New stock news | It is reported that China Resources Beverage is planning to start bookbuilding for an IPO as early as next week, aiming to raise approximately 6.2 billion HKD.

"Yibao" parent company China Resources Beverage is going through the listing hearing on the Hong Kong Stock Exchange and is scheduled to conduct an IPO roadshow in Hong Kong at the end of September. It is reported that China Resources Beverage plans to start bookbuilding as early as next week, intending to raise approximately 800 million US dollars (about 6.217 billion Hong Kong dollars); Bank of America, BOCI, CITIC SEC, and UBS are its joint sponsors. China Resources Beverage will become the second domestic packaged drinking water company to be listed on the Hong Kong Stock Exchange after NONGFU SPRING. According to the prospectus, based on the ZOKE Consulting report, China Resources Beverage is one of the earliest companies in China to specialize in the production of packaged drinking water. It has grown to become 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 "Yibao" branded purified drinking water products achieved a retail sales of 39.5 billion yuan in 2023, making it the top brand in the Chinese market for purified drinking water. Financially, from 2021 to 2023, China Resources Beverage achieved revenues of approximately 11.34 billion yuan, 12.623 billion yuan, and 13.515 billion yuan respectively; profits during the period were approximately 858 million yuan, 989 million yuan, and 1.331 billion yuan respectively; net profit margin increased from 7.6% in 2021 to 9.9% in 2023, and the gross profit margin was 43.8%, 41.7%, and 44.7% respectively.