公开资料显示，2021年5月27日，东鹏饮料在上交所主板上市。10月9日，东鹏饮料低开1.88%报298.09元/股，截至午间休市，该股跌超2%，总市值约1548 亿元。今年以来，该股涨幅超两成。 同时，东鹏饮料近年的销售费用呈增长态势。2022年至2024年，东鹏饮料的销售费用分别达14.49亿元、19.56亿元、26.81亿元，同比增速从5.91%逐年攀 升至37.09%，营收占比在17%左右，三年累计支出超过60亿元。 业绩方面，2022年至2024年，东鹏饮料营业收入分别为85.05亿元、112.63亿元、158.39亿元，同比增长21.89%、32.42%、40.63%；归母净利润分别为 14.41亿元、20.40亿元、33.27亿元，同比增长20.75%、41.60%、63.09%。2025年上半年，东鹏饮料营业收入107.37亿元，同比增长了36.37%。归母净利润 23.75亿元，同比增长37.22%。 根据弗若斯特沙利文报告，按销量计，东鹏饮料在中国功能饮料市场自2021年起连续四年排名第一，市场份额从2021年的15.0%增长到2024年的26.3%。 按零售额计，东鹏饮料是2024年第二 ...

北京商报讯(记者孔文燮)10月9日，据港交所披露，东鹏饮料（605499）向港交所主板提交上市申请 书，华泰国际、摩根士丹利、瑞银集团为联席保荐人。值得一提的是，东鹏饮料曾于2025年4月3日向港 交所递交过上市申请。 ...

Core Viewpoint - Dongpeng Beverage has submitted an application for listing on the Hong Kong Stock Exchange, with a strong market position in the functional beverage sector and significant revenue growth prospects [1][3]. Company Overview - Dongpeng Beverage is the leading functional beverage company in China, ranking first in revenue growth among the top 20 listed soft drink companies globally [3]. - The company has maintained its position as the top player in the Chinese functional beverage market for four consecutive years since 2021, with market share increasing from 15.0% in 2021 to 26.3% in 2024 [3]. - By retail revenue, Dongpeng is projected to be the second-largest functional beverage company in 2024, holding a market share of 23.0% [3]. - The company has built a strong brand with national influence, focusing on product innovation and a diversified product portfolio [3]. Sales and Distribution Strategy - Dongpeng Beverage employs a refined channel management strategy, utilizing a "product + service" model supported by a sales team of over 7,000 [4]. - The company has implemented advanced tracking technologies, including a unique QR code system for product traceability, enhancing operational efficiency [4]. - As of June 30, 2025, Dongpeng has connected with over 250 million consumers and interacted efficiently with over 420 million retail points [4]. Industry Insights - The Chinese soft drink market is projected to reach approximately RMB 1.3 trillion in retail sales by 2024, making it the second-largest soft drink consumption market globally [5]. - The functional beverage segment is the fastest-growing sector, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024, outpacing the overall soft drink market growth of 4.7% during the same period [5]. - The energy drink market in China is expected to reach RMB 180.7 billion by 2029, with a CAGR of 10.3% from 2025 to 2029 [5]. Financial Performance - Dongpeng Beverage's revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 8.5 billion, RMB 11.26 billion, RMB 15.83 billion, and RMB 10.73 billion, respectively [7]. - The total comprehensive income for the same periods was approximately RMB 1.43 billion, RMB 2.06 billion, RMB 3.36 billion, and RMB 2.35 billion [7].

Company Overview - Dongpeng Beverage Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS serving as joint sponsors [1] - Dongpeng Beverage is recognized as the leading functional beverage company in China, with the fastest revenue growth among the top 20 listed soft drink companies globally [3] Market Position - Dongpeng Beverage has maintained the number one position in the Chinese functional beverage market for four consecutive years since 2021, increasing its market share from 15.0% in 2021 to 26.3% in 2024 [3] - By retail value, Dongpeng Beverage is projected to be the second-largest functional beverage company in 2024, holding a market share of 23.0% [3] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 8.5 billion, RMB 11.26 billion, RMB 15.83 billion, and RMB 10.73 billion respectively [5][6] - The total comprehensive income for the same periods was approximately RMB 1.43 billion, RMB 2.06 billion, RMB 3.36 billion, and RMB 2.35 billion [6] Industry Insights - The retail value of China's soft drink industry is expected to reach approximately RMB 1.3 trillion in 2024, making it the second-largest soft drink market globally [5] - The functional beverage segment is the fastest-growing sector, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024, surpassing the overall soft drink market growth of 4.7% during the same period [5] Operational Strategy - Dongpeng Beverage employs a refined channel management strategy and a unique "product + service" model, supported by a sales team of over 7,000 [4] - The company has established a comprehensive digital operation system that enhances sales growth, decision-making accuracy, and cost efficiency, connecting with over 250 million consumers and more than 4.2 million retail outlets [4]

Core Viewpoint - Dongpeng Beverage Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS as joint sponsors. This follows a previous application submitted on April 3, 2025 [1]. Company Overview - Dongpeng Beverage is the leading functional beverage company in China, ranking first in revenue growth among the top 20 listed soft drink companies globally. The company's market share in the Chinese functional beverage market has increased from 15.0% in 2021 to 26.3% in 2024 [3]. - The company has established a strong brand presence over 30 years, providing high-quality beverages and achieving nearly 100% coverage of prefecture-level cities in China with over 4.2 million sales points as of June 30, 2025 [3]. Business Strategy - Dongpeng Beverage employs a refined channel management strategy and a unique "product + service" model, supported by a sales team of over 7,000. The company has implemented advanced tracking technologies to enhance product traceability and operational efficiency [4]. - The company has built a comprehensive digital operation system that connects with over 250 million consumers and interacts efficiently with over 4.2 million sales points and more than 3,200 distribution partners [4]. Industry Insights - The Chinese soft drink market is projected to reach approximately RMB 1.3 trillion in retail sales by 2024, making it the second-largest soft drink consumption market globally. The functional beverage segment is the fastest-growing, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024 [5]. - The energy drink sector in China is expected to reach RMB 180.7 billion by 2029, with a CAGR of 10.3% from 2025 to 2029 [5]. Financial Performance - Dongpeng Beverage's revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 8.5 billion, RMB 11.26 billion, RMB 15.83 billion, and RMB 10.73 billion, respectively. The total comprehensive income for the same periods was about RMB 1.43 billion, RMB 2.06 billion, RMB 3.36 billion, and RMB 2.35 billion [7][8].

香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性 或完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 Eastroc Beverage (Group) Co., Ltd. 東鵬飲料（集團）股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證 監會」）的要求而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽 本文件，即代表 閣下知悉、接納並向本公司、本公司的聯席保薦人、整體協調人、顧 問或包銷團成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註 冊處處長註冊的本公司招股章程作出投資決定，招股章程的文本將於發售期內向公眾 人士派發。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的；投資者 不應根據本文件中的資料作出任何投資決定； (b) 在聯交所網站登 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Eastroc Beverage (Group) Co., Ltd. 東鵬飲料（集團）股份有限公司 (the "Company") (A joint stock company incorporated in the People ...

Core Conclusions - The report emphasizes that the food and beverage industry is currently at a bottoming phase, with strong players continuing to thrive [4] - The market has underperformed due to weak domestic demand and consumer confidence, with A-share food and beverage sector down 4.7% year-to-date, while H-share food and beverage sector increased by 29.5% [4] - There is a notable divergence among product categories, with alcoholic beverages facing pressure while mass-market products show signs of improvement, particularly in leading brands [4] Market Indicators - The trading volume, open interest, and valuation of the food and beverage sector are at historically low levels, with the sector's trading volume in A-shares dropping below 2% [9][10] - The price-to-earnings (PE) ratio for food and beverage has been declining since 2021, with categories like liquor and beer at historically low percentiles [12][16] Fundamental Analysis - The report discusses the need for a top-down approach to assess the investment value of leading companies like Kweichow Moutai, which holds a 31% weight in the food and beverage sector [27] - A bottom-up approach is also suggested to identify rapidly growing segments or companies in recovery [27] Company Recommendations - The report recommends focusing on policy-sensitive sectors such as liquor and the restaurant supply chain, highlighting companies like Kweichow Moutai, Luzhou Laojiao, and Haidilao [4] - Strong brands in the mass-market segment are also recommended, including Nongfu Spring, Dongpeng Beverage, and Yili Group [4] Industry Outlook - The report anticipates a recovery in liquor consumption as the impact of recent policies diminishes, with positive signals expected from the supply side [4] - The fourth quarter is projected to see improvements in key indicators for the liquor sector, including the price of Moutai [4] Performance Forecast - For Q3 2025, Kweichow Moutai is expected to generate revenue of 1,863.3 billion yuan, reflecting a 7% year-on-year increase, while Luzhou Laojiao is projected to see a 10% decline in revenue [49][50] - The report provides detailed forecasts for various companies, indicating expected revenue and profit changes for the upcoming quarters [49][50]

Core Insights - Dongpeng Beverage is strategically positioning itself in the youth market by sponsoring various events, including the HHI World Street Dance Championship and the Guomen Summit Breaking competition, showcasing its commitment to youth culture and sports [1][2][3] Group 1: Brand Strategy - Dongpeng Beverage's partnership with street dance culture is based on a multi-dimensional approach of functional fit, audience alignment, and long-term planning, ensuring a deep integration rather than a superficial collaboration [2] - The core attributes of Dongpeng's functional drink, which include fatigue resistance and mental alertness, align well with the physical demands of street dance competitions, providing a natural basis for brand integration [2] - Dongpeng has been a strategic partner of the Chinese breakdancing national team since 2021 and has continuously increased its investment in the street dance sector, including becoming the naming partner for the Guomen Summit International Street Dance League in 2025 [3] Group 2: Multi-Dimensional Layout - Dongpeng is extending its youth-oriented strategy beyond street dance to include esports and various sports events, creating a comprehensive brand ecosystem that covers all aspects of young people's lives [4] - The company has been involved in esports since 2016, sponsoring the KPL Honor of Kings professional league and partnering with the Peace Elite Professional League (PEL) in 2025, establishing a robust esports matrix [4] - In the sports sector, Dongpeng is the exclusive naming sponsor of the 2025 FIA F4 Formula China Championship and is actively involved in various sports events, including the Spartan Race and tennis tournaments, ensuring broad coverage in both trendy and mainstream sports [4] Group 3: Revenue Growth - Dongpeng's electrolyte drink, "Dongpeng Buliang," has rapidly gained market traction, achieving revenue of 1.493 billion yuan in the first half of 2025, reflecting a year-on-year growth of 213.7%, validating the success of its scene-based strategy [5] Group 4: Data-Driven Operations - Dongpeng Beverage has established a digital operation system centered around a closed-loop model of data insight, demand conversion, and product optimization, which supports the precise implementation of its youth marketing strategy [7] - The company utilizes a "five-code association" technology to create a smart platform that tracks product sales data in real-time across various scenarios, laying the groundwork for comprehensive operational optimization [8] - Dongpeng enhances its operational efficiency by implementing a dynamic product lifecycle monitoring system, ensuring product freshness and quality, and by providing merchants with a one-stop data platform to respond quickly to market demands [8] Conclusion - Dongpeng Beverage is building a marketing ecosystem that deeply engages with young consumers through cultural connections, scene-based strategies, and data-driven insights, reinforcing its brand message of "Youth Must Be Awake to Compete" and driving significant growth in its product lines [9]

Group 1 - The core viewpoint of the article highlights that Dongpeng Beverage Group Co., Ltd. has seen its Hong Kong IPO application expire after six months, with Huatai International, Morgan Stanley, and UBS serving as joint sponsors [1] Group 2 - Dongpeng Beverage is recognized as the leading functional beverage company in China and globally, with the highest revenue growth among the top 20 listed soft drink companies worldwide [2] - According to a report by Frost & Sullivan, Dongpeng Beverage has maintained its number one position in the Chinese functional beverage market for four consecutive years since 2021, with its market share increasing from 15.0% in 2021 to 26.3% in 2024 [2]