wen | 《zhongguoqiyejia》dengshuanglin

编辑 | 姚赟

60suidecaichongxinyouduoleyizhongxinshenfen：faguoputaoyuanlaoban。

jupengboshebaodao，jinri，caichongxinyuqitarenhehuoshougoulebogendideyipianputaoyuan，erzheilidehehuorenbaokuolanchiziben（blue pool capital）deshouxizhixingguanoliver weisberg。caichongxingourudeputaoyuan，weiyubogendidehexinchanqu，gaichanqushouduoweiyiwanfuhaoqinglai，lvmhjituandechuangshiren、shechipindahengbonade·aernuoyijibuyige、dasuo、peiluoduo、pinuoheluosichaierdedengjiazudouzaicitouzileputaoyuan。

2019nian，caichongxinxiexiaalizhantoubuzhongdanhou，kaishiweiaihaomaidan。zuoweiyigechaojilanqiumi，caichongxinfenpiciquanzigoudelanwangdui，jiaoyizongjinechaoguo30yimeiyuan，chengweinbaqiuduizhongdiyiweihuarenlaoban。rutongdangnianshougoulanwang，caichongxincicitouziputaoyuan，huoxuyeshichuyuaihao。

jubaodao，caichongxinshiyimingkuangredeputaojiushouzangjia，ciqian，caichongxinheweisibogetongshimali-anre·geerbaniefusiji2019nianjilupiandianying《putaojiuzhihun》dezhizuoren；2020nian，tahaicengxiangreqingdelanwangduiqiumizengsongledaiyoupinpaibiaozhideputaojiu。

buguo，vcchushendecaichongxin，yixiangshanzhangbaaihaoyunyingchengshouyifanbeideshengyi。jinnian6yue，kehejiazuyi58yimeiyuan（yuehe421yiyuanrenminbi）guzhishougoubulukelinlanwangduimugongsibse global 15%deguquan，caichongxinluodai6.88yimeiyuan（yuehe50yiyuanrenminbi）。gaibitouziwanchenghou，bulukelinlanwangduiheniuyueziyourenduidezongguzhijiangdaponbalishijilu，chengweibeimeizhiyetiyulishishangzuigaodeguzhizhiyi。

caichongxincicishougoudeputaoyuandichanyeyunzangzhejiazhizengzhangdejihui。gaidikuaizuoluozaibogendidehexindiqu，suiranbuzhijieshengchanhongjiu，danxiangguanshujuxianshi，guoquyinian，bogendijinqiudeputaoyuanpingjunjiageyueshengle11%，dadaomeigongqing98.38wanouyuan。

01 蔡崇信走上马云的路

zaicaichongxinzhiqian，mayunyecengduitouzijiuzhuangchanshengjidaxingqu。

liunianqian，mayuncengzaidawosiluntanshangtouluzijituixiuhoudeguihuazhiyi：“wokenenghuiquzaojiu。”shijishang，zaozai2016nian，mayunbianzaifaguozhixiahongjiuchanye，taxianshimaixialeboerduodesaersijiuzhuang（chateau de sours vineyard），budaobannian，youmaixialeboerduoyouandegeruijiuzhuanghebeibudepeileijiuzhuang。

bishi，zhongguoxianqileyizhenputaojiuzhuanggoumaichao，huangxiaoming、shiyuzhu、liujialingdengzhimingrenshiyijiyixieqiyerumaotai、hebeixindagangtiedeng，douqianqufaguoshougoujiuzhuang。

jutongji，dangshizhongguomaijiazaifaguotouzijiuzhuangchuangxiajilu，boerduomeinianyueyou300duojiajiuzhuanggongkaichushou，zhongguomaijiazhanbichaoguo150jia。

errujin，zheixiejiuzhuangquechengle“tangshoushanyu”。jujiuyejiabaodao，150jiazhongzifaguojiuzhuangli，yiyou1/3beiyiqi，1/3chuyudaishouzhuangtai。yejiushishuo，dangnianneidifuhaohemingxingmenzhaduigoumaidejiuzhuang，zhuanqiandeshaozhiyoushao，juedabufendouzazaileshouli。

zhongzifaguojiuzhuangdamianjijizhonghuangfei，chulechannengguosheng、shichanggongxushihengdengyinsu，haiyouhuibaozhouqitaizhang、jingyingguanlibushandengyuanyin。julejie，jiuzhuangzheimenshengyibianxianzhouqitongchangxuyao10nianyishang，cainengchanshengzhengxiangyingshou，erjiuzhuangdeguanliyeduizhuanyehuayaoqiujigao，houqiyunyingdetourubigoumaijiuzhuangdeqianhaiyaoduo。

jinjinian，yijingxianshaoyouhuarenfuhaogoumaijiuzhuangdexiaoxile。

guranshouzangputaojiushicaichongxindeaihaozhiyi，danshangyeyanguangjiqiduladecaichongxin，jihuconglaibuzuo“peibendeshengyi”。23nianqian，caichongxindiyicijiandaochuangyechuqidemayun，dangshialibabaliangongsidoushangweizhuce，20duogerenzaihupanhuayuandeyijianminjulidadipubangong，dancaichongxinjihudangjibianjueding，cidiaoxianggangdegaoxingongzuo，jiaruali。

shishizhengmingcaichongxinduduile。

caichongxinhuafeichao30yimeiyuanshougoulanwang，yeyidububeiwaijiekanhao。lanwangduixing“cai”hou，zongshilichenggongchaleyidian，zaisangesaijideshijianli，shizhongwufachongjizongguanjun。danlanwangdeshangyejiazhihepinpaiyingxiangliqueyilupansheng，yuanyinzaiyunbalianmengweilaikenengyudianshizhuanbojigoudacheng11niangaoda760yimeiyuandezhuanbohetong。caichongxinzailanwangguzhishuizhangchuangaozhishichushoulanwangbufenguquan，wuyikeyihuodefenghouhuibao。

caichongxincicijiarucaituantouziputaoyuan，hedangnianmayundelujingbingbuwanquanyizhi。julejie，caichongxinsuozaidecaituanzaibencitouzidefaguoputaoyuan，weiyuyeqiudiquderefulei-xiangbeidan（gevrey-chambertin），beiyuweibogendidexiangxielishedadao。gaidiqudexuduoputaojiudouhuodelezuigaode“tejiyuan”chenghao，meipingshoujiakedashubaimeiyuanshenzhigenggao。

caichongxinzheicisuiranmailebogendihexindiqudeputaoyuandichan，dangaichanyequebushengchanzijideputaojiu。tudidengjishujuxianshi，2021niangaidiquyouyikuaidikuaiyiyue1800wanouyuandejiageshouchu；erguoquyinian，bogendijinqiudeputaoyuanpingjunjiageyueshengle11%，dadaomeigongqing98.38wanouyuan。

biqiputaojiu，yexuzheikuaihuangjindipicaishicaichongxinzhenzhengganxingqude。

02 过半投向医疗

beiwushuvc、pecongyezhefengweiouxiangdecaichongxin，chualibabaxianrendongshihuizhuxideshenfenwai，tatongguolanchizibensuokuozhangdeyixilietouzibantuyegewaishouyeneiguanzhu。

ju《pengboyiwanfuwengzhishu》xianshi，caichongxinzuixindejingzichanyuewei69yimeiyuan（yuewei490yiyuanrenminbi），bufenlaizitazaialibabachiyoude1.4%gufen，ertongguolanchiziben，caichongxinyijiangqicaifuduoyuanhua。

2015nian，caichongxinhemayunlianshouchenglilejiazubangongshilanchiziben，zongbuweiyuzhongguoxianggang，mudeshiguanlialibabaipo suodailaidejuecaifu。lanchizibentouziyuduoyuanhuadezichanleibie，zhuyaoshishangshigongsi、simuguquan、duichongjijindeng，touxiangyiliaojiankang、jinrong、tiyu、yuanyuzhou、qukuailiandengduogelingyu，2022niandezichanguimoyichao500yimeiyuan（yue3500yiyuanrenminbi）。

chuletouziduozhiduichongjijin，zaisimuguquantouzilingyu，lanchizibenzai2016nian～2018nianjian，jieliantouchule10bi，baokuohualingyiyao、tengshengboyao、chuangxinyaoyanfagongsifogpharma、zulindianshangrent the runwaydengduogexiangmu，qizhongguobantouxiangleyiliaojiankang。

lanchizibenbufentouzixiangmu

数据来源：企查查及网络公开资料 制表：邓双琳

erzuixinyibimuzi，huoxuyugaolelanchizibenjiexialaidefangxiang——jupengboshebaodao，lanchizibenqixiazuixinyizhijijinyichouji5yimeiyuan（yueherenminbi35yiyuan），gaijijinbeihouzhichizhezhengshicaichongxin。

qubieyuciqianjiazubangongshideyunyingmoshi，zuixinjijinjiangdaibiaozhelanchizibenxinzhangqizhanlve：jianlixiangwaibukehukaifangdezichanguanliyewu，fangxiangzejujiaoyutouziduichongjijinhesimuxindaijijin。

ciwai，jinniannianchuxiaoxi，alibabaxianrendongshizhangcaichongxintongguoqijiazutouzipingtailanchizibenguanligongsi，goumaile1.5yimeiyuandealigupiao。

8yue28ri，aliwanchengxianggangshuangzhongzhuyaoshangshihou，juxiangganglianjiaosuopilu，jiezhi8yue28ri，alibabalianhechuangshiren、zhuxicaichongxinchiyougongsigupiao2.7675yigu，zhanbiyuewei1.44%。erjuciqianpilu，jiezhi5yue20ri，caichongxinchiyoualibabagupiao2.7530yigu。jin4geyue，caichongxinyouzengchilealibabagupiaoyue145wangu。

参考资料：

《近1/3被遗弃、1/3待售，中资法国酒庄变身“烫手山芋”？》，酒业家

《蔡崇信发起，蓝池资本募集35亿》，投资界