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Grace Vineyard appoints two new executive directors to boost chain operations and industry integration
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Yiyuan Wine Industry (08146.HK) has appointed Zhong Caimin and Ma Li as executive directors, according to a company announcement. Zhong Caimin, a former founding member of McDonald's China (1991-2003) and ex-director/general manager of Beijing Huangjihuang Catering Management, brings deep experience in chain restaurant operations and dining-wine integration. Ma Li, who held investment roles at Tiansound Holdings, Pacific Securities, Sunac China, COFCO Group, and Legend Holdings, adds expertise in M&A, capital market integration, and post-investment management. Analysts cited in the article suggest Zhong's background aligns with Yiyuan's need to standardize its B-end store network and expand food-and-beverage channels, while Ma will help formalize investment decision-making for producer-side expansion. The winemaker, founded in 1997 by Chen Jinqiang and listed in Hong Kong in 2018, has alternated between profit and loss, with losses recorded in 2020, 2022, 2024, and 2025. In December 2025, 1919 founder Yang Lingjiang acquired 73.63% of Yiyuan, becoming its controlling shareholder. Market speculation that this move paves the way for a 1919 IPO was denied by 1919, which called it a personal investment. In February 2026, Yiyuan's board was restructured. The company has adopted a CBF (Consumer-Business-Producer) development path to transform from a single wine producer into an integrated alcohol platform. As of mid-2026, new businesses had not yet launched and continuing operations remained loss-making.
Source report
Hong Kong-listed winemaker Grace Vineyard (08146.HK) has announced the appointment of Zhong Caimin and Ma Li as executive directors, according to a recent company filing.
New Appointments Bring Diverse Expertise
Zhong Caimin was a founding member of McDonald's China, serving the company from 1991 to 2003. He later held roles as Director and General Manager of Beijing Huang Ji Huang Catering Management Co., Ltd., and as Director and President of Country Style Cooking International Fast Food Chain Co., Ltd.
Ma Li has extensive experience in investment, having worked at companies including Telling Telecommunication Holding Co., Ltd., Pacific Securities, Sunac China, COFCO Group, and Legend Holdings. His expertise spans mergers and acquisitions, capital market resource integration, and post-investment management.
Strategic Fit for Grace Vineyard
Analysts note that Zhong's deep experience in chain restaurant operations and investment—particularly in building standardized store networks and integrating dining with wine—aligns closely with Grace Vineyard's channel-side (B-end) strategy for store standardization and food-and-beverage business expansion.
Ma Li is expected to help Grace Vineyard establish a more structured investment decision-making system, supporting the company's continued expansion on the production side (F-end).
Company Background and Recent Developments
Founded in 1997 by Chen Jinqiang, Grace Vineyard is a Chinese wine producer focused on the mid-to-high-end wine market. The company listed on the Hong Kong Stock Exchange in 2018. Since listing, it has alternated between profit and loss, reporting losses in 2020, 2022, 2024, and 2025.
In December 2025, Yang Lingjiang, founder of 1919, acquired a 73.63% stake in Grace Vineyard, becoming its largest shareholder and actual controller. Market speculation suggested Yang might be paving the way for a 1919 listing, though 1919 emphasized that Yang's investment was a personal matter unrelated to the company.
In February 2026, Grace Vineyard completed a board restructuring and installed a new management team. The first half of this year saw the completion of strategic reorganization and organizational adjustments.
New CBF Development Path
Grace Vineyard has established a CBF (Consumer-end, Channel-end, Production-end) development strategy, aiming to connect consumers, channels, and upstream wineries. The goal is to transform the company from a single wine producer into an integrated beverage platform.
It is worth noting that as of the first half of this year, Grace Vineyard's new business had not yet officially launched, and its continuing operations remained loss-making.
Source
中华网财经Eastern
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Yiyuan Wine appoints McDonald's China co-founder and investment veteran as executive directors