Eastroc Beverage(SH:605499) 智通财经网·2025-04-03 07:42Core Viewpoint - Dongpeng Beverage Group Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS serving as joint sponsors [1]. Company Overview - 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 [3]. - The company has maintained its position as the number one player 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]. Financial Performance - Revenue figures for Dongpeng Beverage are projected as follows: approximately 8.5 billion RMB in 2022, 11.26 billion RMB in 2023, and 15.83 billion RMB in 2024, reflecting a compound annual growth rate (CAGR) of 27.3% from 2022 to 2024 [6][7]. - The total comprehensive income for the same years is estimated at around 1.43 billion RMB, 2.06 billion RMB, and 3.36 billion RMB, respectively [6][7]. Market Potential - The functional beverage sector is the fastest-growing segment, with a retail sales CAGR of 8.3% from 2019 to 2024, surpassing the overall soft drink market growth of 4.7% during the same period [4]. - The Chinese soft drink market is substantial, with a projected retail value of approximately 1.3 trillion RMB in 2024, making it the second-largest soft drink consumption market globally [3]. Product Development - The company launched the "Dongpeng Water" product in January 2023, which quickly gained popularity, achieving nearly 1.5 billion RMB in revenue in its second year, with a year-on-year growth rate of 280.4% [3]. Industry Trends - The energy drink market in China is expected to reach 180.7 billion RMB by 2029, with a CAGR of 10.2% from 2024 to 2029 [4]. - The sports drink market is also on the rise, projected to grow from 54.7 billion RMB in 2024 to 99.7 billion RMB by 2029, with a CAGR of 12.8% [5].