Lei Jianping on July 11
Cestbon's parent company, China Resources Beverage (Holdings) Co., Ltd. (hereinafter referred to as "China Resources Beverage"), has recently passed the IPO filing with the China Securities Regulatory Commission.
CR Beverage intends to issue up to 405,882,200 overseas listed ordinary shares and list on the Hong Kong Stock Exchange.
China Resources Beverage submitted its prospectus in late April 2024 and obtained the IPO filing in less than 3 months.
Annual revenue of 13.5 billion
CR Beverage is a pioneer in China's packaged drinking water industry and a leader in China's ready-to-drink soft drink industry. According to the CIC report, we are one of the earliest companies in China to specialize in the production of packaged drinking water.
After 40 years of development, CR Beverage has grown into the second largest packaged drinking water company in China and the largest drinking water company in China (in terms of retail sales in 2023).
According to the CIC report, the retail sales of our "Cestbon" brand of purified drinking water products reached RMB39.5 billion in 2023, making it the No. 1 brand in China's purified drinking water market.
CR Beverage mainly has a product portfolio of 13 brands, including "Cestbon", "Zhiben Qingrun", "Honey Water Series", "Holiday Series" and "Flavor Tea", with a total of 56 SKUs.
According to the prospectus, China Resources Beverage's revenue in 2021, 2022, and 2023 will be 11.34 billion yuan, 12.623 billion yuan, and 13.515 billion yuan respectively; The gross profit was 4.971 billion yuan, 5.259 billion yuan and 6.035 billion yuan respectively.
In 2021, 2022 and 2023, the distribution and sales expenses of China Resources Beverage will be 3.757 billion yuan, 3.878 billion yuan and 4.087 billion yuan respectively; The profit for the year was 858 million yuan, 989 million yuan and 1.331 billion yuan respectively.
As of December 31, 2023, CR Beverage held cash and cash equivalents of RMB2.075 billion.
In April 2024, with the approval of the Board of Directors meeting held on 21 April 2024, CR Beverage intends to declare a dividend of $2.5 billion (the "Dividend") to existing shareholders.
China Resources Group controls 60% of the shares
The executive directors of China Resources Beverage are Zhang Weitong, Ms. Feng Jing and Ms. Wu Xia; The non-executive directors are Lin Guolong, Sun Yongqiang, Xiao Ning, Ms. Cao Yue and Dr. Zhao Dian; The independent non-executive Directors are Dr. Zhou Yongjian, Li Yinquan, Dr. Yao Yang and Ms. Zheng Baochuan.
As at the Latest Practicable Date, China Resources Group (Beverage) and Plateau owned 60% and 40% of the equity interest in China Resources Beverage, respectively.
China Resources Group (Beverage) is wholly owned by CR Enterprise, which in turn is wholly owned by China Resources Group (Huachuang), a subsidiary of China Resources Group.
Plateau由Plateau Consumer Fund, L.P.全资拥有，Plateau Consumer Fund, L.P.的普通合伙人为Plateau Investment Limited。
Dong Yi女士通过其全资拥有的公司Plateau Holding Limited拥有Plateau Investment Limited的100%股权。
On August 5, 2022, Plateau acquired 400 shares of the Company for a consideration of US$1 billion. Plateau Consumer Fund, L.P., the largest limited partner, Mingyu Limited, an investment holding company incorporated in Hong Kong, holds approximately 36.8% of its limited partnership interest.
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