过度依赖单一产品，港股投资者会买东鹏饮料的账吗？

Core Viewpoint - Dongpeng Beverage is planning to list on the Hong Kong Stock Exchange, aiming to raise funds for capacity expansion, supply chain upgrades, brand building, and international market expansion [1][2]. Company Overview - Dongpeng Beverage is a leading player in China's functional beverage industry, focusing on the research, production, and sales of various drinks, including energy drinks, sports drinks, tea drinks, and coffee drinks. Its core product, "Dongpeng Special Drink," is highly recognized among consumers [3][4]. Market Position - Dongpeng Beverage has maintained its leading position in the functional beverage market, with a market share projected to reach 26.3% by 2024. The company is also expected to rank fourth in the global functional beverage market [5]. Financial Performance - The company has shown strong growth, with revenue increasing from 8,500 million to 15,830.3 million from 2022 to 2024, representing a compound annual growth rate (CAGR) of 36.5%. Net profit is expected to rise from 1,440.5 million to 3,326.4 million during the same period, with a CAGR of 52.0% [5]. Industry Potential - The Chinese soft drink industry is large and continues to grow, with functional beverages being the fastest-growing segment. The market for functional drinks is projected to reach 281 billion by 2029, with a CAGR of 11.0% from 2024 to 2029, providing ample growth opportunities for Dongpeng Beverage [6][7]. Brand and Sales Network - Dongpeng Beverage has a strong brand influence and a comprehensive sales network, covering nearly 4 million retail outlets across China, achieving close to 100% coverage in prefecture-level cities [7]. Digital Operations - The company has implemented advanced digital technologies, such as "one code for one product" and "five-code association," to enhance its digital operations, driving sales growth and improving decision-making accuracy [8]. Competitive Landscape - Despite its leading position, Dongpeng Beverage faces intense competition from both established brands and new entrants in the market. Competitors leverage scale advantages and innovative products to capture market share [9][13]. Growth Sustainability - While Dongpeng Beverage has achieved rapid growth, the sustainability of this growth is uncertain due to increasing market competition, potential price declines, and the uncertain acceptance and profitability of new products [11][12].