星标 ★ IPO日报 精彩文章第一时间推送 继4月3日向港交所递交过上市申请后，这家"功能饮料第一股"于10月9日递表，申请在香港进行第二上市，由 华泰国际、摩根士丹利及瑞银集团联合保荐。 东鹏饮料登陆A股4年多，股价高歌猛进，如今前往港股，控股股东林木勤的家族又将迎来一场资本盛宴。 制图：佘诗婕 中国功能饮料第一 东鹏饮料，全称东鹏饮料(集团)股份有限公司，前身东鹏实业于1994年注册成立。2003年10月林木勤及东鹏 实业其他19名员工受让接手东鹏实业产权。 2009年底，林木勤开启包装差异化、价格差异化之路，推出了带有防尘盖的瓶装东鹏特饮，成功打开了大本营 广东的市场。 彼时，中国功能饮料市场，红牛是领头代表。而东鹏特饮在邀请谢霆锋担任品牌代言人、提出"累了、困了、喝 东鹏特饮"等朗朗上口的口号等一系列操作之下，日渐开始拥有国民知名度。 截至目前，东鹏饮料的产品矩阵已涵盖能量饮料、运动饮料、茶饮料、咖啡饮料、植物蛋白饮料和果蔬汁饮料 等多个品类。公司更是成长为中国第一的功能饮料企业，收入增速在全球前20大上市软饮企业中位列第一。 根 据咨询机构弗若斯特沙利文报告，按销量计，东鹏饮料在中国功能饮料市场自2 ...

Core Viewpoint - Dongpeng Beverage Group Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to leverage its leading position in the functional beverage market in China and expand its operations further [3][4]. Company Overview - Dongpeng Beverage is recognized as the leading functional beverage company in China, with the highest revenue growth among the top 20 listed soft drink companies globally [4]. - The company has maintained its position as the number one in the Chinese functional beverage market for four consecutive years, increasing its market share from 15.0% in 2021 to an expected 26.3% in 2024 [4]. - As of October 9, 2023, Dongpeng Beverage's stock price was 301.51 RMB per share, with a market capitalization of 156.79 billion RMB [3]. Financial Performance - Revenue figures for Dongpeng Beverage are projected as follows: approximately 8.5 billion RMB for 2022, 11.26 billion RMB for 2023, 15.83 billion RMB for 2024, and 10.73 billion RMB for the first half of 2025 [9]. - The total comprehensive income for the same periods is estimated at around 1.43 billion RMB, 2.06 billion RMB, 3.36 billion RMB, and 2.35 billion RMB respectively [9]. Industry Insights - The Chinese soft drink industry is substantial, with a projected retail value of approximately 1.3 trillion RMB in 2024, making it the second-largest soft drink market globally [9]. - The functional beverage segment is the fastest-growing within the soft drink industry, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024, surpassing the overall soft drink market growth of 4.7% [9]. - The energy drink sector in China is expected to reach a market size of 180.7 billion RMB by 2029, with a CAGR of 10.3% from 2025 to 2029 [10]. - The sports drink market is also expanding, with an expected size of 54.7 billion RMB in 2024, projected to grow to 99.7 billion RMB by 2029, reflecting a CAGR of 12.2% [10]. Strategic Initiatives - The net proceeds from Dongpeng Beverage's IPO are intended for enhancing production capacity, upgrading the supply chain, strengthening brand influence, expanding national and international market presence, and improving digital operations [10]. - The company has established a comprehensive digital operation system that connects with over 250 million consumers and collaborates with more than 3,200 distribution partners [6][9].

Company Overview - Dongpeng Beverage (605499) has submitted an application to the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS Group as joint sponsors [1] - As the leading functional beverage company in China, Dongpeng Beverage ranks first in revenue growth among the top 20 listed soft drink companies globally [1] - The company has over 30 years of industry experience and has successfully built the "Dongpeng" national brand while continuously innovating products and expanding categories [1] Market Position - According to a Frost & Sullivan report, Dongpeng Beverage has ranked first in sales volume in China's functional beverage market for four consecutive years since 2021, with a significant increase in market share [1] - By retail value, Dongpeng Beverage is projected to be the second-largest functional beverage company in China in 2024, holding a market share of 23.0% [1] Sales Network and Digital Operations - As of June 30, 2025, Dongpeng Beverage has established a comprehensive sales network covering over 4.2 million terminal sales points nationwide [1] - The company employs refined channel management and a "product + service" model, being a pioneer in utilizing "one code for one product" and "five codes association" technology for product traceability [1] - Its integrated digital operation system connects over 250 million consumers, 4.2 million terminal sales points, and 3,200 distribution partners [1] Industry Insights - The retail value of China's soft drink industry is approximately RMB 1.3 trillion in 2024, making it the second-largest consumer market globally [2] - Functional beverages are the fastest-growing segment, with a compound annual growth rate (CAGR) of 8.3% from 2019 to 2024, surpassing the overall soft drink market growth of 4.7% during the same period [2] - It is expected that the retail value of China's energy drink industry will reach RMB 180.7 billion by 2029, with a CAGR of 10.3% from 2025 to 2029 [2]

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 ...