Ge Long Hui·2025-09-02 06:32Core Viewpoint - The report from CMB International indicates that Nongfu Spring's revenue for the first half of the year increased by 15.6% year-on-year, meeting expectations, while net profit rose by 22%, exceeding expectations, driven by the recovery in water business, strong performance in tea, functional beverages, and juice, as well as effective cost control, particularly in raw material costs [1] Summary by Category - Financial Performance - Revenue increased by 15.6% year-on-year [1] - Net profit increased by 22% year-on-year, surpassing expectations [1] - Business Segments - Recovery in water business contributed positively to overall performance [1] - Strong performance noted in tea, functional beverages, and juice segments [1] - Cost Management - Effective cost control measures implemented, especially in raw material costs [1] - Target Price Adjustment - Target price raised from HKD 46.74 to HKD 57.75 [1] - "Buy" rating maintained by the firm [1]