# Hengchang
Latest news and articles about Hengchang
Total: 2 articles found
From Expo King to Tax Debtor: How Deng Hong’s Sauce‑Aroma Baijiu Empire Unravelled
Deng Hong’s Hengchang distillery has been hit with RMB 132 million in tax arrears, exposing the failure of an aggressive, real‑estate style expansion into premium sauce‑aroma baijiu. Flooded by “debt wine,” collapsing retail prices and heavy fixed investments, Hengchang’s plight exemplifies a wider sector correction that is forcing mid‑tier brands to confront inventory, leverage and channel risks.
Exhibition Mogul’s Baijiu Gamble Unravels as 132m‑Yuan Tax Bill Exposes Fragile Empire
Hengchang, the baijiu venture of exhibition magnate Deng Hong, has been hit with 132 million yuan in tax arrears amid collapsing prices, channel breakdowns and excess inventory. The case exposes larger vulnerabilities in China’s premium sauce‑flavour liquor boom, where heavy marketing, property ties and leverage masked weak consumer fundamentals.