CR BEVERAGE debuted with a more than 13% opening surge on its first day of trading, reaching a market value of HKD 38.6 billion
CR BEVERAGE debuted on the Hong Kong stock market today, opening up 13.52% at HKD 16.46, with a total market value of HKD 38.645 billion. The IPO price of the stock was HKD 14.5 per share, and the public offering stage was oversubscribed by 236 times. CR BEVERAGE is the second largest packaged drinking water company in China, with retail sales of the "C'estbon" brand reaching 39.5 billion yuan in 2023. From 2021 to 2023, CR BEVERAGE's revenue was 11.34 billion, 12.623 billion, and 13.515 billion yuan respectively, with a net profit margin increasing from 7.6% to 9.9%
CR BEVERAGE (2460.HK) made its debut on the Hong Kong stock market today, opening 13.52% higher at HKD 16.46, with a total market value of HKD 38.645 billion. The IPO price of the stock was HKD 14.5 per share, and it received 236 times oversubscription during the public offering.
CR BEVERAGE, with its core brand "C'estbon", is engaged in the production and sale of packaged drinking water products. According to a report by Zhuo Shi Consultancy, CR BEVERAGE 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 retail sales of CR BEVERAGE's "C'estbon" brand drinking purified water products reached 39.5 billion yuan in 2023, making it the leading brand in the Chinese drinking purified water market.
According to the prospectus, from 2021 to 2023, CR BEVERAGE achieved revenues of approximately 11.34 billion yuan, 12.623 billion yuan, and 13.515 billion yuan respectively; with profits of approximately 858 million yuan, 989 million yuan, and 1.331 billion yuan respectively during the period. The net profit margin increased from 7.6% in 2021 to 9.9% in 2023.
