When @FauxPasposted a pic of a bottle of Shaoxing containing caramel, I reached out to an friend who is a Chinese wine writer for clarification. She passed my query on to someone more deeply immersed in Shaoxing technicalities. We await his opinion.
In the meantime, my friend contacted me today to tell me to look out for a parcel she has sent me. I'm told this is the contents. Apparently, she has a few bottles lying around her office.
A nice 20-year old Shaoxing. Looking forward to tasting.