IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shanghai (SSE) — 东鹏饮料 |
|---|---|
| Other Market Stock Code | 605499 |
| H-Share Offer Price | HK$ 248.00 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Eastroc |
|---|---|
| Stock Code | 09980 |
| Company Full Name | Eastroc Beverage (Group) Co., Ltd. |
| Industry | New Energy |
| Principal Activities | We are the No. 1 functional beverage company in China, with our revenue growth rate ranking first among the top 20 listed soft drink companies globally. According to a Frost & Sullivan report, by volume, we have ranked No. 1 in China's functional beverage market for four consecutive years since 2021, with our market share increasing from 15.0% in 2021 to 26.3% in 2024. By retail value, we were the No. 2 functional beverage company in 2024, with a market share of 23.0%, and our leading position continues to be consolidated. Over more than 30 years of focused development, we have continuously provided consumers with high value-for-money beverage products, successfully building the "Dongpeng" brand, which is widely loved by consumers and has national-level influence. While consolidating our leading position in the functional beverage industry, we have also continued to drive product innovation and iteration and expand our diversified category portfolio, laying the foundation for the Company's long-term development. |
| Listing Date | 2026-02-03 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | Headquarters in the PRC 1/F, Building 3 88 Mingliang Science Park 142 Zhuguang North Road Taoyuan Community Nanshan District Shenzhen Guangdong Province PRC Principal Place of Business 40th Floor, Dah |
| Business Address (Hong Kong) | 248 Queen’s Road East Wanchai Hong Kong |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | szeastroc.com |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | Computershare Hong Kong Investor Services |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 248.00 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 24,800 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-01-26 to 2026-01-29 |
| Global Offering Shares | 40,889,900 shares |
| HK Public Offer Shares (Initial) | 4,089,000 shares (10.0%) |
| Public Offer Lots (Initial) | 40,890lots (Pool A20,445lots，Pool B20,445lots) |
| International Placing Shares (Initial) | 36,800,900 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 560,902,900 shares |
| Greenshoe (Over-allotment Option) | Yes |
| Stabilizing Manager (Greenshoe) | HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809 |
| Cornerstone Share | 4715991.8% |
| Clawback Tiers | Mechanism B: no clawback mechanism |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 10,140,695,200 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 24,800 |
| 2 lots | 200 | HK$ 49,600 |
| 3 lots | 300 | HK$ 74,400 |
| 4 lots | 400 | HK$ 99,200 |
| 5 lots | 500 | HK$ 124,000 |
| 6 lots | 600 | HK$ 148,800 |
| 7 lots | 700 | HK$ 173,600 |
| 8 lots | 800 | HK$ 198,400 |
| 9 lots | 900 | HK$ 223,200 |
| 10 lots | 1,000 | HK$ 248,000 |
| 15 lots | 1,500 | HK$ 372,000 |
| 20 lots | 2,000 | HK$ 496,000 |
| 25 lots | 2,500 | HK$ 620,000 |
| 30 lots | 3,000 | HK$ 744,000 |
| 35 lots | 3,500 | HK$ 868,000 |
| 40 lots | 4,000 | HK$ 992,000 |
| 45 lots | 4,500 | HK$ 1,116,000 |
| 50 lots | 5,000 | HK$ 1,240,000 |
| 60 lots | 6,000 | HK$ 1,488,000 |
| 70 lots | 7,000 | HK$ 1,736,000 |
| 80 lots | 8,000 | HK$ 1,984,000 |
| 90 lots | 9,000 | HK$ 2,232,000 |
| 100 lots | 10,000 | HK$ 2,480,000 |
| 200 lots | 20,000 | HK$ 4,960,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 300 lots | 30,000 | HK$ 7,440,000 |
| 400 lots | 40,000 | HK$ 9,920,000 |
| 500 lots | 50,000 | HK$ 12,400,000 |
| 600 lots | 60,000 | HK$ 14,880,000 |
| 700 lots | 70,000 | HK$ 17,360,000 |
| 800 lots | 80,000 | HK$ 19,840,000 |
| 900 lots | 90,000 | HK$ 22,320,000 |
| 1,000 lots | 100,000 | HK$ 24,800,000 |
| 2,000 lots | 200,000 | HK$ 49,600,000 |
| 3,000 lots | 300,000 | HK$ 74,400,000 |
| 4,000 lots | 400,000 | HK$ 99,200,000 |
| 5,000 lots | 500,000 | HK$ 124,000,000 |
| 7,500 lots | 750,000 | HK$ 186,000,000 |
| 10,000 lots | 1,000,000 | HK$ 248,000,000 |
| 15,000 lots | 1,500,000 | HK$ 372,000,000 |
| 20,445 lots | 2,044,500 | HK$ 507,036,000 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 7.99B |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 139,103,919,200 |
|---|---|
| H-Share Market Cap (at Offer Price) | HK$ 10,140,695,200 |
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Approximately 30.8x (based on offer price HK$248 and 2024 EPS) |
| Profit/Loss Status | Net profit RMB 3,326.4 million |
| Period-End Cash Balance | RMB 1,641.26 million |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | ~1.4% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 251.8 |
|---|---|
| First Day Open | HK$ 248.0 |
| First Day Change | 1.53% |
| First Day Volume | 5536840.0 |
| First Day Turnover | 1377050000.0 |
| Use of Proceeds | 1、約36.0%或3,597.9百萬港元將用于未來三到五年內完善產能布局和推進供應鏈升級，在滿足公司高速增長的需求的同時，不斷提升生產及供貨效率、鞏固成本優勢；
2、約15.0%或1,499.1百萬港元將用于未來三到五年內加強品牌建設和消費者互動，持續增強品牌影響力；
3、約11.0%或1,099.4百萬港元將用于未來三到五年內持續推進全國化戰略，拓展、深耕和精細化運營渠道網絡；
4、約12.0%或1,199.4百萬港元將用于未來三到五年內拓展海外市場業務，探索潛在投資及并購機會；
5、約10.0%或999.4百萬港元將用于未來三到五年內加強各個業務環節的數字化建設；
6、約6.0%或599.7百萬港元將用于未來三到五年內增強產品開發能力，持續實現產品品類拓展；
7、約10.0%或999.4百萬港元用于營運資金及一般企業用途。 |
Underwriting Syndicate
Joint Sponsors (3)
Sponsor cum Overall Coordinator (3)
Overall Coordinators (3)
Joint Global Coordinators (3)
Joint Bookrunners (3)
Joint Lead Managers (3)
Capital Market Intermediaries (3)
Stabilizing Manager (1)
HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED CE AOK809
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
Herbert Smith Freehills Kramer 德恒律师事务所 |
| Legal Advisor to Sponsors/Underwriters |
嘉源律师事务所 美迈斯律师事务所 嘉源律师事务所 |
| Auditor and Reporting Accountant | 德勤•关黄陈方会计师行 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Compliance Advisor | Somerley Capital Limited CE BAU754 |
| Receiving Banks |
中国银行（香港）有限公司 中国建设银行（亚洲）股份有限公司 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Al-Rayyan Holding LLC | 150,000,000 USD | 1,169 | 4715900.00% | 11.50% | 6 months | 2026-08-03 |
| 2 | 太白投资有限公司(3) | 56,000,000 USD | 1,760,600 | 4.30% | 0.30% | 6 months | 2026-08-03 |
| 3 | True Light Investments H Pte. Ltd.(3) | 14,000,000 USD | 440,100 | 1.10% | 0.10% | 6 months | 2026-08-03 |
| 4 | BlackRock基金（定义见下文） | 60,000,000 USD | 1,886,300 | 4.60% | 0.30% | 6 months | 2026-08-03 |
| 5 | UBS Asset Management(Singapore) Ltd | 50,000,000 USD | 1,571,900 | 3.80% | 0.30% | 6 months | 2026-08-03 |
| 6 | Huang River Investment Limited | 50,000,000 USD | 1,571,900 | 3.80% | 0.30% | 6 months | 2026-08-03 |
| 7 | HSG Growth VII Holdco,Ltd | 40,000,000 USD | 1,257,500 | 3.10% | 0.20% | 6 months | 2026-08-03 |
| 8 | JPMorgan Asset Management(Asia Pacific) Limited | 30,000,000 USD | 943,100 | 2.30% | 0.20% | 6 months | 2026-08-03 |
| 9 | Azure Skylines Limited | 30,000,000 USD | 943,100 | 2.30% | 0.20% | 6 months | 2026-08-03 |
| 10 | 泰康人寿保险有限责任公司 | 30,000,000 USD | 943,100 | 2.30% | 0.20% | 6 months | 2026-08-03 |
| 11 | Pacific Century Pines Investments 1 Limited | 30,000,000 USD | 943,100 | 2.30% | 0.20% | 6 months | 2026-08-03 |
| 12 | FMR参与基金（定义见下文） | 20,000,000 USD | 628,700 | 1.50% | 0.10% | 6 months | 2026-08-03 |
| 13 | Velmar Company Limited | 20,000,000 USD | 628,700 | 1.50% | 0.10% | 6 months | 2026-08-03 |
| 14 | 保银资产管理有限公司 | 20,000,000 USD | 628,700 | 1.50% | 0.10% | 6 months | 2026-08-03 |
| 15 | Amazing Mountain Limited | 20,000,000 USD | 628,700 | 1.50% | 0.10% | 6 months | 2026-08-03 |
| 16 | Great China Motivation Fund Phase II L.P | 20,000,000 USD | 1 | 55.94% | 62.00% | 6 months | 2026-08-03 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 林木勤 | LIN Muqin |
| Company Secretary | 張磊 | — |
| Independent Non-Executive Director | 赵亚利 | ZHAO Yali |
| Executive Director | 林木港 | LIN Mugang |
| Independent Non-Executive Director | 游晓 | YOU Xiao |
| Executive Director | 卢义富 | LU Yifu |
| Independent Non-Executive Director | 李洪斌 | LI Hongbin |
| Executive Director | 蒋薇薇 | JIANG Weiwei |
| Independent Non-Executive Director | 戴国良 | TAI Kwok Leung |
| Executive Director | 张磊 | ZHANG Lei |
| Executive Director | 林戴吉 | LIN Daiji |
Major Shareholders
| Major Shareholders & Holdings | Mr. 林木勤 directly holds 258,657,634 A shares (representing 49.74%), and indirectly holds 2,171,145 A shares (representing approximately 0.42% in aggregate) through 東鵬遠道, 東鵬致遠 and 東鵬致誠, for a total shareholding of approximately 50.16%. Mr. 林木港 holds 27,151,626 A shares (representing 5.22%). Mr. 林戴欽 holds 27,151,626 A shares (representing 5.22%). 鯤鵬投資 holds 26,319,204 A shares (representing 5.06%), controlled by Mr. 莊建恩 (general partner) and Mr. 林煜鵬 (limited partner, with an interest of approximately 54.05%). |
|---|
AI
AI Analysis
AI interpretation
deepseek-v4-pro · AI-generated
Market Sentiment
东鹏饮料(09980)公开认购超额57.46倍，一手中签率30.16%，反映散户热情中等，未出现极度狂热。最终定价248港元且国际配售比例为0，显示认购结构偏向公开市场，整体情绪稳定。(This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
Tier Analysis
本次数据未提供分层分配细节（如甲组/乙组），无法分析各档位中签率或经纪人佣金效率异常。入场门槛24,800港元及每手股数为0可能为数据不完整所致，需查看官方公告。(This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions from source documents — verify against official HKEX filings.)
Demographics
申请人人口统计数据显示所有字段为0或空，未提供内地参与比例、性别或地域分布，无法进行群体特征分析。建议参考后续港交所披露的完整档案。(This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice. Data may contain errors or omissions from source documents — verify against official HKEX filings.)
