Eastroc Beverage(SH:605499) Xin Lang Cai Jing·2025-07-27 10:27Core Insights - Dongpeng Beverage reported a strong performance in H1 2025, with total revenue of 10.737 billion, a year-on-year increase of 36.37%, and a net profit attributable to shareholders of 2.375 billion, up 37.22% [1] - The company announced a cash dividend plan, proposing a distribution of 1.3 billion to shareholders, with a payout ratio of 54.7% [1] Financial Performance - In H1 2025, the company achieved a gross margin of 45.15%, an increase of 0.55 percentage points year-on-year, driven by lower raw material costs [4] - The net profit margin for Q2 2025 was 23.69%, a decrease of 0.61 percentage points year-on-year, attributed to increased revenue share from electrolyte water and other beverages [4] Revenue Breakdown - For H1 2025, revenue from energy drinks, electrolyte drinks, and other beverages was 8.361 billion, 1.493 billion, and 0.877 billion, respectively, with year-on-year growth rates of 21.9%, 213.7%, and 66.2% [3] - In Q2 2025, the revenue for these segments was 4.460 billion, 0.923 billion, and 0.503 billion, with growth rates of 18.8%, 190%, and 61.8% [3] Growth Prospects - The company is expected to continue its growth trajectory, with forecasts for net profit attributable to shareholders of 4.499 billion, 5.601 billion, and 6.753 billion for 2025 to 2027, reflecting year-on-year growth of 35.2%, 24.5%, and 20.6% [2] - The product matrix has expanded to include energy drinks, electrolyte drinks, tea beverages, plant-based protein drinks, and coffee drinks, enhancing market coverage [3] Market Strategy - The company has established a robust distribution network with over 3,200 distributors and coverage of more than 4.2 million active retail points [3] - The ongoing investment in ice cabinets and sales efforts is expected to drive further growth in the "Brewed Water" segment [3]