Eastroc Beverage(SH:605499) Zheng Quan Shi Bao Wang·2025-10-24 11:32Core Viewpoint - The resignation of Zhang Lei as the Secretary of the Board at Dongpeng Beverage coincides with a critical phase in the company's Hong Kong IPO process, raising questions about the implications for the company's capital market strategy [1][2][3] Financial Performance - In 2024, Dongpeng Beverage achieved a revenue of 15.839 billion yuan, a year-on-year increase of 40.63%, and a net profit of 3.327 billion yuan, up 63.09%, significantly surpassing the industry average growth rate [1] - As of Q3 2025, the company reported a revenue of 16.844 billion yuan, a year-on-year growth of 34.13%, and a net profit of 3.761 billion yuan, reflecting a 42.45% increase, both marking historical highs for the same period [1] Market Capitalization - Dongpeng Beverage's market capitalization rose from approximately 125.9 billion yuan at the beginning of 2025 to over 156.5 billion yuan by October, an increase of nearly 30 billion yuan, solidifying its position as the "first stock of functional beverages" in the A-share market [2] Investor Relations and IPO Process - Zhang Lei played a crucial role in enhancing investor relations, establishing regular communication mechanisms, and organizing multiple investor briefings to convey the company's strategic plans and core values [2] - During the Hong Kong IPO process, Zhang Lei was instrumental in restructuring the capital framework and liaising with international sponsors, laying a solid foundation for the company's IPO application [2] Strategic Implications of Resignation - Zhang Lei's resignation during the IPO process may be seen as a proactive measure to eliminate potential obstacles for the company's cross-border listing, as management stability is a key focus for regulators and global investors [3] - Dongpeng Beverage has initiated the selection process for a new Secretary of the Board to ensure a smooth transition in management responsibilities [3]