China Time-Honored Brand Rankings 2026
Snapshot 2026-09-15. Roster + 2025 revenue: Moutai CNY 168.838B first; Lao Feng Xiang 52.823B; Wuliangye 40.529B.
Snapshot 2026-09-15. The pool is MOFCOM’s China Time-Honored Brand roster. The main table keeps listed companies on that roster that already published CY2025 consolidated operating revenue. Kweichow Moutai leads at CNY 168.838 billion. The full baijiu table sits in the Chinese baijiu rankings.
Roster names with 2025 listed revenue
Figures are consolidated operating revenue. Moutai also reports total operating income of CNY 172.054 billion; ranking uses operating revenue. Wuliangye restated 2025 Q1–Q3, so the annual drop is against the restated base. Tong Ren Tang’s line is the listed company, not the larger group on the paper roster. Bands follow CNY billions: 50+ in 夯, 20–50 in 顶级, 8–20 in 人上人, 2–8 in NPC, the rest in 拉完了.
| # | Name | Line | 2025 revenue | YoY |
|---|---|---|---|---|
| 1 | Kweichow Moutai | Baijiu | CNY 1688.38B | −1.21% |
| 2 | Lao Feng Xiang | Jewelry | CNY 528.23B | −6.99% |
| 3 | Wuliangye | Baijiu | CNY 405.29B | −54.55% |
| 4 | Tsingtao | Beer | CNY 324.7B | +1.04% |
| 5 | Tong Ren Tang | TCM | CNY 172.56B | −7.21% |
| 6 | Pien Tze Huang | TCM | CNY 90.01B | −16.56% |
| 7 | Guangzhou Restaurant | Food & dining | CNY 53.82B | +5.04% |
| 8 | Changyu | Wine | CNY 29.89B | −8.81% |
| 9 | Quanjude | Dining | CNY 12.55B | −10.52% |
How this list is ranked
Snapshot 2026-09-15. The pool is MOFCOM’s China Time-Honored Brand roster (file date 1 Dec 2025) and the official query site. The first batch is checked against a Wikisource transcript. The main table keeps listed companies on that roster that already published CY2025 consolidated operating revenue, sorted in yuan. Bands: CNY 50B+ 夯, 20–50B 顶级, 8–20B 人上人, 2–8B NPC, the rest 拉完了. Full baijiu table: Chinese baijiu rankings. Jewelry: jewelry brands. Dining: Chinese restaurants. Tea: Chinese tea brands. Names: docs/glossaries/laozihao-2026-glossary.md.
| Source | Snapshot | Basis | Weight |
|---|---|---|---|
| MOFCOM open data NM012 | 1 Dec 2025 | Roster PDF; the roster is the pool, not the ranking | Pool |
| Laozihao admin site | live Sep 2026 | Official lookup and review notices; unpublished fourth batch stays off | Pool |
| First-batch transcript | 2006 first batch | Confirms Moutai, Wuliangye, Tsingtao, Tong Ren Tang, Pien Tze Huang, Lao Feng Xiang, Guangzhou Restaurant, Changyu, Quanjude | Pool |
| Xinhua on Moutai AR; Moutai IR; East Money reprint | CY 2025 | Operating revenue CNY 168.838B, −1.21%; total operating income CNY 172.054B listed separately | Primary |
| Lao Feng Xiang 2025 AR (bulletin reprint) | CY 2025 | Revenue CNY 52,823,382,917.63, −6.99% | Primary |
| Wuliangye SZSE AR extract | CY 2025 | Revenue CNY 40.529B, −54.55%; Q1–Q3 restated | Primary |
| Tsingtao cninfo extract | CY 2025 | Revenue CNY 32.47B, +1.04% | Primary |
| Tong Ren Tang cninfo extract; Securities Daily | CY 2025 | Listed-co revenue CNY 17.256B, −7.21% | Primary |
| Pien Tze Huang AR reprint; East Money | CY 2025 | Total operating income CNY 9.001B, −16.56% | Primary |
| Guangzhou Restaurant AR reprint | CY 2025 | Revenue CNY 5.382B, +5.04% | Primary |
| Changyu AR reprint; China Daily | CY 2025 | Revenue CNY 2.989B, −8.81% | Primary |
| Quanjude AR reprint; bulletin | CY 2025 | Revenue CNY 1.255B, −10.52% | Primary |
| MOFCOM briefing 20 Nov 2025; People’s Daily reprint | CY 2024 | All roster firms: revenue over CNY 2 tn; profit over CNY 350B; overseas over CNY 50B; 1,450 names | Support |
2024 roster totals
The MOFCOM briefing of 20 November 2025 is a roster-wide sum: 2024 revenue over CNY 2 trillion, profit over CNY 350 billion, overseas revenue over CNY 50 billion, 1,450 names at that briefing. Those totals do not split onto any row above.
Roster names without a 2025 sales line
These first-batch names have no checked 2025 listed-revenue figure. They sit in the unused pool on the board.
| Name | Note |
|---|---|
| Wuyutai | First batch; store count not verified |
| Neiliansheng | First batch; no 2025 listed report |
| Hengyuanxiang | First batch; no 2025 listed report |
| Wong Lo Kat | First-batch Guangzhou Wong Lo Kat Pharma; Baiyunshan group sales stay off |
| Beijing Daoxiangcun | First-batch Beijing Daoxiangcun; not the Suzhou entry |
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China Time-Honored Brands Tier List 2026
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