red Wine, and Dynasty Inherit Series – Semi Dry White Wine, respectively, at the 2025 Cathay Global Wine & Spirits Awards Asia (“GWSAA”) (formerly known as the Cathay Hong Kong International Wine & Spirit Competition (“HKIWSC”)). This marks the 15th consecutive year that Dynasty products have won awards at the event, demonstrating industry-wide recognition of Dynasty’s exceptional winemaking skill and quality. In addition, “Dynasty Pinyue VSOP brandy” also won the Gold Medal in the brandy category of 2025 China Fine Wine Challenge.
Mr. Wan Shoupeng, Chairman of Dynasty, concluded, “Looking ahead to 2026, the Group will continue to focus on market and consumer demand, reinvent consumption scenarios and promote product quality. At the same time, the Group will continue to innovate marketing strategies to stimulate brand vitality, further expand the market share of Dynasty’s products, strengthen Dynasty’s brand image as a representative of domestic wines, and set a benchmark for the Chinese wine industry, with the aim of bringing Dynasty’s superior wines to more consumers in the PRC. The Group will continue to uphold quality, seize the development trend of low-alcohol and younger consumer markets, and proactively develop new marketing prospects through innovation in products categories and consumption scenarios.”
About Dynasty Fine Wines Group Limited
Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable “Dynasty” brand. Dynasty is the first Sino-foreign joint venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its current major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.
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