Tonghua Grape Wine more than doubled first-half sales through online sales of cheaper products

Tonghua Grape Wine said Tuesday that its wine product sales more than doubled in the first half of 2026, driven mainly by e-commerce and lower-priced products rather than broad-based gains across its portfolio.

In an operating update for January through June, the Chinese wine producer said sales of wine products reached 80.56 million yuan, up from 36.55 million yuan a year earlier. That was an increase of 44.01 million yuan, or 120.41%. The figures were disclosed in a company communication and were described as unaudited.

The strongest growth came from direct online sales. Revenue from the company’s electronic direct-sales channel rose to 38.61 million yuan from 8.43 million yuan a year earlier, an increase of 30.18 million yuan, or 358%. Based on the company’s figures, that channel accounted for about 68.6% of the total absolute increase in wine product sales in the first half.

The shift also changed Tonghua’s channel mix. Direct online sales represented 47.9% of wine product revenue in the first half, up from 23.1% a year earlier. That means the digital channel gained 24.9 percentage points in share in a year, showing that much of the company’s recent expansion came from online distribution.

Pricing data in the disclosure showed that the company’s momentum was concentrated in lower-priced products. Wine products with a unit price below 40 yuan rose 244.39% to 54.93 million yuan in the first half. Products priced at 40 yuan or more increased 24.42% to 25.63 million yuan. The lower-priced segment accounted for more than two-thirds of reported wine product sales for the period.

The company did not separately provide second-quarter sales, but a calculation based on the half-year figures indicates that second-quarter wine product sales were about 30.66 million yuan, up roughly 85.6% from the same period last year. That suggests growth slowed from the first quarter, when sales were up about 149.1%, even though the overall first-half increase remained strong.

The disclosure points to a sales rebound that is being led by specific parts of the business. The sharp rise in online revenue and the much faster growth in products priced below 40 yuan indicate that demand strengthened most in digital channels and in more affordable offerings, not evenly across all price tiers.

Tonghua did not provide data on liters sold, realized average selling prices, or sales by wine variety. Without those details, it is not possible to determine from the update alone how much of the revenue increase came from higher volumes, changes in product mix, or pricing within each segment.