Core Viewpoint - The surge in taurine prices and the popularity of functional beverages have significantly driven the stock price of Yong'an Pharmaceutical, which has seen a remarkable increase in recent weeks [2][9]. Group 1: Taurine Market Dynamics - Yong'an Pharmaceutical, the largest taurine producer globally, is projected to achieve approximately 635 million yuan in revenue from taurine raw materials in 2024, accounting for 75.69% of total revenue [7]. - Recent international taurine prices have exceeded $10 per kilogram, driven by trade war price expectations and U.S. regulations mandating taurine in infant formula and pet food [7][8]. - The global demand for taurine is estimated at 160,000 tons annually, while current production capacity is only 140,000 tons, resulting in a shortfall of about 20,000 tons [8]. Group 2: Functional Beverage Market Entry - Yong'an Pharmaceutical has successfully entered the functional beverage market, contributing to its recent stock price surge [9]. - The company's solid functional beverage brand, Yijianeng, has achieved significant sales, ranking first in popularity on various e-commerce platforms [10]. - The functional beverage market in China is projected to grow to 166.5 billion yuan by 2024, with a compound annual growth rate of 8.3% from 2019 to 2024, indicating substantial growth potential [10][11]. Group 3: Strategic Initiatives - The company has focused on the anti-fatigue market for its functional beverage offerings, with plans to launch its self-branded products by the end of 2024 [11]. - Yong'an Pharmaceutical is actively involved in the research, development, and production of taurine-based functional foods and health products [11].

招股书显示，东鹏饮料是中国第一、全球领先的功能饮料企业，收入增速在全球前20大上市软饮企业中 位列第一。根据弗若斯特沙利文报告，按销量计，公司在中国功能饮料市场自2021年起连续4年排名第 一，领先地位持续夯实，市场份额从2021年的15.0%增长到2024年的 26.3%。2024年，公司的能量饮料 录得收入 133.036亿元人民币，2022年至2024年收入年复合增长率达27.3%。在运动饮料领域，公司 2023年1月推出的"东鹏补水啦"产品，凭借与流汗和补水场景强关联而迅速崛起，其"快 速补充电解 质"的产品功能主张广为传播，于推出的第二年录得收入近15亿元人民币， 同比增速达到280.4%。 智通财经APP获悉，据港交所4月3日披露，东鹏饮料(集团)股份有限公司(简称：东鹏饮料(605499.SH)) 递表港交所主板，华泰国际、摩根士丹利、瑞银集团为联席保荐人。 | [编纂]股H股(視乎[编纂]行使與否而定) | 【编纂]的[编纂]數目 : | | | --- | --- | --- | | [编纂]股H股(可予[编纂]) | [编纂]數目 | | | [编纂]數目 | : | [编纂]股H股(可予 ...