Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Yanghe Restructuring State-Asset Loss Case: Former Chairman Yang Tingdong and Two Others Sentenced for Embezzlement
In September 2022, former Yanghe Co. chairmen Yang Tingdong and Zhang Yubai and former finance head Cong Xuenian were taken for investigation by the Jiangsu Provincial Commission for Discipline Inspection and Supervision, over state-asset losses caused by obtaining equity through the management shareholding platform “Blue Alliance” during Yanghe’s 2000s restructuring. On December 30, 2025, a first-instance judgment found the three guilty of embezzlement: Yang Tingdong was sentenced to five years and fined 500,000 yuan, while Zhang Yubai and Cong Xuenian each received three years and six months and a 300,000 yuan fine. The judgment found that about 17.59% of Yanghe equity held by Blue Alliance was illegal gain and must be returned; the case had a profound impact on Yanghe’s ownership structure and governance.
2012
Two Successive Chairmen Cash Out Over 100 Million Yuan
In March 2012, as CCTV Finance reported capital fleeing baijiu stocks, two successive Yanghe chairmen reduced their holdings and cashed out over 100 million yuan, prompting questions about investors’ confidence in management. The move drew market attention.