2月3日，东鹏饮料正式登陆香港联合交易所主板，证券简称为"东鹏饮料"，股份代码09980.HK，成为国内首家实现A+H双上市的功能饮料企业。此次港股 上市，不仅是东鹏饮料资本布局的重要里程碑，更标志着中国民族功能饮料品牌正式迈入全球化发展的全新阶段，为行业出海树立了新标杆。上市仪式上， 东鹏饮料集团董事长、总裁林木勤与东鹏大咖品牌代言人韩红共同敲响上市金锣，这一时刻也宣告着这只来自东方的"大鹏"，正式开启A+H双资本平台的新 征程，向着"飞跃全球"的品牌使命全速迈进。 东鹏饮料集团董事长、总裁林木勤与韩红共同敲响上市金锣 产品+业绩双优，筑牢企业核心竞争力 作为中国功能饮料赛道的领军企业，东鹏饮料始终精准把握行业发展趋势，紧扣消费市场健康化、细分化的核心需求，构建起多元化的产品矩阵，推 行"1+6"多品类发展战略，在巩固能量饮料核心优势的同时，持续培育第二增长曲线，产品结构优化成效显著。旗下拳头产品东鹏特饮凭借深入人心的品牌 价值与深度的渠道渗透能力，表现尤为亮眼，连续4年（2021-2024）位居中国功能饮料销量榜首，2025年前三季度，其收入达到125.63亿元，同比增幅接近 20%，在中国百亿单品中增速 ...

记者｜刘婧汐 编辑｜高梦阳 2026年2月3日，东鹏饮料(09980.HK)在香港联交所挂牌并开始上市交易，今日开盘，东鹏饮料报248.00 港元/股，市值1391.04亿港元。随后破发，最低下探至244.2港元/股。 截至收盘，东鹏饮料（605499.SH）报253.96元/股，东鹏饮料（09980.HK）报251.8港元/股，日内涨 1.69%。 （图源：东鹏特饮微博账号） 此次港股上市，东鹏基石投资阵容豪华——包括15家全球头部机构合计认购金额超过6亿美元，覆盖主 权财富基金、国际长线基金、中资头部长线机构、私募基金及消费产业资本等多元类型。本次15亿的发 行规模（或13亿基础发行规模）中，大约有6亿4千万（将近一半）是基石的分配。 具体来看，本次东鹏饮料香港IPO引入基石投资者包括Al-Rayyan Holding LLC、太白投资有限公司(为淡 马锡控股(私人)有限公司("淡马锡")的间接全资子公司)、True Light InvestmentsH Pte. Ltd.、BlackRock基 金、UBS Asset Management(Singapore) Ltd、Huang River Inves ...

Core Viewpoint - Dongpeng Beverage successfully listed on the Hong Kong Stock Exchange on February 3, 2026, with an opening price of HKD 248.00 per share and a market capitalization of HKD 139.1 billion, although it experienced a drop below the opening price during the day [1] Group 1: IPO Details - The IPO attracted a strong cornerstone investor lineup, with 15 global leading institutions collectively subscribing over USD 600 million, including sovereign wealth funds, international long-term funds, and private equity [3][4] - The total issuance scale for the IPO was approximately HKD 15 billion, with around HKD 6.4 billion (nearly half) allocated to cornerstone investors [3] Group 2: Financial Performance - Dongpeng's revenue for the years 2022, 2023, 2024, and the first three quarters of 2025 were reported as RMB 8.5 billion, RMB 11.26 billion, RMB 15.83 billion, and RMB 16.84 billion respectively, with net profits of RMB 1.44 billion, RMB 2.04 billion, RMB 3.33 billion, and RMB 3.76 billion [5] - According to a report by Frost & Sullivan, Dongpeng has ranked first in China's functional beverage market by sales for four consecutive years since 2021, with market share increasing from 15.0% in 2021 to 26.3% in 2024, and the company has the highest revenue growth rate among the top 20 listed soft drink companies globally [5] Group 3: Market Position - Following its successful listing, Dongpeng became the first functional beverage company in China to be listed on both A-shares and H-shares [6] - The pricing of Dongpeng's H-shares was approximately 15% lower than its A-shares at the time of cornerstone pricing, marking it as the second narrowest discount for an A+H IPO, following CATL [6]

东鹏饮料的联席保荐人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人为华泰金融 控股(香港)有限公司、摩根士丹利亚洲有限公司、UBS Securities Hong Kong Limited。 中国经济网北京2月3日讯东鹏饮料（605499）(集团)股份有限公司(以下简称"东鹏饮料"，09980.HK)今 日在港交所上市，盘中一度破发。截至收盘，该股收报251.80港元，涨幅1.53%，最低价245.60港元。 最终发售价及配发结果公告显示，东鹏饮料全球发售项下的发售股份数目40,889,900股H股，其中香港 发售股份数目4,089,000股H股，国际发售股份数目36,800,900股H股(包括员工保留股份670,600股)。 东鹏饮料的最终发售价为248.00港元，募集资金总额10,140.70百万港元，扣除基于最终发售价的估计应 付上市开支146.40百万港元，募集资金净额9,994.30百万港元。 | | 價格資料 | | --- | --- | | 最終發售價 | 248.00港元 | | 最高發售價 | 248.00港元 | | 夏集資金 | | | --- | --- | | 募集資 ...

2月3日，港股早盘探底后小幅反弹，午后保持窄幅震荡走势，截止收盘，恒生指数涨0.22%报26834.77 点，恒生科技指数跌1.07%报5467.26点，国企指数跌0.3%报9053.11点，红筹指数涨1.06%报4290.3点。 盘面上，大型科技股普遍收跌，阿里巴巴跌1.41%，腾讯控股跌2.92%，京东集团跌0.72%，小米集团跌 1.31%，网易涨0.3%，美团跌1.74%，快手跌4.61%，哔哩哔哩跌2.54%；大模型概念股走强， MINIMAX-WP涨近11%，智谱涨超8%；黄金股反弹，万国黄金集团涨超13%，紫金黄金国际涨超7%， 赤峰黄金涨超7%，灵宝黄金涨超5%；东鹏饮料港股首日涨超1%。 企业资讯 云工场(02512.HK)：附属中标人工智能产业基地二期项目，合约价值为人民币5.2亿元。 中兴通讯(00763.HK)：拟出资1.17亿元认购建兴湛卢基金份额，可投资扶持更大范围的创新业务及上下 游产业链企业。 小鹏汽车(09868.HK)：1月共交付新车20011辆。 君圣泰医药（核心股）-B(02511.HK)：任命Filip Surmont博士为首席医学官，强化心肾代谢系统疾病 (CKM) ...

Core Insights - Dongpeng Beverage has officially listed on the Hong Kong Stock Exchange, marking a significant milestone in its 40-year journey in the beverage industry and signaling its ambition to expand globally [2] Group 1: Multi-Category Strategy - Dongpeng Beverage has demonstrated steady growth through a multi-category strategy, evolving from a single flagship brand to a diversified health beverage group [3] - The "Dongpeng Water" electrolyte drink has become a leading brand in China's electrolyte beverage market, with projected revenue nearing 1.5 billion yuan in 2024 and 2.847 billion yuan in the first three quarters of 2025, reflecting a year-on-year growth of 134.78% [3] - The company is actively expanding its product range with the "1+6 multi-category strategy," which includes "Dongpeng Water," "Fruit Tea," and "Hong's Milk Tea," showcasing strong resilience and growth potential [3][4] Group 2: Market Performance - Dongpeng's core brand "Dongpeng Special Drink" has topped the Chinese energy drink market in 2025, maintaining its position as the leading functional beverage since 2021 [4] - Revenue from the energy drink category reached 12.563 billion yuan in the first three quarters of 2025, with a year-on-year increase of nearly 20% [4] - The introduction of innovative products like "Fruit Tea" and "Hong's Milk Tea" aims to meet diverse consumer preferences and enhance market presence [4] Group 3: National Expansion - Dongpeng Beverage has successfully established a nationwide production network with ten major production bases across China, including locations in Anhui, South China, Chongqing, Nanning, Changsha, and Zhejiang [5] - The recent signing of the 14th production base in Chengdu strengthens the company's strategic footprint in Southwest China, supporting its goal of becoming a leading beverage group in China [7] - The company is expanding at an average rate of two new bases per year, creating a robust foundation for high-quality development [7] Group 4: Digital Transformation - Dongpeng Beverage anticipates a revenue exceeding 20.7 billion yuan in 2025, reflecting a year-on-year growth of over 31%, highlighting its competitive advantages in the fast-moving consumer goods sector [8] - The company has developed a digital platform that integrates the entire supply chain, enhancing operational efficiency and market responsiveness [8] - This digital capability allows for precise channel management and marketing investments, creating a virtuous cycle of product development and consumer insights [8] Group 5: Global Ambitions - The listing on the Hong Kong capital market represents a strategic decision for Dongpeng Beverage, showcasing a successful business model that integrates product innovation, national distribution, channel development, and digital operations [9] - The company aims to leverage its strong foundation in the Chinese market to expand its presence on the global stage, promoting Eastern beverage culture and energy [9] - Dongpeng Beverage is well-positioned to bring the energy and wisdom of Chinese consumer goods to a broader international audience [9]

长途司机副驾上的标配、运动场边随手拧开的一口提神——那句"累了困了喝东鹏特饮"，早已融入无数消费者的日常。 2月3日，这瓶国民功能饮料背后的公司——东鹏饮料（集团）股份有限公司正式登陆港交所（简称东鹏饮料）登陆港交所，开盘平开每股为248港元，总 市值1392亿港元；截至发稿，每股跌0.08%至247.8港元，总市值1390亿。 最新业绩预告显示，公司2025年预计营业收入将达到207.6亿元至211.2亿元，较上年同期增长31.07%至33.34%，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%。 02 值得一提的是，东鹏饮料目前对核心产品东鹏特饮的依赖性较高。 | 今开 | 248.000 | | 最高 | 249.800 | | 成交量 | 285.71万股 | | --- | --- | --- | --- | --- | --- | --- | --- | | 昨收 | 248.000 | | 最低 | 246.800 | | 成交额 | 7.11亿 | | 换手率 | 6.99% | | 市盈(TTM) | 28.97 | | 总市值 | 1390亿 | | 分时 ...

Core Viewpoint - Dongpeng Beverage Group officially listed on the Hong Kong Stock Exchange, becoming the first dual-listed company in the functional beverage industry in China, raising a record HKD 10.141 billion through its IPO [1][3] Group 1: IPO Details - The IPO was priced at HKD 248 per share, marking the largest soft drink IPO in Hong Kong's history [1] - The company attracted 15 cornerstone investors, including Qatar Investment Authority, Temasek, and BlackRock, securing a total subscription of USD 640 million [3] Group 2: Market Position and Performance - Dongpeng Beverage has maintained its position as the leading functional beverage brand in China for four consecutive years, with a market share of 26.3% in 2024 [3] - The company is projected to achieve a revenue of RMB 20.76 billion to RMB 21.12 billion in 2025, reflecting a year-on-year growth of 31.07% to 33.34% [3] - Net profit attributable to shareholders is expected to be between RMB 4.34 billion and RMB 4.59 billion, with an increase of 30.46% to 37.97% [3] Group 3: Use of Proceeds - 12% of the net proceeds from the IPO will be allocated to expanding overseas operations, while 8% will be used to build overseas supply chain infrastructure [3]

值得注意的是，中东主权财富基金卡塔尔投资局以1.5亿美元领投，而这也是卡塔尔投资局首次作为基 石投资者参与A股至H股IPO项目，也是其作为基石投资者参与的首个消费IPO，也是其历史上投资金额 最大的一笔基石投资。 东鹏饮料为何能获得如此多国内外明星资本的背书？ 招股书显示，据弗若斯特沙利文报告，按销量计，东鹏饮料旗下产品东鹏特饮自2021年起已连续四年位 居中国功能饮料市场第一，市场份额从2021年的15.0%增长至2024年的26.3%。 2月3日，东鹏饮料在港交所挂牌上市，该公司也成为继豪威集团、兆易创新后，2026年以来又一 家"A+H"上市企业。 本次东鹏饮料港股IPO全球发售4088.99万股（占发行完成后总股份的约7.29%），每股定价248港元，募 集资金总额约101.41亿港元，募资净额约99.94亿港元。该公司本次IPO也创下多项纪录。 东鹏饮料成为2026年至今规模最大的香港IPO；也是食品饮料行业（不含酒精饮品），港股市场历史上 规模最大的IPO；还是过去5年，A股公司赴港上市项目中发行时折价率第二低的IPO，仅次于宁德时 代。 东鹏饮料港股股价一度跳水，最低曾触及245.6港元/股。不 ...

Core Viewpoint - Dongpeng Beverage is positioned for clear growth in 2026, driven by its platform layout and strong market position in the energy drink sector [1] Group 1: Company Performance - Dongpeng Beverage is the leading player in the domestic energy drink market, with stable growth in its energy drink segment and expansion in new product categories [1] - The company benefits from scale advantages and cost optimization, which are expected to drive performance beyond expectations [1] Group 2: Market Comparison - The report references Nongfu Spring, a comparable industry leader, which has a solid and steady growth in its mineral water business and a rapidly growing sugar-free tea segment [1] - Nongfu Spring's 2026 price-to-earnings (PE) ratio is projected at 29 times, indicating a strong market position [1] Group 3: Valuation and Investment Outlook - Dongpeng Beverage's leading position in functional drinks and the high growth potential of its electrolyte water segment suggest a continuously improving industry ceiling [1] - The company is projected to achieve a 2026 valuation of 30 times earnings, corresponding to a market value of 172.5 billion, indicating a potential upside of around 30% [1] - The recommendation for Dongpeng Beverage is to maintain a "buy" rating [1]