New stock news | China Resources Beverage has received approval from the Hong Kong Stock Exchange to conduct an IPO. The earliest possible listing date could be in late this month.

According to sources quoted by IFR, China Resources Beverage has obtained approval from the Hong Kong Stock Exchange for an IPO, with a possible maximum fundraising of $1 billion. The earliest possible listing date may start at the end of this month, but the exact timing has not been finalized. According to the Hong Kong Stock Exchange disclosure on April 22, China Resources Beverage (Holdings) Limited has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with bofa securities, BOCI, CITIC SEC, and UBS as its joint sponsors. According to an analysis report, China Resources Beverage is one of the earliest companies in China specialized in the production of packaged drinking water. It has grown into the second largest packaged drinking water company in China and the largest drinking purified water company in China (based on 2023 retail sales). The company's "C\'estbon" brand of purified drinking water products achieved retail sales of 39.5 billion yuan in 2023, making it the leading brand in the Chinese drinking purified water market. The company mainly owns a product portfolio of 13 brands such as "C\'estbon," "Chunrun," "Mishi series," "Holiday series," and "Zuowei tea events," with a total of 56 SKUs. According to the analysis report, in 2023, in terms of regional distribution, the company's packaged drinking water products have the highest market share in the packaged drinking water markets of 6 major provinces (Guangdong, Hunan, Sichuan, Hainan, Guangxi, and Hubei) in China. In 2023, the market size of packaged drinking water in these 6 provinces accounted for approximately 30% of the total market size of China's packaged drinking water market. Financially, in the years 2021, 2022, and 2023, China Resources Beverage achieved revenues of approximately 11.34 billion yuan, 12.62 billion yuan, and 13.51 billion yuan respectively; and profits for the year of approximately 858 million yuan, 989 million yuan, and 1.331 billion yuan respectively.