智通财经1月26日讯 利弗莫尔证券数据显示，今日港股新股资讯包括： 今起申购： 东鹏饮料(09980.HK) 2026年1月26日至2026年1月29日招股，该公司拟全球发售4088.99万股，其中香港发售占10%，国际发 售占90%，另有15%超额配股权，发售价将不高于每股发售股份248.00港元。每手100股，预期股份将于 2026年2月3日在联交所开始买卖。 有绿鞋机制，金额约15.21亿港元。 公司简介 东鹏饮料（集团）股份有限公司是中国功能饮料市场的领导者，以销量计，公司自2021年以来连续四年 稳居全国功能饮料产品首位。历经30余年深耕，公司持续为消费者提供高质价比的饮料产品，成功塑造 了备受消费者喜爱、拥有国民级影响力的"东鹏"品牌。 东鹏饮料AH股对比（更新至2026年01月26日 08:00） A股：最新价：253.36元/股，根据中国香港银行实时汇率计算得283.21港币/股；总市值：1,317.50亿元 H股：最高价：248.00港币/股；最高总市值：1663.93亿港币。 价格对比：A股比H股高35.21港币，即AH溢价率：+14.20%，HA折价率：-12.43% 保荐人分析 华泰金 ...

Group 1 - The company plans to globally offer 40.89 million shares, with 4.09 million shares available in Hong Kong and 36.80 million shares for international sale, along with an over-allotment option of 6.13 million shares [1] - The subscription period is set from January 26 to January 29, with a maximum offer price of HKD 248.00 per share, and an entry fee of approximately HKD 25,050.11 for 100 shares [1] - The total expected fundraising amount is HKD 10.141 billion, with a net amount of HKD 9.994 billion, aimed at enhancing capacity layout, supply chain upgrades, brand building, consumer interaction, and exploring overseas market opportunities over the next three to five years [1] Group 2 - The company has introduced cornerstone investors including Great China Motivation Fund Phase II L.P., Fidelity Emerging Markets Discovery Fund, and BlackRock, Inc., who will subscribe to approximately 20.12 million shares at the offer price [2] - The company is expected to be listed on the main board on February 3, 2026, with Huatai Financial Holdings (Hong Kong) Limited, Morgan Stanley Asia Limited, and UBS Securities Hong Kong Limited acting as joint sponsors [2] Group 3 - The company's main business includes the sale and technical consulting of food machinery and packaging materials, e-commerce platform technology development, and various IT services [3] - The company is involved in the wholesale of pre-packaged food and health food, as well as the production and sale of beverages, including non-alcoholic drinks and bottled water [3] Group 4 - The company's net profits for the fiscal years 2023, 2024, and the first three quarters of 2025 (ending September 30) are projected to be CNY 2.04 billion, CNY 3.33 billion, and CNY 3.76 billion, reflecting year-on-year growth rates of 41.60%, 63.09%, and 38.91% respectively [4]

Market Performance - The Shanghai Composite Index rose by 0.33% to 4136.16 points, while the Shenzhen Component increased by 0.79% and the ChiNext Index gained 0.63%[1] - The Hang Seng Index closed up 0.45% at 26749.51 points, with the Hang Seng Tech Index rising 0.62% and the Hang Seng China Enterprises Index increasing by 0.51%[1] - The total market turnover in Hong Kong was 240.9 billion HKD[1] Currency and Trade Tensions - The Japanese yen rebounded strongly, nearing the 160 mark against the USD, marking its largest single-day gain since August of the previous year[8] - U.S. President Trump threatened to impose a 100% tariff on all Canadian exports to the U.S. if Canada reaches a trade agreement with China[8] ETF and Market Sentiment - Continuous outflows from broad-based ETFs in China have raised concerns about potential reductions in state-owned fund holdings, leading to increased interest in small-cap stocks[12] - From January 15 to 22, approximately 67.5 billion USD was sold off from 14 ETF products by the central government, indicating a significant market impact[12] Corporate Developments - Dongpeng Beverage plans to raise up to 10.141 billion HKD through an IPO, with a share price set at 248 HKD, representing a 12.5% discount compared to its A-share price[10] - BYD aims for overseas sales of 1.3 million vehicles in 2026, a nearly 24% increase from last year's 1.05 million deliveries[14]

Market Overview - The Hang Seng Index (HSI) faces short-term resistance at 27,188 points, with expectations of two interest rate cuts in 2026 following the Federal Reserve's recent rate reduction of 0.25% [1] - The market anticipates increased monetary policy support from mainland China in early 2026, focusing on expanding domestic demand and achieving technological self-reliance [1] - Recent adjustments in financing margin ratios by the Shanghai and Shenzhen stock exchanges may lead to short-term market corrections, affecting the inflow of foreign capital into Hong Kong stocks [1] Sector Focus - The macroeconomic outlook indicates that China is reportedly considering tightening IPO standards for mainland companies seeking to list in Hong Kong, although this has been denied by local media [2][6] - Companies such as BYD have set ambitious overseas sales targets, aiming for 1.3 million vehicles this year, while China’s beverage manufacturer Dongpeng is looking to raise up to 10.1 billion RMB through its IPO [2] - The banking sector shows a slight profit increase for China Merchants Bank, reporting a 1.21% rise in net profit to 150.181 billion RMB [2] Economic Indicators - The U.S. Federal Reserve has adjusted its GDP growth forecast for 2026 to 2.3%, while inflation expectations have been slightly lowered to 2.4% [2] - The Chinese Ministry of Commerce reported a 20.5% increase in online retail sales of mobile phones and an 18% increase for smart robots in 2025 [6] - Foreign Direct Investment (FDI) in mainland China fell by 9.5% year-on-year in 2025, marking the lowest level since 2014, despite a 19.1% increase in the number of newly established foreign-invested enterprises [6] Company Performance - The insurance sector in Hong Kong saw a significant increase in gross premiums, totaling 637 billion HKD, a rise of 32.5% in the first three quarters of 2025 [7] - The performance of major tech companies like Tencent and Alibaba has shown mixed results, with Alibaba's stock price declining by 2.23% [3][4] - The recent price adjustments for Apple’s iPhone Air in mainland China indicate a significant discount of approximately 30% within three months of its launch [6] Global Market Trends - The U.S. stock market showed mixed results, with the Dow Jones falling by 0.6% while the S&P 500 and Nasdaq experienced slight gains [4] - The Japanese economy is projected to continue its moderate recovery, with the Bank of Japan maintaining its interest rate at 0.75% while adjusting growth and inflation forecasts [8] - The European Union has extended the suspension of retaliatory trade measures against the U.S. for an additional six months, reflecting ongoing trade negotiations [8]

Core Viewpoint - The coconut water industry is currently in a growth phase, with increasing competition. IF, as an industry leader, has a first-mover advantage and is actively expanding its domestic brand and channel presence. The company is expected to benefit from industry standardization and maintain its market share [1]. Group 1: Financial Performance - In H2 2025, the company's overall performance is under pressure due to exchange rate fluctuations and increased costs. The main brand IF's revenue growth has slowed compared to the first half of the year, while the innococo brand faced a significant decline due to supply chain disruptions [2]. - The gross margin is expected to decline in H2 2025 due to the appreciation of the Thai baht against the US dollar, and increased marketing expenses from new endorsements and promotional activities are impacting profits [2]. - For 2026, the company anticipates a return to high revenue growth, driven by the strong brand recognition of IF and the recovery of the innococo supply chain. Collaborations with major distributors are expected to enhance product penetration [2]. Group 2: Market Strategy - The company is focusing on strengthening brand education and increasing consumer awareness of its products' natural attributes through targeted marketing on platforms like Xiaohongshu. It is also advocating for industry standards to eliminate low-quality brands, which could increase market concentration [3]. - The company has established a China office in Shanghai and formed a dedicated team for market maintenance and channel expansion, with plans to continue developing domestic channels. It is currently collaborating with seven contract manufacturers, including General Beverage, and is considering domestic production to optimize its supply chain [3].

东鹏饮料（605499）(09980.HK)发布公告，公司拟全球发售4088.99万股股份，其中香港发售股份408.90 万股，国际发售股份3680.09万股，另有613.34万股超额配股权。招股日期为1月26日至1月29日，最高发 售价248.00港元，每手买卖单位100股，入场费约25050.11港元。 全球发售预计募资总额为101.41亿港元，募资净额99.94亿港元，募资用途为用于未来三到五年内完善产 能佈局和推进供应链升级；用于未来三到五年内加强品牌建设和消费者互动；用于未来三到五年内拓展 海外市场业务，探索潜在投资及併购机会；用于未来三到五年内持续推进全国化战略，拓展、深耕和精 细化运营渠道网络；用于未来三到五年内加强各个业务环节的数字化建设；用于营运资金及一般企业用 途；用于未来三到五年内增强公司的产品开发能力，持续实现产品品类拓展。 公司引入Great China Motivation Fund Phase II L.P.、Fidelity Emerging Markets Discovery Fund及Fidelity Emerging Markets Value Advance Equit ...

Core Viewpoint - Dongpeng Beverage is experiencing significant growth in performance and is continuing its dual-line expansion both domestically and internationally [1] Group 1: Expansion and Investment - Dongpeng Beverage announced plans to build a new production base in Chengdu with a total investment of 1.1 billion yuan [2] - The Chengdu production base will be the company's 14th production facility in China, enhancing its supply capacity in the southwest region [3][5] - The project will include six high-end beverage production lines and is expected to be completed within 40 months [4] Group 2: Financial Performance - Dongpeng Beverage forecasts a revenue of 20.76 billion to 21.12 billion yuan for 2025, representing a year-on-year growth of 31.07% to 33.34% [3][7] - The company expects a net profit attributable to shareholders of 4.34 billion to 4.59 billion yuan for 2025, an increase of 30.46% to 37.97% compared to the previous year [7] - The company achieved a revenue of 11.263 billion yuan in 2023, marking a significant milestone as it crossed the 10 billion yuan mark in just two years [8] Group 3: International Expansion - Dongpeng Beverage is preparing for an IPO in Hong Kong, with part of the raised funds allocated for building supply chain infrastructure in Southeast Asia [3][9] - The company plans to invest 200 million USD in Indonesia to establish a production base, using Hainan as a hub for exports to Southeast Asia [10] - As of 2025, Dongpeng's overseas revenue is still in the early stages, accounting for only 0.14% of total revenue [8]

Core Viewpoint - Dongpeng Beverage (09980) is set to launch an IPO from January 26 to January 29, 2026, aiming to issue 40.89 million shares globally, with a maximum price of HKD 248.00 per share, establishing itself as a leading player in the functional beverage market in China [1][5]. Group 1: Company Overview - Dongpeng Beverage is the number one functional beverage company in China, with the fastest revenue growth among the top 20 listed soft drink companies globally [1]. - The company has maintained its leading position in the Chinese functional beverage market for four consecutive years since 2021, increasing its market share from 15.0% in 2021 to 26.3% in 2024 [1]. - The company has a strong brand presence, recognized for providing high-quality and cost-effective beverage products, solidifying its national influence [1]. Group 2: Sales and Distribution Network - The company has established a comprehensive sales network covering over 4.3 million terminal sales points across nearly 100% of China's prefecture-level cities as of September 30, 2025 [2]. - A dedicated sales team of over 7,500 works closely with distribution partners to enhance product visibility and penetration in the market [2]. - The company employs a refined channel management strategy to improve market penetration and sales efficiency [2]. Group 3: Digitalization and Innovation - Dongpeng Beverage is at the forefront of digitalization in the beverage industry, utilizing a unique "one code for one product" system for precise product traceability [3]. - The company has built an integrated digital operation system that enhances decision-making accuracy and drives sales growth [3]. - As of September 30, 2025, the company has connected with over 280 million consumers and interacted efficiently with over 4.3 million sales points [3]. Group 4: Investment and Fund Utilization - The cornerstone investors have agreed to subscribe for shares worth approximately USD 640 million, contingent upon certain conditions [4]. - The estimated net proceeds from the global offering are approximately HKD 9.994 billion, which will be allocated to various strategic initiatives [5]. - The company plans to use about 36.0% of the net proceeds for capacity expansion and supply chain upgrades, 15.0% for brand building, and 12.0% for exploring overseas market opportunities [5].

Core Viewpoint - Dongpeng Beverage (09980.HK) is launching a global offering of 40.89 million H-shares, with a maximum offer price of HKD 248.00 per share, aiming to strengthen its market position as the leading functional beverage company in China [1][4]. Group 1: Company Overview - Dongpeng Beverage is recognized as China's top functional beverage enterprise, with the highest revenue growth among the top 20 listed soft drink companies globally [1]. - The company has maintained the number one position in the Chinese functional beverage market for four consecutive years since 2021, increasing its market share from 15.0% in 2021 to 26.3% in 2024 [1]. - By retail revenue, Dongpeng is projected to be the second-largest functional beverage company in 2024, holding a market share of 23.0% [1]. Group 2: Sales and Distribution Network - The company has established a comprehensive sales network covering over 4.3 million terminal sales points across China, achieving nearly 100% coverage of prefecture-level cities by September 30, 2025 [2]. - A strong sales team of over 7,500 members collaborates closely with distribution partners to enhance product visibility and penetration [2]. - The company employs a refined channel management strategy to improve market penetration and sales efficiency [2]. Group 3: Investment and Fundraising - The cornerstone investors have agreed to subscribe for shares amounting to approximately USD 640 million (around HKD 4.99 billion), with a total of 20.12 million shares expected to be purchased at the maximum offer price [3]. - The estimated net proceeds from the global offering, assuming no exercise of the over-allotment option, will be approximately HKD 9.9943 billion [4]. - The funds raised will be allocated for various strategic purposes, including 36.0% for capacity enhancement and supply chain upgrades, 15.0% for brand building, and 12.0% for expanding overseas market operations [4].

Core Viewpoint - Dongpeng Beverage (09980.HK) plans to globally offer 40.89 million H-shares, with a maximum offer price of HKD 248.00 per share [1] Group 1: Offering Details - The company will offer 4.0899 million shares in Hong Kong and 36.8009 million shares internationally, subject to reallocation and the exercise of the over-allotment option [1] - The subscription period for the shares is from January 26 to January 29, 2026, with the expected pricing date on January 30, 2026 [1] - The H-shares are expected to commence trading on the Hong Kong Stock Exchange on February 3, 2026 [1] Group 2: Underwriters - Huatai International, Morgan Stanley, and UBS Group are acting as joint sponsors for the offering [1]