其中，香港公开发售获57.46倍认购，国际发售获15.6倍认购。 东鹏饮料（605499）(09980)公布配发结果，公司全球发售4088.99万股股份(于超额配股权获行使前)， 香港公开发售占10%，国际发售占90%。最终发售价每股248港元，全球发售净筹约99.943亿港元。每手 100股，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。 ...

其中，香港公开发售获57.46倍认购，国际发售获15.6倍认购。 智通财经APP讯，东鹏饮料(09980)公布配发结果，公司全球发售4088.99万股股份(于超额配股权获行使 前) ，香港公开发售占10%，国际发售占90%。最终发售价每股248港元，全球发售净筹约99.943亿港 元。每手100股，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。 ...

中国能量饮料制造商东鹏饮料(9980.HK)明日挂牌，今日在富途的暗盘价收跌0.08%，报247.8港元。该 股发售4088.99万股H股，香港公开发售占10%，其余为国际配售，每股招股价将不高于248港元，集资 最多101.41亿港元。 | 09980 东鹏饮料 | | | | --- | --- | --- | | 247.800 ↓ -0.200 -0.08% | | 暗盘已收盘 02/02 18:29 | | * % 12 月 ♥ 白选 | | 快捷交易 | | 最高价 254.000 | 开盘价 250.200 | 成交量 39.68万 | | 最低价 240.200 | 昨收价 248.000 | 成交额 9801.5万 | | 平均价 247.013 | 市盈率 TM 28.33 总市值 1389.92亿 (m) | | | 振 幅 5.57% | 市空室(静) 37.30 | 总股本 5.61亿 | | 换手率 0.97% 市净率 14.104 | | 流通值 101.33亿(i) | | 52周最高 254.000 委 比 -75.29% | | 流通股 4088.99万 | | 52周最低 ...

业内人士分析，此举标志着其进入港股IPO冲刺阶段，更意味着这家A股"功能饮料第一股"将完 成"A+H"双资本布局。东鹏饮料此次港股冲刺的核心底气，源于2025年在产品与产能领域的扎实积淀， 多品类破局与全国化产能落地，共同筑牢了企业全球化的根基。 现如今，东鹏饮料成功培育出第二增长曲线，电解质饮料"东鹏补水啦"异军突起，成为公司拉动业绩增 长的重要力量。同时，公司持续优化产品矩阵，推出多规格产品精准覆盖多元场景，展现出成长为百亿 单品的巨大潜力。 目前，东鹏饮料全国化产能布局，已形成高密度、均衡化生产网络。近年来，东鹏饮料平均每年新增2 个生产基地，目前已有10个基地顺利投产。2026年1月23日，成都生产基地项目正式签约，总占地约280 亩、计划投资10亿元建设6条高端生产线，建成后将成为现代化综合基地，大幅提升西南及全国供应能 力。 亮眼的业绩表现、深度的数字化转型与完善的渠道网络，共同构成东鹏饮料的核心竞争力。2025年，东 鹏饮料交出惊艳答卷，预计全年营业收入207.6亿—211.2亿元，同比增长31.07%—33.34%；预计归母净 利润43.4亿—45.9亿元，同比增幅达30.46%—37.97% ...

Market Overview - On February 2, 2026, the Shanghai Composite Index fell by 2.48%, with the CSI 300 down by 2.13%, the STAR Market 50 down by 3.88%, the CSI 1000 down by 3.39%, the ChiNext Index down by 2.46%, and the Hang Seng Index down by 2.23% [5][4] - The best-performing sectors on February 2 were food and beverage (+1.11%) and banking (+0.17%), while the worst-performing sectors included non-ferrous metals (-7.62%), steel (-5.93%), basic chemicals (-5.69%), coal (-5.64%), and oil and petrochemicals (-5.51%) [5][4] - The total trading volume for the A-share market on February 2 was 26,066 billion yuan, with net inflow of southbound funds amounting to 1.907 billion HKD [5][4] Important Recommendations - The report highlights Dongpeng Beverage (605499) as a leading player in the energy drink sector, with clear growth drivers for 2026, including stable growth in specialty drinks, new product launches, and channel deepening [6][6] - The company is expected to achieve a revenue growth rate of 15%-20% in 2026, driven by its core specialty drink products and strong brand positioning [6][7] - Revenue projections for Dongpeng Beverage are estimated at 20,948.13 million yuan for 2025, 26,103.01 million yuan for 2026, and 31,763.13 million yuan for 2027, with corresponding net profit estimates of 4,509.80 million yuan, 5,750.23 million yuan, and 7,141.71 million yuan [6][7] Important Insights - The report discusses the implications of the EU's antitrust actions against Booking, which has seen its market share increase from approximately 60% in 2013 to over 71% in 2023, despite regulatory changes [9][10] - Investment opportunities are identified in Booking's strong market position and its shift towards a merchant model, while competitors like Expedia and Airbnb are adapting their strategies to maintain market relevance [10][10] - Catalysts for growth include the transition to a merchant model, leveraging Google advertising for traffic acquisition, and utilizing membership programs to enhance customer engagement [10][10]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company is positioned as a leading player in the domestic energy drink market, with stable growth in specialty drinks, new product launches, and channel deepening driving performance beyond expectations [1][2] Summary by Sections Industry Dimension - The functional beverage sector is experiencing high growth potential, with energy drinks expected to maintain a CAGR of over 10% from 2025 to 2029 [22][15] - The energy drink market is projected to reach a retail value of 122.2 billion yuan in 2025, growing by 9.7% year-on-year [22] - The sports drink segment is also on a growth trajectory, with an expected CAGR of 12.2% from 2025 to 2029, reaching 629 billion yuan in 2025 [26] Channel Dimension - The company has expanded its terminal network to over 4.3 million points of sale, enhancing product availability and consumer reach [48] - The deployment of ice cabinets has been increased to optimize product display and stimulate immediate consumption, with an expected 100,000 cabinets in the next 3-5 years [48][49] - Digital supply chain systems are utilized to maintain high turnover rates and enhance sales efficiency across channels [53] Product Dimension - The company's "1+6" product strategy is clear, with energy drinks providing a stable revenue base and new categories like sugar-free tea and instant coffee expected to contribute to future growth [57][61] - The energy drink segment is anticipated to grow by 15%-20% in 2026, supported by strong market penetration and brand loyalty [57] - The company has established a strong brand presence in the hydration segment, with significant market share in key regions and ongoing expansion opportunities [59][60] Financial Forecast and Valuation - Revenue projections for 2025-2027 are 20.95 billion, 26.10 billion, and 31.76 billion yuan, with year-on-year growth rates of 32.3%, 24.6%, and 21.7% respectively [5][10] - Net profit estimates for the same period are 4.50 billion, 5.75 billion, and 7.14 billion yuan, with growth rates of 35.6%, 27.5%, and 24.2% [5][10] - The company is valued at a PE ratio of 30x for 2026, suggesting a market capitalization of 172.5 billion yuan, indicating a potential upside of around 30% [5]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Viewpoints - The company is positioned as a leading player in the domestic energy drink market, with stable growth in specialty drinks, new product launches, and channel deepening driving performance beyond expectations [1][2] Summary by Relevant Sections Industry Dimension - The functional beverage sector is experiencing high growth potential, with energy drinks expected to maintain a CAGR of over 10% from 2025 to 2029 [22] - The energy drink market is projected to reach a retail value of 122.2 billion yuan in 2025, growing by 9.7% year-on-year [22] - The sports drink segment is also on a growth trajectory, with an expected CAGR of 12.2% from 2025 to 2029, reaching 997 billion yuan [26] Channel Dimension - The company has expanded its sales network to over 4.3 million points of sale, with ongoing efforts to penetrate both domestic and provincial markets [3][48] - The deployment of ice cabinets has been a key strategy to enhance product visibility and stimulate immediate consumption, with an expected increase in the number of ice cabinets to 100,000 within 3-5 years [48][49] - Digital supply chain systems are utilized to maintain high turnover rates and optimize promotional strategies across channels [53] Product Dimension - The company's "1+6" product strategy is clear, with energy drinks providing a stable revenue base and new categories like sugar-free tea and ready-to-drink coffee expected to contribute to future growth [57][61] - The energy drink segment is anticipated to grow by 15%-20% in 2026, supported by strong market presence and competitive pricing [57] - The company has established a strong brand presence in the hydration segment, with significant market share in key regions and ongoing expansion opportunities [59][60] Financial Forecast and Valuation - Revenue projections for 2025-2027 are 20.95 billion, 26.10 billion, and 31.76 billion yuan, with year-on-year growth rates of 32.3%, 24.6%, and 21.7% respectively [5][10] - Net profit estimates for the same period are 4.5 billion, 5.75 billion, and 7.14 billion yuan, with growth rates of 35.6%, 27.5%, and 24.2% respectively [5][10] - The company is valued at a PE ratio of 30x for 2026, suggesting a market capitalization of 172.5 billion yuan, indicating a potential upside of around 30% [5]

Core Insights - Eastroc Beverage is set to launch its global offering on the Hong Kong Stock Exchange on January 26, 2026, with a plan to issue 40,889,900 H-shares at a maximum price of 248 HKD, marking a significant step in its "A+H" dual capital layout and reflecting global recognition of China's functional beverage sector [1][3] Group 1: Financial Performance - Eastroc Beverage's flagship product, Eastroc Special Drink, has shown robust performance, with its market share in China's functional beverage sector increasing from 15.0% in 2021 to 26.3% in 2024, maintaining the top position in energy drink sales for four consecutive years [3] - For the first three quarters of 2025, Eastroc Special Drink generated revenue of 12.563 billion CNY, representing a nearly 20% year-on-year growth, showcasing the strong resilience of its core product [3] - The company anticipates a total revenue of 20.76 to 21.12 billion CNY for 2025, reflecting a year-on-year growth of 31.07% to 33.34%, and a net profit of 4.34 to 4.59 billion CNY, with a growth rate of 30.46% to 37.97%, marking its entry into the 20 billion CNY revenue club [6] Group 2: Product Development - Eastroc Beverage has successfully cultivated a second growth curve with its electrolyte drink, "Eastroc Water," which became the top brand in China's electrolyte beverage market within just over two years of its launch in January 2023, achieving revenue of 1.493 billion CNY in the first half of 2025 [3] - The revenue for "Eastroc Water" further increased to 2.847 billion CNY in the first three quarters of 2025, a year-on-year growth of 134.78%, with its contribution to total revenue rising from 9.66% to 16.91% [3] Group 3: Production Capacity and Network - Eastroc Beverage has established a nationwide production network, currently operating 10 production bases, with plans to invest 1 billion CNY in a new facility in Chengdu, which will significantly enhance supply capabilities in Southwest China and nationwide [5] - The company has developed a comprehensive sales network covering nearly 100% of China's prefecture-level cities, with over 3,200 distributors and 4.3 million active retail points, reaching more than 250 million unique consumers [7] Group 4: Digital Transformation and Strategy - The company has been deepening its digital transformation since 2015, integrating digital capabilities into core operations, which has improved operational efficiency and market responsiveness [6] - Eastroc Beverage's strategic focus on multi-category development, production capacity expansion, and digital channel empowerment has laid a solid foundation for its upcoming IPO and global expansion [7]

Group 1 - The core viewpoint of the report is that Daiwa has downgraded the rating of Uni-President China from "Outperform" to "Underperform" and reduced the target price from HKD 9.8 to HKD 7.3 [1] - The report highlights increasing competition from fresh and bottled beverage manufacturers, which is expected to intensify [1] - The beverage business may face cost pressures due to increased channel investments [1] Group 2 - Daiwa forecasts that Uni-President China's profit for Q4 2025 will decline by 38% year-on-year to HKD 133 million [1] - The earnings per share forecast for the years 2025 to 2027 has been lowered by 4% to HKD 14 [1]

2月2日，养元饮品跌5.08%，截至发稿，报30.06元/股，成交2.42亿元，换手率0.62%，总市值378.84亿 元。 资料显示，河北养元智汇饮品股份有限公司位于河北省衡水市经济开发区北区新区六路南,滏阳四路以 西，成立日期1997年9月24日，上市日期2018年2月12日，公司主营业务涉及核桃仁为原料的植物蛋白饮 料的研发、生产和销售。 长信易进混合A（003126）成立日期2016年12月23日，最新规模1465.34万。今年以来收益0.89%，同类 排名7773/9000；近一年收益6.8%，同类排名6981/8193；成立以来收益39.16%。 长信易进混合A（003126）基金经理为冯彬。 截至发稿，冯彬累计任职时间13年85天，现任基金资产总规模72.22亿元，任职期间最佳基金回报 40.4%， 任职期间最差基金回报0.48%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 从基金十大重仓股角 ...