Bankrupt Chinese ice cream brand Zhong Xue Gao relaunches at half price under new owner
Zhong Xue Gao, the Chinese premium ice cream brand that collapsed under 782 million yuan in debt, has relaunched at the 28th China Ice Cream Expo in Tianjin on September 16, 2026. Under new ownership by Zhong Xue Gao Brand Management (Shanghai) Co., Ltd., controlled by Wang Yaqing and backed by frozen food firm Royal Tiger, the brand now sells three classic flavors at 6.9-7.9 yuan per stick, roughly half its previous retail price. The new CEO is food blogger Chen Dacheng.
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Common ground
- Both agents agree that Zhong Xue Gao's original 66 yuan price point was unsustainable and disconnected from consumer reality.
- Both agree that Chinese consumers are sophisticated and actively rejected the brand through their purchasing decisions.
- Both acknowledge that the brand's valuation collapsed from 4 billion to 21 million yuan, a 99.5% drop.
Points of contention
- The Eastern Agent sees the collapse as a healthy market correction, while the Regional Agent views it as a system failure that hurt vulnerable people like small distributors and factory workers.
- The Eastern Agent argues the influencer CEO is a smart adaptation to modern distribution channels, while the Regional Agent sees it as doubling down on hype instead of substance.
- The Eastern Agent believes the system self-corrects with brutal efficiency, while the Regional Agent insists the correction was forced by consumers' economic survival instincts, not market wisdom.
Blind spots
- Neither agent fully addresses how to prevent similar bubbles from forming in the first place, focusing only on the aftermath.
- Both overlook the role of government regulation or lack thereof in allowing the initial hype to inflate to 4 billion yuan.
- The debate ignores whether the new 7 yuan price point and influencer CEO can actually build long-term brand trust or if it's just another short-term fix.
WorldAttention’s read
The Zhong Xue Gao story shows a brand that got carried away by hype and charged too much for a basic product, leading to a massive crash. The Eastern Agent sees this as proof that China's market punishes overpriced nonsense and forces real change, like cutting prices and using social media to connect with customers. The Regional Agent argues this view ignores the real people who got hurt—like small shop owners and workers—and says the so-called 'correction' was just consumers too broke to buy expensive ice cream, not some smart system at work. Both agree Chinese shoppers are savvy and won't be fooled twice, but they clash on whether the brand's new direction is genuine or just more marketing tricks. The big question neither fully answers is how to stop these bubbles from happening again, not just clean up after they burst.
Reporting timeline
Zhong Xue Gao Ice Cream Brand Revives After Bankruptcy, Slashes Prices by Half
Zhong Xue Gao, the Chinese ice cream brand once notorious for high prices and dubbed an 'ice cream assassin,' has been revived after its original company completed bankruptcy liquidation. In May, 508 intangible assets were auctioned for 21.1 million yuan, a 99.5% drop from the brand's peak valuation of nearly 4 billion yuan. A new operating company, Zhongxuegao Brand Management (Shanghai) Co., Ltd., was established, with original founder Lin Sheng completely exiting. The new CEO is food science blogger Chen Dacheng. The new brand is legally separate from the 782 million yuan debt of the old company. The first batch of products includes three classic flavors priced at 6.9 to 7.9 yuan per stick, roughly half the previous retail price. The price reduction is attributed to cutting marketing costs and channel profits rather than compromising quality. Distribution will expand beyond high-end convenience stores to community shops and group-buying platforms. The author, Xiao Lei, comments that the revival shows luxury built on marketing is unsustainable and that the brand must return to product value and reasonable pricing.
Read sourceBankrupt Chinese ice cream brand Zhong Xue Gao relaunches at half price under new owner
Zhong Xue Gao, the once-popular Chinese premium ice cream brand known as the 'ice cream assassin' for its high prices, is relaunching after bankruptcy. The brand was acquired for 21.1 million yuan by a natural person linked to new operator Zhong Xue Gao Brand Management, with 60% stake held by Wang Yaqing and 40% by Royal Tiger, a frozen food company. The relaunch features three original flavors at 6.9-7.9 yuan, roughly half the previous 14-16 yuan price. The brand collapsed after consumer backlash over high prices and food safety controversies, accumulating 782 million yuan in debt against 186 million yuan in assets. New operator Chen Dacheng leads the relaunch, emphasizing supply chain synergies with Royal Tiger. Analysts including Zhu Danpeng and Song Liang offer cautious optimism, noting the brand's recognition but questioning long-term viability in a shrinking market where 80% of sales are below 6 yuan. The first products are expected in Q4 2026.
Read sourceRevived Zhong Xue Gao Returns at Lower Prices After Bankruptcy, New Team Reveals Strategy
Chinese premium ice cream brand Zhong Xue Gao, declared bankrupt in August 2025, has been revived under new ownership after its trademarks were auctioned for 21.1 million yuan in May 2026. The new team, led by CEO Chen Dacheng and financially backed by Royal Tiger (长沙虎家食品科技), relaunched three classic flavors at 6.9-7.9 yuan per 78g stick at the China Ice Cream Expo on September 16, 2026. This represents a sharp price cut from the original 14-20 yuan retail price, achieved by compressing channel margins rather than reducing factory prices. The new team emphasizes independent operations, no debt inheritance, and a lean organization under 100 employees. The article analyzes the brand's 2018-2025 rise and fall, attributing its collapse to excessive channel margins, aggressive sales targets, and over-reliance on marketing hype. Key challenges remain: the 90-day shelf life limits supermarket distribution, and channel trust must be rebuilt after years of price instability. The relaunch comes as the ice cream market shrinks 12.93% year-on-year in the 2026 summer season, with consumers shifting toward either ultra-cheap basics or novel premium offerings.
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Zhong Xue Gao Ice Cream Brand Returns After Bankruptcy, New CEO Is Influencer
Zhong Xue Gao, the Chinese ice cream brand once known as the 'ice cream assassin' for its high prices, has made a comeback after undergoing bankruptcy liquidation and asset auctions. At the 28th China Ice Cream Industry Expo, the brand unveiled three classic products with significantly reduced prices, now ranging from 6.9 to 7.9 yuan per stick, down from the previous 13-20 yuan range. The new CEO, Chen Dacheng, is a food review blogger with one million followers, chosen to leverage his professional persona and reduce brand communication costs. Shareholder Changsha Hujia Food Technology Co., Ltd., parent company of Royal Little Tiger, holds a 40% stake. Analysts from iiMedia Research and food industry analyst Zhu Danpeng note that the ice cream market is under pressure with consumers becoming more rational, and competition in the 6-8 yuan middle ground is intense. The brand's future success depends on balancing quality, price, and consumer preferences.
Read sourceZhong Xue Gao Relaunches at Tianjin Fair with Halved Prices, New Owner Revealed
Zhong Xue Gao, the once-popular Chinese ice cream brand that collapsed under debt, made its first public appearance since its asset sale at the 28th China Ice Cream and Frozen Food Industry Expo in Tianjin on September 16, 2026. The brand, now under new ownership, displayed three classic flavors at significantly reduced prices: 6.9 yuan for light milk and 7.9 yuan for velvet cocoa and half-half, roughly half its previous retail prices. The new operating entity is Zhong Xue Gao Brand Management (Shanghai) Co., Ltd., controlled by Wang Yaqing, with a shareholder being Changsha Hujia Food Technology Co., Ltd., the parent company of frozen food brand Royal Tiger. Analysts cited in the report suggest that Royal Tiger's mature supply chain in frozen foods could help Zhong Xue Gao address its previous production and cost-control weaknesses. The first batch of products is expected to launch in the fourth quarter of 2026, initially using a commissioned production model. The brand entered bankruptcy proceedings in July 2025 with assets of only 186 million yuan against debts of 782 million yuan. Its 508 intangible assets, including 492 trademarks, were transferred to the buyer in September 2026.