Who owns Tuopai?
Tuopai is owned by Shede Spirits (China, SSE: 600702).[1]
This ownership is reported in official statements but has not yet been matched to a regulatory filing.
Evidence: 舍得酒业股份有限公司 2025 年年度报告 (Shede Spirits — 2025 Annual Report), Shede Spirits Co., Ltd, 21 March 2026. Last checked .
Key facts
- Current owner
- Shede Spirits Co., Ltd. reported
- Owner HQ
- 🇨🇳 China, Shehong
- Origin
- 🇨🇳 China, Shehong
- Category
- Beverages › Spirits › Baijiu
- Parent ticker
- SSE: 600702
- Last verified
- · 1 sources
About Tuopai
Tuopai (沱牌) is the mass-market baijiu of Shede Spirits, which says more than five billion bottles of it have been sold. Tuopai Qujiu, the main product of the Shehong distillery the company grew from, was named a China famous liquor in October 1988. The range covers Tuopai Qujiu, Tuopai Tequ and the clear-bottle Tuopai Teji T68, and the company wants it to be the best-value mass-market famous liquor. Its ordinary-grade liquor, led by Tuopai Teji T68 and Tuopai, rose 5.8% in 2025 to RMB 733 million.
Ownership timeline of Tuopai
- Current owner Shede Spirits [1] reported
Where Tuopai sits in Shede Spirits
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Open the full Shede Spirits ownership tree →
See the full Shede Spirits brand portfolio (2) →
Other brands owned by Shede Spirits
Shede Spirits controls 2 brands on Brandtree, 2 of them in beverages.
Also in beverages
Other brands in baijiu, and who owns them
The 18 brands in baijiu on Brandtree belong to 7 owners. The largest is Luzhou Laojiao, with 5; Shede Spirits has 2.
| Brand | Owner | Owner based in |
|---|---|---|
| Century-old Luzhou Laojiao Jiaoling | Luzhou Laojiao | 🇨🇳 China |
| Gujing Gongjiu | Gujing | 🇨🇳 China |
| Wuliang Tequ | Wuliangye | 🇨🇳 China |
| Fenjiu | Shanxi Fenjiu | 🇨🇳 China |
| Shuanggou | Yanghe | 🇨🇳 China |
| Jinsha | CR Beer | 🇨🇳 China |
| Luzhou Laojiao Erqu | Luzhou Laojiao | 🇨🇳 China |
| Luzhou Laojiao Tequ | Luzhou Laojiao | 🇨🇳 China |
About the owner: Shede Spirits
Shede Spirits is a publicly listed company headquartered in Shehong, China. Brandtree records 2 brands under its control, and it is listed as SSE: 600702.
Shede Spirits is a strong-aroma baijiu maker at Tuopai in Shehong, Sichuan, which grew out of the Shehong Tuopai Qujiu distillery and first sold shares to the public in 1996 under the Tuopai name; it is listed in Shanghai. Sichuan Tuopai Shede Group holds 30.26% of it, and Shanghai Yuyuan holds 70% of that group, which makes Fosun's Guo Guangchang the actual controller. Its two core brands are Shede and Tuopai. Revenue fell 17.5% to RMB 4.42 billion in 2025.
Shede Spirits: full profile, brands and acquisition history →
🇨🇳 Tuopai and other Chinese brands
Brandtree records a controlling owner for 339 brands that began in China. 39 of them (12%) are now controlled by a company headquartered in another country; Tuopai is not one of them.
- 17.5° — Nongfu Spring 🇨🇳
- AFIP — Changyu 🇨🇳
- Augerta — Tsingtao Brewery 🇨🇳
- Brave the World — CR Beer 🇨🇳
- Century-old Luzhou Laojiao Jiaoling — Luzhou Laojiao 🇨🇳
- Fenjiu — Shanxi Fenjiu 🇨🇳
Frequently asked questions
Who is the parent company of Tuopai?
The parent company of Tuopai is Shede Spirits, a publicly listed company headquartered in China.
Is Tuopai Chinese?
Yes. Tuopai originated in China and its owner, Shede Spirits, is also headquartered in China.
Is Tuopai still owned by Shede Spirits?
Yes. As of 25 October 2026, Tuopai is still owned by Shede Spirits. The ownership record was last checked against primary sources on that date.
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] 舍得酒业股份有限公司 2025 年年度报告 (Shede Spirits — 2025 Annual Report) — Shede Spirits Co., Ltd., Annual report, published 21 March 2026; retrieved 25 October 2026.
Report a correction Opens a pre-filled GitHub issue. See our corrections policy.