"未来三年，东鹏必须培育发展出第二增长曲线"，东鹏饮料创始人林木勤三年前的一番雄心壮志，或将 率先在资本市场实现。1月14日，港交所披露东鹏饮料聆讯后资料集，这也意味着，东鹏饮料通过港交 所聆讯，距离"A+H"双平台上市仅一步之遥。 2022年6月，东鹏饮料曾考虑过发行全球存托凭证并申请于瑞士证券交易所上市的可能性。然而，这一 筹划于2024年2月终止，原因是考虑到外部资本市场环境，以及公司当时集中时间与资源拓展销售网 络、提升品牌知名度与形象的战略。 此后，东鹏饮料调整了上市策略，将重点转向同样面向国际资本市场的港交所。2025年4月和10月，东 鹏饮料两次提交港交所主板上市申请。通过港交所聆讯，也就意味着半只脚踏入港交所大门。 聆讯后资料集显示，部分募集资金将用于在海外重点市场建立包括仓储在内的供应链基础设施，以满足 这些地区（例如印度尼西亚、越南和马来西亚等东南亚国家）的高速增长需求，并最终实现本地化运 营。可能会有选择性地向产业链上游延展，深化合作伙伴关系，通过本地采购原材料，支持海外业务发 展。截至2025年9月30日，东鹏饮料的产品已进入多个海外市场，包括越南和马来西亚。 最新的公开信息显示，东鹏 ...

Company Overview - Dongpeng Beverage Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS serving as joint sponsors [1] - Dongpeng Beverage is recognized as the leading functional beverage company in China, with the fastest revenue growth among the top 20 listed soft drink companies globally [3] Market Position - Dongpeng Beverage 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 [3] - By retail value, Dongpeng Beverage is projected to be the second-largest functional beverage company in 2024, holding a market share of 23.0% [3] Financial Performance - The company's revenue for the fiscal years 2022, 2023, 2024, and the first half of 2025 was approximately RMB 8.5 billion, RMB 11.26 billion, RMB 15.83 billion, and RMB 10.73 billion respectively [5][6] - The total comprehensive income for the same periods was approximately RMB 1.43 billion, RMB 2.06 billion, RMB 3.36 billion, and RMB 2.35 billion [6] Industry Insights - The retail value of China's soft drink industry is expected to reach approximately RMB 1.3 trillion in 2024, making it the second-largest soft drink market globally [5] - The functional beverage segment is the fastest-growing sector, 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 [5] Operational Strategy - Dongpeng Beverage employs a refined channel management strategy and a unique "product + service" model, supported by a sales team of over 7,000 [4] - The company has established a comprehensive digital operation system that enhances sales growth, decision-making accuracy, and cost efficiency, connecting with over 250 million consumers and more than 4.2 million retail outlets [4]