Eastroc Beverage(SH:605499) Sou Hu Cai Jing·2025-12-31 01:21Core Viewpoint - The appointment of Zhan Honghui as the new company secretary of Dongpeng Beverage marks a significant step in the company's preparations for its Hong Kong IPO, coinciding with a critical phase of capital operations and global expansion [2][5][7]. Group 1: Management Changes - Zhan Honghui has been appointed as the company secretary, with a term lasting until the end of the current board's tenure, following the resignation of the previous secretary Zhang Lei due to job reallocation [2]. - Zhan possesses a strong academic background from Peking University and holds dual qualifications as a CPA and ACCA, indicating a high level of professional competence [4]. - His career includes significant experience in auditing and investment, having worked with Ernst & Young and PwC, and he has been with Dongpeng Beverage since April 2022, rising through the ranks to his current position [4]. Group 2: Company Performance - For the first three quarters of 2025, Dongpeng Beverage reported revenue of 16.844 billion yuan, a year-on-year increase of 34.13%, and a net profit attributable to shareholders of 3.761 billion yuan, up 38.91% [9]. - The company's gross margin slightly decreased by 0.6 percentage points due to a higher proportion of low-margin products, but effective cost control led to a 2.6 percentage point reduction in sales expense ratio [9]. - Forecasts suggest that Dongpeng Beverage's revenue will exceed 20.6 billion yuan in 2025, with a net profit of 4.547 billion yuan, reflecting a year-on-year growth of 36.7% [9]. Group 3: Strategic Initiatives - The dual capital platform (A+H shares) requires enhanced governance and compliance in information disclosure, aligning with the company's current capital needs [7]. - Zhan's appointment comes at a time when the company is transitioning from being a leader in functional beverages to a diversified global beverage group, presenting both challenges and opportunities [7].