Core Insights - Nongfu Spring is expanding its business by investing 28.42 million yuan to build a food ice production line with an annual capacity of 7,000 tons in Hangzhou [2][9] - The company has already launched food ice products in 2024, including a 160g ice cup priced between 3.5 to 5 yuan, and a 2kg bag of pure transparent ice sold at 22.8 yuan [2][9] - The food ice market is experiencing significant growth, with ice cup sales increasing over 300% for two consecutive years, and the ice beverage segment expected to grow at a rate of 39% in the next three years [11] Company Overview - Nongfu Spring (Jiande) Xin'anjiang Beverage Co., Ltd. was established in May 2019, with a registered capital of 53.2 million yuan and is fully owned by Nongfu Spring Co., Ltd. [9][10] - The company focuses on food and beverage production and sales, with its ice products emphasizing the use of natural water sources from the Xin'an River Reservoir [9][10] Market Trends - The introduction of food ice products is seen as a new opportunity for Nongfu Spring, creating a "new scene" for ice and beverage consumption [2] - The demand for food ice is driven by consumer preferences for slow-melting ice suitable for homemade drinks, leading to supply shortages despite higher prices [2][9]