Uniwines International Co. Ltd., a leading importer of Argentine wines in China, has officially ceased operations, marking another casualty in the country’s struggling imported wine sector.
Founded in 2008 by Chen Jianchong in Fuzhou, Uniwines also registered in Hong Kong in 2011. Corporate records from Qichacha confirm that the company was officially dissolved on June 28, 2024, with its operational status marked as “inactive” since September 5, 2023. The company’s official website has been repurposed as a sports live-streaming platform, signaling a complete exit from the wine industry. Repeated attempts to reach Chen for comment have been unsuccessful.
A Former Leader in Argentine Wine Distribution
Headquartered in Fujian province, Uniwines was a specialist in Argentine wines, securing exclusive distribution agreements with ten renowned brands. These included Bodega Santa Julia, Luca, Bodega Luigi Bosca, and Zuccardi, as well as Chilean and Australian labels such as Napoleon Abejas and Vanessa. The company was once recognized among “Fujian’s Top 10 High-End Wine and Spirits Distributors” and “China’s Top 50 High-End Wine Distributors.” It was also designated as an official wine supplier for the Argentine Consulate General in Guangzhou.
In 2020, Uniwines was honored as a “National Trusted Wine Enterprise” by the China Alcoholic Drinks Association, highlighting its strong reputation in the industry.
Challenges in a Shrinking Market
Despite its previous success, Uniwines struggled amid a downturn in China’s imported wine market. Argentina remains a minor player in China, ranking 10th among bottled wine exporters to the country. From January to June 2024, China imported just $12.17 million worth of Argentine bottled wine, marking a 28.4% decline year-over-year, according to customs data.
Founder’s Shift from Wine to Uzbekistan
Chen Jianchong, a Chinese Argentine, initially built his wealth by running supermarkets in Argentina before entering the wine trade in China. However, his focus has shifted in recent years. Public social media posts indicate that he has relocated to Uzbekistan, where he established the Uzbekistan Fujian Chamber of Commerce. He is now engaged in business networking and chamber-related events, moving away from the wine industry. Previously, Chen served as vice president of the Argentina Fujian Association and launched the retail wine brand Shounianghui in 2020.
Broader Trend: Industry Outsiders Retreat
Uniwines’ closure is part of a broader trend of non-traditional investors exiting the wine industry as market conditions worsen. Many entrepreneurs entered the sector during China’s wine boom, expecting quick profits. However, as demand cools and competition intensifies, those without deep industry roots are withdrawing.
“A lot of outside capital entered the wine sector during the boom, hoping for rapid gains,” said an industry insider who declined to be named. “Now that the market has tightened, profit margins are slim, and competition is fierce. Many investors without long-term vision are pulling out.”
Similar exits have been observed in both wine importing and winery ownership. Earlier this year, Château Latour-Laguens, the first Bordeaux estate purchased by Chinese investors, was auctioned off for just €150,000 ($160,000), a steep decline from its original RMB 40 million ($6 million) purchase price. The estate was originally acquired in 2010 by Longhai Investment Group, whose core businesses were real estate and construction.
Meanwhile, China’s Haichang Group lost control of nine Bordeaux wineries after French authorities seized them due to fraud-related allegations. Haichang had initially invested in wine as an extension of its oil trading and tourism real estate businesses. Even Kweichow Moutai, China’s most famous baijiu brand, faced challenges with its French acquisition, Château Loudenne. The company encountered operational difficulties, lawsuits, and eventual bankruptcy proceedings, leading to the château’s sale to French entrepreneur Christophe Gouache in 2022.
Compared to vineyard ownership, Uniwines’ role as an importer allowed for greater flexibility and a lighter operational footprint. Unlike capital-heavy ventures tied to physical assets, the company could shut down more easily when market conditions deteriorated.
For entrepreneurs like Chen, shifting focus to more lucrative opportunities may be a strategic move. As a Chinese proverb says, “A small boat turns quickly.” In an increasingly uncertain wine market, adaptability remains key.
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