- Business
- Grace Wine Holdings Limited (8146.HK), an investment holding company incorporated in the Cayman Islands in 1997 and headquartered in Quarry Bay, Hong Kong, engages in the production and distribution of wine, spirits, and other alcoholic products primarily in Mainland China, Hong Kong, and internationally; it operates through two segments, Production of Wines and Production of Spirits, offering a diverse portfolio of red wines including higher-end and entry-level series under the Grace Vineyard brand, white wines, sparkling wines, seasonal and special blended red wines, as well as planting and selling wine grapes from Shanxi Grace Vineyard and Ningxia Grace Vineyard, with spirits production at Fujian Dexi Winery; the company serves premium and broad consumer segments through domestic sales and strategic channels. Grace Wine Holdings Limited is a subsidiary of Macmillan Equity Limited and employs 174 staff as of December 2024. In recent developments, the company recorded RMB25.7 million in impairment losses on non-current assets tied to its spirits segment in 2024 amid market challenges; entered into conditional agreements on 5 December 2024 and 21 January 2025 with Chairlady Judy Chan to dispose of its entire distillery business via Pacific Surplus Limited for HK$71.28 million and 30% of its winery business via Epic Wealth Holdings Limited for HK$38.88 million, both approved by independent shareholders on 19 February 2025 to streamline operations and reduce debt, with proposed special dividends of HK7.802 cents and HK4.256 cents per share respectively pending completion; forged partnerships such as with Imaginist Publishing House for the "Bottle of a Year" project and Cathay Pacific for serving Cabernet Franc in Business Class; and reported revenue of RMB34.6 million for 2024, down 46.8% from prior year due to weaker demand, alongside a shift to lower-end wines and gross margin improvement to 76.1%.