Citibank: Initiates coverage of Eastroc Beverage (09980) with a "Buy" rating and a target price of 408.8 Hong Kong dollars.

13:58 04/02/2026

According to the forecast, Dongpeng Beverage's net profit in the next two years is expected to increase by 27% and 22% respectively, making it one of the fastest-growing companies among the Chinese consumer goods companies covered by the bank.

Citigroup released a research report stating that due to the limited number of high-quality beverage companies available for global institutional investors to choose from in the Hong Kong market, the bank has initiated coverage on Eastroc Beverage (09980) for the first time, giving it a "buy" rating with a target price of 408.8 Hong Kong dollars. The bank predicts that Eastroc Beverage's net profit will increase by 27% and 22% in the next two years, making it one of the fastest-growing companies among the Chinese consumer goods companies covered by the bank. The bank is optimistic about Eastroc Beverage's continued strong growth in new product categories (including sports drinks and other beverages) in the next two years, as well as its expansion in non-Guangdong markets. Eastroc Beverage remains one of the bank's top picks in the Chinese consumer sector for 2026. Citigroup's relative ranking of companies in the Chinese beverage industry is Eastroc Beverage, Nongfu Spring (09633), and U-PRESID China (00220), all of which have a "buy" rating. On the other hand, Master Kong (00322) has a "sell" rating.

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