香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Eastroc Beverage (Group) Co., Ltd. 東鵬飲料（集團）股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：09980） 海外監管公告 本公告乃東鵬飲料（集團）股份有限公司（「本公司」）根據香港聯合交易所有限 公司證券上市規則第13.10B條刊發。 茲載列本公司在上海證券交易所網站刊登的以下資料中文全文，僅供參閱。 承董事會命 東鵬飲料（集團）股份有限公司 董事長、執行董事兼總裁 林木勤 香港，2026年3月30日 於本公告日期，本公司董事會成員包括六名執行董事林木勤先生、林木港先生、盧義富先生、 蔣薇薇女士、張磊先生及林戴吉先生；以及四名獨立非執行董事趙亞利女士、游曉女士、李 洪斌先生及戴國良先生。 证券代码：605499 证券简称：东鹏饮料 公告编号：2026-026 东鹏饮料(集团)股份有限公司 2025 年主要经营数据的公告 本公司董事会及全体董事 ...

单位：万元 币种：人民币 证券代码：605499 证券简称：东鹏饮料 公告编号：2026-026 东鹏饮料(集团)股份有限公司 2025 年主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 东鹏饮料（集团）股份有限公司(以下简称"公司")根据上海证券交易所《上 市公司行业信息披露指引第十二号——酒制造》的有关规定，现将公司 2025 年 主要经营数据公告如下： 一、主要业务经营情况 (一) 主营业务产品类别分类情况 | 产品 | 年 2025 | | 年 2024 | | | --- | --- | --- | --- | --- | | | 收入 | 占比 | 收入 | 占比 | | 能量饮料 | 1,559,899.30 | 74.78% | 1,330,358.43 | 84.08% | | 电解质饮料 | 327,391.69 | 15.70% | 149,501.41 | 9.45% | | 其他饮料 | 198,579.28 | 9.52% | 102,316.57 | 6.47% | | 总计 ...

Core Viewpoint - The report from China Merchants Securities gives IFBH (06603) an "Accumulate" rating, citing the industry's growth phase and significant earnings recovery potential [1] Financial Performance - In 2025, the company is projected to achieve revenue of $176 million (approximately 1.27 billion RMB), a year-on-year increase of 11.9%, while the net profit attributable to shareholders is expected to be $23 million (approximately 160 million RMB), a year-on-year decrease of 31.7% [1] - For the second half of 2025, revenue is expected to be $82 million, a year-on-year decline of 4.5%, and the adjusted net profit is projected to be $84 million, a year-on-year decrease of 55.2% [1] Brand and Market Performance - The IF brand continues to grow, with revenue of $167 million in 2025, a year-on-year increase of 26.9%, while Innococo's revenue is expected to drop to $10 million, a year-on-year decline of 63.2% [2] - In the second half of 2025, IF brand revenue is projected to be $83 million, a year-on-year increase of 14.5%, while Innococo's revenue significantly declined due to internal management issues [2] - Revenue from the mainland China market is expected to be $159 million, a year-on-year increase of 9.4%, while overseas markets are projected to grow by 47.3% [2] Profitability and Cost Structure - The company's gross margin is expected to be 32.9% in 2025, a year-on-year decrease of 3.8 percentage points, primarily due to foreign exchange fluctuations and an increase in low-margin product sales [3] - Selling and distribution expenses are projected to rise to 5.0% of revenue, an increase of 1.6 percentage points, driven by higher shipping and packaging costs [3] - The net profit margin for 2025 is expected to be 12.9%, a year-on-year decrease of 8.2 percentage points [3] Industry Outlook - The coconut water industry is currently experiencing rapid expansion, with increasing competition. IF, as an industry leader, has a first-mover advantage and is actively expanding its domestic brand and channel presence [4] - The company is expected to benefit from industry standardization and maintain its market share, with revenue anticipated to return to high growth in 2026 following adjustments in the Innococo channel [4]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential upside of 15% to less than 35% [3][8]. Core Insights - The company has shown strong revenue growth, with a 34.1% year-on-year increase in revenue for the first three quarters of 2025, reaching RMB 16.84 billion, and a net profit increase of 39% to RMB 3.76 billion [8]. - The energy drink segment is a significant contributor, accounting for 79.63% of the product mix, with notable growth in electrolyte drinks, which saw a 134.8% increase in revenue [12]. - The company maintains a robust gross margin of 45.17%, benefiting from lower raw material costs, although Q3 saw a slight decline in gross margin due to the introduction of new products [12]. Summary by Sections Company Overview - The company operates in the food and beverage industry, with a current A-share price of RMB 287.01 and a market capitalization of RMB 149.25 billion [2]. Financial Performance - For Q3 2025, the company reported revenue of RMB 6.1 billion, a 30.4% increase year-on-year, and a net profit of RMB 1.39 billion, up 42% [8]. - The company’s revenue from distributors reached RMB 14.5 billion, a 32.8% increase, while online sales grew by 48.9% [12]. Future Projections - The company is expected to achieve net profits of RMB 4.45 billion, RMB 5.6 billion, and RMB 6.8 billion for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 33.8%, 25.8%, and 21.5% [12].

Core Insights - The company reported strong financial performance for the first three quarters of 2025, with revenue of 16.844 billion yuan, a year-on-year increase of 34.13%, and a net profit attributable to shareholders of 3.761 billion yuan, up 38.91% [1] - The third quarter of 2025 saw revenue of 6.107 billion yuan, reflecting a year-on-year growth of 30.36%, and a net profit of 1.386 billion yuan, which is a 41.91% increase compared to the same period last year [1] Revenue Breakdown - In Q3 2025, the revenue from energy drinks, electrolyte drinks, and other beverages was 4.203 billion yuan, 1.354 billion yuan, and 0.547 billion yuan respectively, showing year-on-year growth of 15%, 84%, and 96% [2] - Regional performance in Q3 2025 included revenue of 1.339 billion yuan from Guangdong and 0.403 billion yuan from Guangxi, with year-on-year increases of 2% and 8% respectively. Other regions such as North China and East China saw significant growth, with increases of 73% and 33% respectively [2] Profitability and Efficiency - The gross margin and net margin for Q3 2025 were 45.21% and 22.68%, showing a slight decrease in gross margin by 0.60 percentage points but an increase in net margin by 1.83 percentage points year-on-year [3] - The company has optimized operational efficiency, with sales, management, R&D, and financial expense ratios at 15.26%, 2.54%, 0.31%, and -0.16% respectively, indicating a focus on precise expense allocation as the company scales [3] Future Projections - The company forecasts revenues of 20.78 billion yuan, 25.38 billion yuan, and 30.07 billion yuan for 2025 to 2027, representing year-on-year growth rates of 31.2%, 22.1%, and 18.5% respectively. Net profit is expected to reach 4.45 billion yuan, 5.35 billion yuan, and 6.35 billion yuan, with growth rates of 33.7%, 20.2%, and 18.8% [3]

东鹏饮料(集团)股份有限公司 2025 年前三季度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 东鹏饮料（集团）股份有限公司(以下简称"公司")根据上海证券交易所《上 市公司行业信息披露指引第十二号——酒制造》的有关规定，现将公司 2025 年 前三季度主要经营数据公告如下： 一、主要业务经营情况 (一) 主营业务产品类别分类情况 证券代码：605499 证券简称：东鹏饮料 公告编号：2025-065 单位：万元 币种：人民币 | 产品 | 年 2025 | 月 1-9 | 年 2024 | 月 1-9 | | --- | --- | --- | --- | --- | | | 收入 | 占比 | 收入 | 占比 | | 能量饮料 | 1,256,315.56 | 74.63% | 1,052,551.34 | 83.90% | | 电解质饮料 | 284,677.03 | 16.91% | 121,250.45 | 9.66% | | 其他饮料 | 142,432.39 | 8.46% | 80,737 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 10.737 billion yuan, a year-on-year growth of 36.37%, and net profit attributable to shareholders at 2.375 billion yuan, up 37.22% [4] - The company has increased its investment in ice cabinets, which has positively impacted sales, with promotional expenses rising by 61.20% year-on-year [4][5] - The company is expanding its product offerings, particularly in energy drinks and electrolyte beverages, with substantial growth in revenue and sales volume [6] Company Overview - The latest closing price of the company's stock is 299.93 yuan, with a total market capitalization of 156 billion yuan [3] - The company has a total share capital of 520 million shares, with a price-to-earnings ratio of 46.88 [3] Financial Performance - For Q2 2025, the company achieved revenue of 5.889 billion yuan, a year-on-year increase of 34.10%, and a net profit of 1.395 billion yuan, up 30.75% [5] - The gross profit margin for Q2 2025 was 45.70%, slightly down from the previous year due to a high base effect [5] - The company’s sales cash receipts for the first half of 2025 were 11.072 billion yuan, a growth of 24.63% year-on-year [5] Product and Channel Analysis - In the first half of 2025, revenue from energy drinks, electrolyte drinks, and other beverages reached 8.361 billion yuan, 1.493 billion yuan, and 877 million yuan respectively, with significant year-on-year growth [6] - The company is actively exploring new sales channels and enhancing its digital marketing strategies, including the use of AI technology for better customer service [9] Profit Forecast and Investment Suggestions - The company is expected to achieve revenues of 20.814 billion yuan, 26.254 billion yuan, and 31.864 billion yuan for the years 2025 to 2027, with corresponding net profits of 4.500 billion yuan, 5.962 billion yuan, and 7.514 billion yuan [10][12] - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 8.65 yuan, 11.47 yuan, and 14.45 yuan respectively, with a maintained "Buy" rating [10]

东鹏饮料(集团)股份有限公司 2025 年半年度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：605499 证券简称：东鹏饮料 公告编号：2025-049 东鹏饮料（集团）股份有限公司(以下简称"公司")根据上海证券交易所《上 海证券交易所上市公司自律监管指引第 3 号——行业信息披露第十二号——酒 制造》的有关规定，现将公司 2025 年半年度主要经营数据公告如下： 一、主要业务经营情况 (一) 主营业务产品类别分类情况 单位：万元 币种：人民币 | 产品 | 2025 年 | 1-6 月 | 2024 年 1-6 | 月 | | --- | --- | --- | --- | --- | | | 收入 | 占比 | 收入 | 占比 | | 能量饮料 | 836,051.10 | 77.91% | 685,805.64 | 87.23% | | 电解质饮料 | 149,273.84 | 13.91% | 47,583.78 | 6.05% | | 其他饮料 | 87,730.38 | 8.18 ...

Core Viewpoint - IFBH Limited (referred to as "if") is the fastest-growing coconut water company among the five major market participants in mainland China and Hong Kong, planning to raise up to HKD 1.158 billion through its IPO [2][3]. Company Overview - IF was established in 2013 and has been operating under the General Beverage brand. In 2022, it launched the Innococo brand and restructured its international business to focus on these brands outside Thailand [4]. - The company has become the second-largest player in the global coconut water beverage market by retail revenue as of 2024, with a market share of approximately 34% in mainland China and 60% in Hong Kong [5]. Financial Performance - IF's revenue for 2023 and 2024 is projected to be USD 87 million and USD 158 million, respectively, representing a year-on-year growth of 80.3% [7]. - Gross profit for the same years is expected to be USD 30 million and USD 58 million, with gross margins of 34.7% and 36.7% [7]. - Net profit is forecasted to be USD 17 million and USD 33 million for 2023 and 2024, showing a year-on-year increase of 98.9% [8]. Market Trends - The Greater China ready-to-drink soft drink market is projected to grow from USD 138.4 billion in 2024 to USD 194.7 billion by 2029, with a compound annual growth rate (CAGR) of 7.1% [8]. - Coconut water beverages are expected to be the fastest-growing segment, increasing from USD 109.3 million in 2024 to USD 265.2 million by 2029, with a CAGR of 19.4% [8]. Marketing Strategy - To enhance brand awareness, if has engaged high-profile brand ambassadors and collaborated with top KOLs on social media platforms like Douyin and Xiaohongshu [6]. - The company has also invested in advertising on large LED screens in prominent locations to further extend its brand influence [6].

Core Viewpoint - IFBH Limited (referred to as "if") is set to list on the Hong Kong Stock Exchange, having recently passed the hearing process, indicating strong growth potential in the coconut water market in China and Hong Kong [2][3]. Group 1: Company Overview - IF was established in 2013 and has evolved from General Beverage, which restructured its international business in 2022 to focus on the if and Innococo brands [3]. - The company has become the second-largest player in the global coconut water market, with a projected market share of approximately 34% in mainland China by 2024, significantly surpassing its nearest competitor [3][4]. - In Hong Kong, if has maintained a market share of about 60% since 2016, again outpacing its closest rival by a factor of seven [4]. Group 2: Product and Marketing Strategy - IF offers a diverse product range under the if and Innococo brands, including natural coconut water, other beverages, and plant-based snacks, with a total of 32 products planned for 2024 [4]. - The company employs high-profile brand ambassadors and collaborates with key opinion leaders (KOLs) to enhance brand visibility, particularly targeting Chinese consumers through platforms like Douyin and Xiaohongshu [4]. Group 3: Market Growth and Financial Performance - The Greater China ready-to-drink soft drink market is projected to grow from $138.4 billion in 2024 to $194.7 billion by 2029, with coconut water being the fastest-growing segment, expected to increase from $1.093 billion to $2.652 billion during the same period [5]. - IF's revenue is forecasted to rise from $8.7 million in 2023 to $15.8 million in 2024, reflecting an 80.3% year-on-year growth [6]. - The company's gross profit is expected to grow from $3 million in 2023 to $5.8 million in 2024, with gross margins improving from 34.7% to 36.7% [6]. Group 4: Future Plans and Use of IPO Proceeds - The net proceeds from the IPO will be primarily allocated to enhancing distribution capabilities, brand building, consolidating market presence in mainland China, and expanding into Australia, the Americas, and Southeast Asia [7].