Eastroc Beverage(SH:605499) Chang Jiang Shang Bao·2025-10-12 23:34Group 1 - Dongpeng Beverage has submitted its IPO application to the Hong Kong Stock Exchange for the second time in 2023, following an initial submission in April that became invalid after six months [3][4][12] - The company aims to enhance its capital strength and competitiveness through this IPO, despite already having significant financial resources [8][16][21] - Dongpeng Beverage has experienced rapid growth, with revenue increasing from 3.038 billion yuan in 2018 to an estimated 15.839 billion yuan in 2024, and net profit rising from 216 million yuan to approximately 3.327 billion yuan in the same period [7][27] Group 2 - The Lin Muqin family, the controlling shareholders of Dongpeng Beverage, has been actively cashing out, having realized over 5 billion yuan through share reductions and high cash dividends [9][10][22][26] - Since its IPO in 2021, Dongpeng Beverage has distributed a total of 6.6 billion yuan in cash dividends, with an average payout ratio of 63.62% [23] - Despite strong financial performance, Dongpeng Beverage remains heavily reliant on its flagship product, Dongpeng Special Drink, which accounted for 77.87% of its revenue in the first half of 2025 [27][28]