遭散户疯抢的if椰子水上市，消费企业“排队上车”？今年上半年港股新股市场消费股占比超三成

Core Viewpoint - IFBH Limited, the parent company of if coconut water, has successfully listed on the Hong Kong Stock Exchange, attracting significant interest from both retail and institutional investors, with a subscription level exceeding 2600 times during the public offering phase [1][2]. Group 1: Company Overview - IFBH Limited has a market share of 34% in China's coconut water market, with revenue and profit growth rates exceeding 80% year-on-year [3]. - The company operates with a light asset model, relying on third-party partners for sourcing, production, logistics, and sales [3]. - The company is backed by notable investors, including private equity firms and significant figures like Zhong Shanshan, who holds at least 30% of a related private equity fund [2][3]. Group 2: Market Trends - The Hong Kong IPO market has seen over 30% of new listings in the first half of 2025 being consumer-related companies, with more than 30 consumer firms currently in the pipeline [4][5]. - High subscription multiples for consumer IPOs indicate a strong interest in the sector, with several companies achieving subscription levels above 2000 times [5][6]. - The market shows a preference for companies with high growth potential, verifiable profit models, and strong repeat purchase rates, particularly in sectors like emotional consumption, chain dining, and gold jewelry [6]. Group 3: Industry Challenges - The domestic coconut water market faces challenges such as rising raw material costs and a lack of industry standards [3]. - Recent price increases and expansion plans from competitors highlight the pressures within the industry [3].