据港交所披露的信息，户外运动品牌伯希和户外运动集团股份有限公司（下称"伯希和"）近日再次向港交所提交上市申请书，中金公司、中信证 券担任联席保荐人。这是其于2025年4月28日首次递表失效后的再一次上市申请。 伯希和定位为中国高性能户外生活方式品牌，其在社交媒体上被称为"始祖鸟平替"。公开信息显示，伯希和创始人为刘振。2006年，刘振创立险 峰服装，从事面向海外品牌的服装出口贸易；2012年，推出旗舰品牌"伯希和"，并以险峰服装为运营平台开展品牌孵化与初期发展工作。经企业 重组，险峰服装于2018年2月成为伯希和户外运动集团股份有限公司的全资附属公司。 三年收入增长近4.67倍 根据上市申请书，近年来伯希和业绩实现快速增长。2022年至2024年，其收入从3.785亿元增长至17.661亿元，三年增长近4.67倍；净利润从2430 万元攀升至2.831亿元，2024年经调整净利润进一步增至3.043亿元。2025年上半年，伯希和收入同比增长62.3%至9.144亿元，毛利率同步提升至 64.2%。 数据显示，伯希和净销售额则从2022年的3.509亿元增长至2024年的17.331亿元，复合年增长率达122. ...

Industry Insights - The coconut water market in China is expected to continue its rapid growth, with a projected increase from $49.7 million in 2019 to $1,018.1 million by 2024, reflecting a compound annual growth rate (CAGR) of 82.9% [1] - Over the next five years, the market is anticipated to maintain a strong growth rate of 20.2%, reaching $2,550.4 million by 2029 [1] - Key drivers of this growth include rising health awareness, improved distribution channels, expanded consumer demographics, and customized products [1] - The company is projected to hold a 33.9% market share in the coconut water beverage sector in China by 2024, significantly outpacing the second-largest competitor by over seven times [1] - Per capita consumption of coconut water in China, Hong Kong, and the U.S. is expected to be 0.1, 0.3, and 1.2 liters respectively in 2024, indicating potential for threefold growth in mainland China compared to Hong Kong and twelvefold compared to the U.S. [1] Company Performance - The company reported a revenue of $158 million in 2024, marking an 80.29% year-on-year increase, with a profit of $33 million, up 98.85% [2] - The revenue contributions from the IF and Innococo brands were $131 million and $26 million, accounting for 83.31% and 16.64% of total revenue respectively [2] - Revenue from mainland China and Hong Kong was $146 million and $7 million, representing 92.39% and 4.57% of total revenue [2] - Approximately 50% of the company's sales in mainland China were distributed through online channels, with Tmall, JD, and Douyin contributing 50%, 20%, and 15% of online sales respectively [2] - The company's gross margins improved from 34.70% in 2023 to 36.70% in 2024, while net margins increased from 19.16% to 21.13% [2] - The high net profit margin is attributed to low operating expenses due to the company's light asset model and a stable competitive landscape [2] Profit Forecast and Investment Recommendation - The company is expected to achieve revenues of $200.91 million, $271.34 million, and $355.23 million in 2025, 2026, and 2027, with year-on-year growth rates of 27.44%, 35.06%, and 30.91% respectively [3] - Projected net profits for the same years are $38.59 million, $55.93 million, and $74.71 million, with growth rates of 15.83%, 44.93%, and 33.58% [3] - Corresponding earnings per share (EPS) are forecasted to be $0.14, $0.21, and $0.28, with price-to-earnings (PE) ratios of 27, 18, and 14 times [3] - The company is given a "buy" rating based on these projections [3]

Group 1 - The company Greenheart Group (00094) plans to sell its forestry assets in New Zealand for approximately NZD 134 million (around HKD 615.5 million) to Ingka Investments Forest Assets NZ Limited [1] - The assets for sale include multiple plots of land in New Zealand, related licenses, memorandums of understanding, and various operational data [1] - After the sale, the company will no longer hold forestry land in New Zealand and will shift its focus to a light asset business model, generating revenue primarily from existing and new logging rights, forest management fees, and sales of logs and timber products [1] Group 2 - The company has signed a three-year forest management agreement with the buyer, which is expected to generate additional annual revenue of USD 150,000 (approximately HKD 1.17 million) [1] - Following shareholder approval at a special general meeting, the board intends to declare a special dividend of HKD 0.01 per share to shareholders on the register at a yet-to-be-determined record date [1] - The company has submitted an application to the stock exchange to resume trading of its shares starting from 9:00 AM on September 11, 2025 [2]

待股东于股东特别大会上批准及完成后，董事会拟向于待定记录日期名列公司股东名册的股东派付特别 股息每股0.01港元。 智通财经APP讯，绿心集团(00094)公布，于2025年8月29日，公司间接全资附属Greenheart Mangakahia Forest Land Limited、Greenheart Papakorakora Forest NZ Limited及Greenheart Mangakahia Forest M ori Land Limited拟向Ingka Investments Forest Assets NZ Limited出售待售资产，代价为约1.34亿新西兰币(相 当于约6.155亿港元)。 此次出售资产主要包括位于新西兰的多幅土地、新西兰单位、相关许可协议、谅解备忘录以及各类记录 和运营数据等。 出售事项完成后，该集团不再持有新西兰林业土地，未来将聚焦轻资产业务模式，收益来源主要为现有 及新获取的砍伐权、森林管理费用以及原木和木材产品的销售交易等。同时，集团已与买方签订为期三 年的森林管理协议，预计每年可带来额外收益 15万美元(约 117 万港元)。 此外，公司已向联交所提交自2 ...

Core Viewpoint - IFBH Limited (06603.HK) successfully listed on the Hong Kong Stock Exchange, closing at HKD 39.50, a 42.09% increase from its final offer price of HKD 27.80 [1][4]. Summary by Relevant Sections IPO Details - IFBH issued a total of 41,666,800 shares, with 20,833,400 shares allocated for public offering and 20,833,400 shares for international offering [1]. - The total proceeds from the offering amounted to HKD 1,158.34 million, with net proceeds of HKD 1,073.93 million after deducting estimated listing expenses of HKD 84.41 million [4][5]. Use of Proceeds - Approximately 30% of the net proceeds will enhance the company's warehousing and distribution capabilities - About 22% will be allocated for brand development - Approximately 13% will strengthen the company's market position in mainland China and expand into Australia, the Americas, and Southeast Asia - Around 5% will improve product development capabilities - About 20% will be used to form strategic alliances and acquisitions in Asia, North America, or Australia - Approximately 10% will be allocated for working capital and other general corporate purposes [6]. Company Overview - IFBH is a Thailand-based company specializing in ready-to-drink beverages and ready-to-eat foods, founded in 2013, and is a leader in introducing natural coconut water to mainland China [6]. - The company's products are also popular in other Asian markets, including Hong Kong, Singapore, and Taiwan, and are beginning to enter other global markets [6]. Financial Performance - Revenue for the period from December 8, 2022, to December 31, 2023, was USD 87.4 million, projected to increase by 80.3% to USD 157.6 million in 2024 [7][8]. - The net profit for the same periods was USD 16.8 million and USD 33.3 million, respectively [7]. - The sales of coconut water accounted for 95.6% of the company's revenue in 2024, with sales in mainland China representing 92.4% of total revenue [8][9]. Cash Flow and Operations - The net cash flow from operating activities was USD 26.9 million for the initial period and is expected to rise to USD 41.8 million in 2024 [10]. - The company has achieved rapid expansion with a lean workforce of 46 employees, all located in Thailand and Singapore [11].

Group 1 - IFBH Limited has submitted an IPO application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - IFBH is a Thai food and beverage company specializing in coconut water and plant-based snacks, with over 80% year-on-year growth in revenue and net profit projected for 2024 [2][3] - The company is heavily reliant on the Chinese market, which contributes over 90% of its revenue [2][5] Group 2 - IFBH is the second-largest company in the global coconut water market by retail value, holding a market share of 34% in mainland China and 60% in Hong Kong in 2024 [3] - In 2023, IFBH reported revenue of $87.44 million and a net profit of $16.75 million, with projections for 2024 showing revenue increasing to $157.65 million and net profit rising to $33.32 million [4] - The company operates on a light asset model, relying on third-party manufacturers, logistics providers, and distributors, with only 46 full-time employees as of 2024 [4] Group 3 - The top five customers of IFBH accounted for 97.9% and 97.6% of sales in 2023 and 2024, respectively, indicating a high dependency on a few key clients [5] - The revenue contribution from mainland China was 91.4% in 2023 and is expected to be 92.4% in 2024, while contributions from Hong Kong and other markets remain below 10% [6] - The funds raised from the IPO will be used to enhance warehousing and distribution capabilities, expand into Australia, the Americas, and Southeast Asia, strengthen brand presence in mainland China, and for general corporate purposes [9]