Kaishan
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Kaishan is a new-style premium baijiu brand founded by CEO Tang Wei, positioning itself as "new Chinese-style pioneer baijiu" targeting younger consumers in their 20s and 30s . The company developed its own proprietary "Jingxiang" (净香) baijiu category through nearly two years of R&D, 68 iterations, and nearly 100 process improvements, becoming the first to establish a new aroma-type industry standard .
Since its official launch in November 2018, Kaishan broke monthly sales of RMB 10 million within its first year and built a product portfolio spanning three series — "Seven Sages" (七贤), "Nine Sons" (九子), and "Eighteen Skills" (十八般) — at 42- and 52-proof levels . The company raised two funding rounds within three months in 2019, with Source Code Capital leading its A+ round and Hillhouse also participating, followed by a RMB 100 million Series B in June 2020 led by Genesis Capital with continued follow-on from Hillhouse and Source Code . Tang framed the 2020 raise as validation of Kaishan's product and marketing innovation even amid pandemic conditions .
elsewhere's corpus does not cover Kaishan beyond mid-2020.
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Coverage
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Source Code Capital portfolio company Kaishan announced the completion of a 100 million RMB Series B funding round, with existing investor Source Code Capital continuing to increase its stake.
Kaishan developed its proprietary "Jingxiang" (pure aroma) baijiu, becoming the first company to successfully establish a new aroma-type industry standard.
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New-Style Premium Baijiu Brand "Kaishan" Closes Two Funding Rounds in Three Months, Led by Source Code Capital in A+ Round
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