Eastroc Beverage(SH:605499) Zhi Tong Cai Jing·2026-01-14 13:00Core Viewpoint - Dongpeng Beverage is set to list on the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS serving as joint sponsors. The company is recognized as the leading functional beverage enterprise in China, with significant growth in market share and revenue [1][3]. Company Overview - Dongpeng Beverage is the number one functional beverage company in China, with a market share that has grown from 15.0% in 2021 to an estimated 26.3% in 2024 [3]. - The company has established a comprehensive sales network covering over 4.3 million retail outlets across nearly all prefecture-level cities in China by September 30, 2025 [3]. Financial Performance - Revenue figures for Dongpeng Beverage are as follows: approximately 8.5 billion RMB in 2022, 11.26 billion RMB in 2023, and projected 15.83 billion RMB in 2024 [6]. - The gross profit margin for the company has shown an upward trend, with gross profit margins of 41.6% in 2022, 42.3% in 2023, and projected 44.1% in 2024 [7]. Market Trends - The retail value of China's soft drink industry is expected to reach approximately 1.3 trillion RMB in 2024, with functional beverages being the fastest-growing segment, projected to grow at a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024 [4]. - The energy drink sector in China is anticipated to reach a market size of 180.7 billion RMB by 2029, with a CAGR of 10.3% from 2025 to 2029 [5][6]. - The sports drink market is also expected to grow significantly, reaching 997 billion RMB by 2029, with a CAGR of 12.2% from 2025 to 2029 [6].