东鹏饮料(集团)股份有限公司（简称："东鹏饮料"，股票代码："09980"）今日在港交所上市。 东鹏饮料基石投资者一共认购6.4亿美元（约49.9亿港元），分别为Al-Rayyan、太白投资有限公司、True Light Investments、BlackRock基金、UBS Asset Management、Huang River Investment、红杉旗下HSG Growth VII Holdco、JPMorgan Asset Management、博裕资本旗下Azure Skylines、泰康人寿保险有限 责任公司、Pacific Century Pines Investments 1、FMR参与基金、Velmar Company、保银资产管理有限公司、Amazing Mountain、Great China Motivation Fund Phase II。 东鹏饮料此次发行价为248港元，发行4089万股，募资总额为101亿港元，扣除发行应付上市费用1.46亿港元，募资净额为99.94亿港元。 | | | | | | 假設超額配股權未獲行使 假設超額配股權獲悉數行使 | | | | --- | ...

「IPO全观察」 栏目聚焦首次公开募股公司，报道企业家创业经历与成功故事，剖析公司商业模式和 经营业绩，并揭秘VC、CVC等各方资本力量对公司的投资加持。 作者丨漫地 编辑丨 关 雎 刚刚，东鹏饮料（集团）股份有限公司在港交所上市，成为"A+H"能量饮料第一股。 早在 2021年5 月 ，该公司已在 上 交 所上市。 曾几何时，一句"累了困了，喝东鹏特饮" 响彻街头巷尾。 作为东鹏饮料的主力产品， 2023年 ，东 鹏特饮 的年 销售 收入 突破 100 亿 元。 2024年，达到133亿元。 如今，这家把能量饮料带到蓝领 人群中的饮料企业，正凭借能量饮料和 茶饮料 畅销全国、走到海外。 本次IPO，东鹏饮料的发行价为每股248港元，全球发行4088.99万股H股，募资规模达101亿港元。 截至发稿，市值1388亿港元。 更值得关注的是其基石投资者阵容——东鹏饮料已与15家基石投资者达成承诺认购 协议 ,其中包括卡 塔尔投资局(QIA)、淡马锡、摩根大通资产管理、瑞 银资产 管理、贝莱德、富达、兰馨亚洲、保银 (Pinpoint)、红杉中国、嘉里集团、盈科拓展集团等 顶级机构 。这些基石投资者已经提前累计认购 ...

Investment Rating - The report maintains an "Outperform the Market" rating for the food and beverage sector [4][5]. Core Views - The food and beverage sector is expected to perform well in 2026, with a focus on four main investment themes: cost advantages, efficiency improvements, innovation-driven growth, and opportunities for recovery in distressed segments [3][10]. - The report highlights the increasing bottom signals in the liquor market, particularly for baijiu, and emphasizes the importance of sales performance during the Spring Festival [2][10]. Summary by Relevant Sections Liquor - Baijiu prices, particularly for Moutai, are stable with a slight increase, and attention is drawn to the sales rhythm during the Spring Festival. The report recommends Moutai, Shanxi Fenjiu, and Luzhou Laojiao as top picks, while also suggesting to monitor other brands like Gujing Gongjiu and Wuliangye [2][10]. - The report anticipates a continued trend of small liquor companies exiting the market, with a projected production decline of 12.1% for baijiu in 2025 [10]. Beer - The beer industry is experiencing healthy inventory levels, with expectations for demand recovery. The report recommends Yanjing Beer and China Resources Beer as key players to watch [11][10]. Snacks - The report emphasizes the importance of strong alpha stocks in the snack sector, particularly focusing on konjac snacks, with companies like Weilong and Yanjinpuzi showing strong product innovation and competitive advantages [12][10]. Food Supply Chain - The food supply chain is entering a peak season for stocking and sales, with a focus on pre-prepared dishes. The report recommends leading companies like Yihai International and Haitian Flavoring, as well as companies that are expanding their channels like Qianwei Yangchun [13][14]. Dairy Products - The report suggests a cautious outlook for dairy companies due to competitive pressures, but highlights the potential for recovery in 2026, particularly for leading companies like Yili [14][10]. Beverages - The beverage sector is currently in a de-stocking phase, with stable preparations for the Spring Festival. The report continues to recommend companies like Nongfu Spring and Dongpeng Beverage, which are accelerating their national expansion [15][10].

北京商报讯（记者 孔文燮）2月3日，东鹏饮料在港交所挂牌上市，形成"A+H"的格局。东鹏饮料此次 发行价为 248 港元/股，发行 4089 万股，募资总额约 101 亿港元。财报显示，2025 年度，东鹏饮料预 计实现归母净利润 43.4 亿至 45.9 亿元，同比增长 30.46% 至 37.97%。 ...

雷递网 雷建平 2月3日 东鹏饮料（集团）股份有限公司（简称："东鹏饮料"，股票代码："09980"）今日在港交所上市。 东鹏饮料此次发行价为248港元，发行4089万股，募资总额为101亿港元，扣除发行应付上市费用1.46亿 港元，募资净额为99.94亿港元。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：雷递 东鹏饮料基石投资者一共认购6.4亿美元（约49.9亿港元），分别为Al-Rayyan、太白投资有限公司、 True Light Investments、BlackRock基金、UBS Asset Management、Huang River Investment、红杉旗下 HSG Growth VII Holdco、JPMorgan Asset Management、博裕资本旗下Azure Skylines、泰康人寿保险有 限责任公司、Pacific Century Pines Investments 1、FMR参与基金、Velmar Company、保银资产管理有限 公司、Amazing Mountain、Great China Motivation Fund P ...

智通财经APP获悉，东鹏饮料(09980)首挂上市，公告显示，每股定价248港元，共发行4088.99万股份， 每手100股，所得款项净额约99.94亿港元。截至发稿，无涨跌，报248港元，成交额4.2亿港元。 公司已建立起覆盖全国的立体化销售网络，截至2025年9月30日，覆盖全国超过430万家终端销售网点， 实现中国近100%地级市覆盖。公司的销售团队与经销伙伴紧密合作，持续提升产品铺市率和优化产品 陈列以增加可见度及渗透率。公司持续拓展全渠道销售网络，满足消费者在多样化场景下的日常消费需 求。 公开资料显示，东鹏饮料是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，市 场份额从2021年的15.0%增长到2024年的26.3%。按零售额计，公司是2024年第二大功能饮料公司，市 场份额为23%。 ...

Group 1 - The core viewpoint of the news is that Yangyuan Beverage experienced a decline in stock price and trading volume, with a notable increase in financing activities, indicating potential investor interest despite recent financial performance challenges [1][2]. Group 2 - On February 2, Yangyuan Beverage's stock fell by 5.78%, with a trading volume of 358 million yuan. The financing buy-in amount for the day was 21.84 million yuan, while the financing repayment was 17.98 million yuan, resulting in a net financing buy of 3.86 million yuan [1]. - As of February 2, the total balance of margin trading for Yangyuan Beverage was 320 million yuan, with a financing balance of 313 million yuan, accounting for 0.83% of the circulating market value, which is above the 90th percentile of the past year [1]. - In terms of securities lending, on February 2, Yangyuan Beverage repaid 4,100 shares and sold 500 shares, with a selling amount of 14,900 yuan. The remaining securities lending volume was 20,930 shares, with a balance of 6.25 million yuan, exceeding the 70th percentile of the past year [1]. Group 3 - As of September 30, the number of shareholders for Yangyuan Beverage reached 32,800, an increase of 86.19% compared to the previous period. The average circulating shares per person decreased by 46.29% to 38,466 shares [2]. - For the period from January to September 2025, Yangyuan Beverage reported a revenue of 3.905 billion yuan, a year-on-year decrease of 7.64%, and a net profit attributable to shareholders of 1.119 billion yuan, down 8.95% year-on-year [2]. - Since its A-share listing, Yangyuan Beverage has distributed a total of 16.462 billion yuan in dividends, with 6.645 billion yuan distributed over the past three years [2].

事件二：公司确定本次H 股发行的最终价格为每股248 港元（不包括1％经纪佣金、0.0027％香港证券及 期货事务监察委员会交易征费、0.00565％香港联交所交易费及 0.00015％香港会计及财务汇报局交易征 费），预计2026年2 月3 日在香港联交所挂牌上市。 盈利预测：通过港股上市以及与三林集团签署战略合作协议，公司有望加速推进全球化进程，打开海外 增长空间，进一步发挥规模化及产业链优势。我们预计2025-2027 年公司实现营业收入211/265/319 亿元 （ 同比+33%/+26%/+20% ）， 实现归母净利润45/58/70 亿元（ 同比+35%/+28%/+22%），对应PE 分别 为29X/23X/19X，维持"买入"评级。 事件一：1 月30 日，东鹏饮料集团与印尼华商巨头三林集团正式签署战略合作协议，双方将共同投资印 度尼西亚东鹏维生素饮料公司，负责在印尼建设生产基地及开展产品销售业务，项目总投资预计3 亿美 元。 H 股发行锚向海外，东南亚市场初具雏形。公司H 股招股说明书明确12%募集资金将用于拓展海外市场 业务，目前公司产品已出口至25个国家和地区，已在印度尼西亚、越南、马 ...

Core Insights - The article discusses significant developments in the industry, highlighting key trends and potential investment opportunities [1] Group 1 - The industry is experiencing a notable shift towards digital transformation, with companies increasingly adopting advanced technologies to enhance operational efficiency [1] - Recent financial reports indicate a substantial increase in revenue for leading firms, with an average growth rate of 15% year-over-year [1] - Market analysts predict that the sector will continue to expand, with an estimated market size reaching $500 billion by 2025 [1] Group 2 - Regulatory changes are impacting the competitive landscape, prompting companies to adapt their strategies to comply with new standards [1] - Consumer preferences are shifting towards sustainable products, leading firms to innovate and develop eco-friendly solutions [1] - Investment in research and development is on the rise, with companies allocating approximately 10% of their revenue to R&D initiatives [1]

格隆汇2月2日丨东鹏饮料(09980.HK)公告，公司全球发售4088.99万股H股，每股发售股份248.00港元， 募集资金净额99.94亿港元。香港公开发售股份数目占全球发售股份数目10.00%，获认购57.46倍；国际 发售股份数目占全球发售股份90.00%，获认购15.60倍。假设全球发售于2026年2月3日上午八时正(香港 时间)或前成为无条件，预期H股将于2026年2月3日上午九时正(香港时间)在联交所开始买卖。H股将以 每手100股H股为买卖单位，H股的股份代号为09980。 ...