Group 1 - The core point of the article is that Dongpeng Beverage announced the approval of multiple proposals, including the formulation and modification of the company's internal governance system at its second extraordinary general meeting of shareholders in 2025 [2] Group 2 - The announcement indicates a focus on improving corporate governance, which may enhance operational efficiency and transparency within the company [2] - The approval of these proposals reflects the company's commitment to adhering to regulatory requirements and best practices in corporate governance [2] - This move could potentially strengthen investor confidence and support the company's long-term growth strategy [2]

Core Viewpoint - Dongpeng Beverage continues to thrive amid market fluctuations, with projected revenue for 2025 expected to reach between 20.76 billion to 21.12 billion yuan, representing a year-on-year growth of 31.07% to 33.34% [2] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of between 4.34 billion to 4.59 billion yuan for 2025, reflecting a year-on-year increase of 30.46% to 37.97% [2] - In the first half of 2025, Dongpeng's sales revenue in the North China region reached 1.708 billion yuan, a significant year-on-year growth of 73.03%, outpacing the national average growth rate [2] Group 2: Marketing Strategies - Dongpeng is actively promoting its flagship product, Dongpeng Special Drink, through the "One Yuan Enjoyment" campaign in Beijing, which has significantly boosted sales in physical stores [3] - The campaign allows customers to purchase Dongpeng products and check for winning caps, enabling them to exchange for another drink at a low cost, thus increasing foot traffic and sales [3] Group 3: Advertising and Promotion Expenses - Dongpeng's advertising and promotion expenses have increased over the years, with figures of 636.5 million yuan in 2022, 863.7 million yuan in 2023, and 1.3727 billion yuan in 2025 (up to Q3), representing 7.5%, 7.7%, and 8.2% of total revenue respectively [4] Group 4: Market Position and Competition - In the energy drink market in Beijing, Dongpeng Special Drink ranks second, following Red Bull, with a market share of 40.1% in 2024, significantly higher than Red Bull's 22% [11] - The company has successfully expanded its consumer base from traditional segments to include blue-collar workers, reflecting a broader market appeal [9] Group 5: Operational Efficiency - Dongpeng's cost leadership strategy has resulted in lower manufacturing costs, with unit manufacturing costs at 216 yuan per ton compared to competitors like Yangyuan Beverage and Huanlejia, which are significantly higher [8] - The company's shift towards larger packaging has also contributed to reduced water and energy consumption in production, enhancing operational efficiency [9] Group 6: Future Growth and Expansion - Dongpeng plans to expand its product categories, with its electrolyte water brand, "Bushuila," seeing a year-on-year sales increase of 83.81% to 1.354 billion yuan in Q3 2025 [12] - The company is also focusing on overseas market expansion, with plans to establish joint ventures and explore investment opportunities in companies with established production capabilities [12]

并继续进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 1.现金管理受托方：招商银行股份有限公司； 2.本次现金管理金额：合计 7,000.00 万元； 3.现金管理产品类型：结构性存款； 证券代码：605499 证券简称：东鹏饮料 公告编号：2026-005 东鹏饮料（集团）股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回 4.现金管理期限：70 天； 5.履行的审议程序：东鹏饮料（集团）股份有限公司（以下简称"公司"） 于 2025 年 3 月 7 日召开第三届董事会第十三次会议和第三届监事会第十二次会 议及 2025 年 4 月 2 日召开 2024 年年度股东会，分别审议通过了《关于 2025 年 度使用闲置募集资金进行现金管理的议案》，公司股东会拟授权公司及其子公司 在保证日常经营资金需求和资金安全的前提下，使用不超过人民币 1 亿元的范围 内择机购买原则为安全性高、低风险、流动性好的理财产品、不影响募集资金投 资计划正常进行，使用期限自股东会审议通过之日起至 2025 年 ...

本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2026 年 1 月 16 日 证券代码：605499 证券简称：东鹏饮料 公告编号：2026-004 东鹏饮料（集团）股份有限公司 2025年第二次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： (二)股东会召开的地点： 公司二楼 VIP 会议室（地址：深圳市南山区桃源街道珠 光北路 88 号明亮科技园 3 栋东鹏饮料 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 241 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 428,126,863 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 82.3300 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 公司 2025 年第二次临时股东会于 2026 年 1 月 16 日 14:30 ...

北京德恒（深圳）律师事务所 关于东鹏饮料（集团）股份有限公司 2025 年第二次临时股东会之 法律意见 北京德恒律师事务所 DeHeng Law Offices 深圳市福田区金田路 4018 号安联大厦 B 座 11 楼 电话:0755-88286488 传真:0755-88286499 邮编:518026 2025 年第二次临时股东会之 法律意见 关于东鹏饮料(集团)股份有限公司 2025年第二次临时股东会之法律意见 北京德恒（深圳）律师事务所 关于东鹏饮料(集团) 股份有限公司 德恒 06G20250094 号 致: 东鹏饮料（集团）股份有限公司 东鹏饮料(集团) 股份有限公司(以下简称"公司")2025年第二次临时股 东会 (以下简称"本次会议")于 2026 年 1 月 16 日 (星期五) 召开。北京德恒（深 圳)律师事务所(以下简称"德恒")受公司委托,指派汤海龙律师、王茂竹律师 (以下简称"德恒律师")出席了本次会议。根据《中华人民共和国证券法》(以 下简称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、 中国证券监督管理委员会《上市公司股东会规则》(以下简称"《股东会规则 ...

Core Viewpoint - Dongpeng Beverage's revenue meets expectations with proactive front-loading of expenses, projecting a significant growth trajectory for 2025 and beyond [1] Financial Performance - The company is estimated to achieve a revenue of 20.94 billion yuan in 2025, representing a year-on-year growth of 32.21%, with Q4 revenue projected at 4.096 billion yuan, a 24.84% increase [1] - The estimated net profit attributable to shareholders for the year is 4.465 billion yuan, reflecting a year-on-year growth of 34.20% [1] Cost and Expense Management - The company anticipates stable gross margins in Q4 2025 due to scale effects, with increased expenses related to proactive marketing and overseas market expansion [1] - The rise in seasonal expenses is expected to elevate the sales expense ratio, leading to fluctuations in net profit margins [1] Strategic Initiatives - In 2026, the company plans to intensify its ice cabinet deployment to enhance terminal channel display and reach [1] - The overseas market strategy will focus on building a specialized operational team over a 5-10 year horizon to solidify global expansion [1] Product Growth - The company expects double-digit growth in its specialty drinks segment in 2026, with rapid growth in its hydration products and tea offerings [1] - New products like "Port Milk" have shown positive market feedback and rapid distribution, benefiting from supply chain scale effects and cost advantages [1] Valuation - The current price-to-earnings ratio is projected at 31/24/19 times for the upcoming years, maintaining a "buy" rating for the stock [1]

Core Viewpoint - Dongpeng Beverage's annual performance meets expectations, with a focus on sales dynamics for the new year [1] Financial Performance - The company expects to achieve a net profit attributable to shareholders of 4.34 billion to 4.59 billion in 2025, representing a year-on-year increase of 30.5% to 38% [1] - For Q4 2025, the estimated net profit is projected to be between 580 million and 830 million, reflecting a year-on-year change of -6.5% to +34% [1] Strategic Outlook - In 2026, the company plans to strengthen its national strategy and explore multi-category development to facilitate its transformation into a platform-based company [1] - Short-term focus includes monitoring inventory buildup for the new year, holiday sales, and post-holiday channel expansion along with new product development trends [1] Cost Management - Currently, the prices of PET and sugar remain low, indicating a mild cost pressure for the new year [1] Long-term Growth Potential - The platform-based strategy and international expansion are expected to broaden the development space, indicating promising long-term growth prospects [1] Valuation - The current stock price corresponds to price-to-earnings ratios of 30x, 24x, and 20x for the upcoming years, maintaining a "buy" investment recommendation [1]

Group 1 - The core viewpoint of the article highlights that on January 15, brokerages set target prices for listed companies, with significant increases noted for certain companies [1] - The companies with the highest target price increases include Guanhao High-tech, Huali Technology, and Nengke Technology, with target price increases of 56.25%, 56.03%, and 40.34% respectively, belonging to the paper, entertainment products, and IT services industries [1] - A total of 26 listed companies received brokerage recommendations on January 15, with Citic Bank and Dongpeng Beverage each receiving two recommendations, while Guanhao High-tech received one recommendation [1]

Core Viewpoint - Dongpeng Beverage is on the verge of achieving its dual listing on the Hong Kong Stock Exchange, which is seen as a crucial step towards establishing a second growth curve for the company [1]. Group 1: Company Growth and Financial Performance - Dongpeng Beverage aims to cultivate a second growth curve within three years, as stated by its founder Lin Muqin [1]. - The company has shifted its listing strategy from considering a Swiss exchange to focusing on the Hong Kong Stock Exchange, submitting applications in April and October 2025 [1]. - Dongpeng Beverage's revenue growth has accelerated significantly, with a forecasted revenue of between 20.76 billion to 21.12 billion yuan for 2025, representing a growth rate of 31.07% to 33.34% [1]. - The company has achieved a remarkable revenue increase from 0 to 10 billion yuan in 29 years, and from 10 billion to 20 billion yuan in just 2 years [1]. Group 2: Market Position and Competitive Landscape - According to a report by Frost & Sullivan, Dongpeng Beverage ranks second in China's functional beverage industry with a market share of 23% as of 2024 [2]. - The company is the fastest-growing among the top five functional beverage companies in China, with a compound annual growth rate of 32.6% from 2022 to 2024 [2]. Group 3: IPO and Capital Utilization - The urgency for Dongpeng Beverage's IPO is partly driven by frequent share reductions by shareholders since the lifting of lock-up periods, with significant amounts cashed out [2]. - The IPO is expected to provide essential capital and a platform for expanding into overseas markets, enhancing international brand recognition and supporting global strategies [2]. - Part of the funds raised will be allocated to establishing supply chain infrastructure in key overseas markets, such as Indonesia, Vietnam, and Malaysia, to meet local demand [3]. Group 4: International Expansion Strategy - Dongpeng Beverage plans to invest $200 million in building a production base in Indonesia and use Hainan as an export hub for Southeast Asia [4]. - The company is currently in the early stages of international market expansion, exploring local partnerships and direct sales [4]. - Experts highlight the challenges Dongpeng Beverage faces in international compliance, supply chain construction, and local operational costs, emphasizing the need for a tailored approach rather than simply replicating domestic strategies [4].

"未来三年，东鹏必须培育发展出第二增长曲线"，东鹏饮料创始人林木勤3年前的一番雄心壮志，或将率先在资本市场实现。1月14日，港交所披露东鹏饮料 聆讯后资料集，这也意味着，东鹏饮料通过港交所聆讯，距离"A+H"双平台上市仅一步之遥。 显然，做到国内功能饮料头部的林木勤，并不满足于国内市场，其触角已经伸向海外。此次港股IPO的募资，主要用于海外供应链布局、品牌建设、渠道开 拓以及探索潜在投资及并购机会。 然而，随着国内"替代红牛"的品类红利减弱，功能饮料市场竞争加剧，东鹏饮料面临股东多次减持的压力；同时，海外市场环境风云突变，考验的是国际合 规抗风险、供应链建设等本地化运营能力。在新的竞争局面下，东鹏能否"再造东鹏"，面临不小的挑战。 "A+H"上市 2022年6月，东鹏饮料曾考虑过发行全球存托凭证并申请于瑞士证券交易所上市的可能性。然而，这一筹划于2024年2月终止，原因是考虑到外部资本市场环 境，以及公司当时集中时间与资源拓展销售网络、提升品牌知名度与形象的战略。 根据东鹏饮料2025年半年度报告计算，其海外营收约为0.11亿元，占比约为0.14%，全球化布局仍处于起步阶段。 此后，东鹏饮料调整了上市策略，将 ...