Eastroc Beverage (09980) IPO from January 26 to January 29, expected to be listed on February 3.

Eastroc Beverage (09980) will be listed from January 26, 2026 to January 29, 2026, with a plan to globally issue 40.8899 million shares, of which 10% will be sold in Hong Kong and 90% internationally, with an additional 15% over-allotment option. The offer price will not exceed HKD 248.00 per share. Trading of the shares is expected to begin on the Stock Exchange on February 3, 2026. The company is China's leading functional beverage company, with revenue growth ranking first among the top 20 listed soft drink companies globally. According to a Frost & Sullivan report, the company has been ranked first in the Chinese functional beverage market in terms of sales volume for four consecutive years since 2021, with market share increasing from 15.0% in 2021 to 26.3% in 2024. In terms of retail sales, the company was the second largest functional beverage company in 2024, with a market share of 23.0%, maintaining a solid leading position. With over 30 years of experience, the company continues to provide consumers with high-quality and affordable beverage products, successfully establishing the popular and nationally recognized "Dongpeng" brand. While solidifying its leadership position in the functional beverage industry, the company continues to innovate and expand its diverse product offerings, laying a foundation for long-term growth. The company has established a nationwide sales network, covering over 4.3 million terminal sales outlets across China as of September 30, 2025, achieving nearly 100% coverage of prefectural-level cities. The sales team works closely with distribution partners to improve product placement and visibility in order to increase market penetration. The company continues to expand its omni-channel sales network to meet consumers' daily consumption needs in various settings. With a focus on meticulous channel management, the company's strong sales team of over 7500 people provides comprehensive support to channel partners, establishing deep and mutually beneficial relationships. By working closely with channel partners, the company enhances market penetration and channel management, reaching more efficient terminal sales outlets, improving market responsiveness, and promoting new product sales. The company has signed cornerstone investment agreements with several institutional investors, including Al-Rayyan Holding LLC, Taibai Investment Limited (an indirect wholly-owned subsidiary of Temasek Holdings Private Limited), True Light Investments H Pte. Ltd., BlackRock Funds, UBS Asset Management (Singapore) Ltd, Huang River Investment Limited (a wholly-owned subsidiary of Tencent), HSG Growth VII Holdco, Ltd., JPMorgan Asset Management (Asia Pacific) Limited, Azure Skylines Limited (a controlled subsidiary of Boyu Capital Opportunities Master Fund), TaiKang Life Insurance Co., Pacific Century Pines Investments 1 Limited (an entity indirectly owned by Mr. Li Ka Shing), FMR Participating Funds, Velmar Company Limited, Bao Yin Asset Management Co., Ltd., Amazing Mountain Limited, and Great China Motivation Fund Phase II L.P. These cornerstone investors have agreed to subscribe for or induce designated entities to subscribe for shares totaling approximately USD 640 million at the offer price, resulting in a total of 20.12 million shares to be subscribed for. Based on the offer price of HKD 248.00 per H share, after deducting underwriting commissions and other estimated expenses, and assuming the over-allotment option is not exercised, the company estimates that the net proceeds from the global offering will be approximately HKD 9.994 billion. According to the company's strategy, the net proceeds from the global offering will be allocated as follows: approximately 36.0% of the net proceeds will be used to improve capacity layout and upgrade the supply chain in the next three to five years, while continuously enhancing production and supply efficiency and consolidating cost advantages. Approximately 15.0% of the net proceeds will be used to strengthen brand building and consumer interaction in the next three to five years, constantly enhancing brand influence. Approximately 11.0% of the net proceeds will be used to advance the national strategy in the next three to five years, expanding, cultivating, and refining the operational channel network. Approximately 12.0% of the net proceeds will be used to expand overseas market operations in the next three to five years, exploring potential investment and merger opportunities. Approximately 10.0% of the net proceeds will be used to enhance the digital construction of various business aspects in the next three to five years. Approximately 6.0% of the net proceeds will be used to enhance the company's product development capabilities in the next three to five years, continuously realizing product category expansion. Approximately 10.0% of the net proceeds will be used for working capital and general corporate purposes.