Wine9: 2012 Profits in the RMB Tens of Millions

CCIDnet, 12/18/12

Shenzhen-based Xinpinzhuo Trading, operator of online wine retail website Wine9, reported today that it had received second-round funding from ChinaEquity Group and Co-Win Venture Capital in July 2012. Wine9 CEO Zhang Huijun said that the funds were used mainly to consolidate the company's overseas upstream supply chain and for advance funding preparations for 2013 sales. "Actually," Zhang said, "Wine9 isn't short of money. We used only a small part of the first-round funds we received last year, and are already self-sufficient. Wine9 met its goal of breaking even in 2011, and we expect our total 2012 sales to show 200% growth over 2011 sales, with profits in the tens of millions."

Editor's Note: For more background on this topic, please see "Online Wine B2C Wine9 Seeks Second-Round Funding" MD 4/28/12 issue.

Keywords: ChinaEquity Group Internet funding B2C second-round Wine9 Co-Win Zhang Huijun profit VC alcohol e-commerce Xinpinzhuo

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