#China #Hong Kong #Harvest Capital #Eastroc Beverage #Hong Kong IPO

Eastroc Beverage's Milestone in Hong Kong

February 3, 2026 - In a significant achievement for the beverage industry, Eastroc Beverage officially launched on the Hong Kong Stock Exchange today, marking its momentous entry as the first functional beverage company in China to be listed on both the A-share and H-share markets. This milestone not only reflects the growth of Eastroc but also the potential of the consumer market in China.

With a staggering market capitalization exceeding HKD 140 billion, Eastroc's offering raised about HKD 10.14 billion. The listings were notably oversubscribed with the Hong Kong public offering achieving 57.46 times and the international tranche at 15.60 times adherence, a record for the Asian beverage sector and the largest beverage IPO in the continent's history.

A Journey of Growth and Success

Founded in 1994, Eastroc Beverage has become synonymous with functional beverages in China. Under the guidance of its founder and Chairman Mr. Lin Muqin, the company has evolved, turning Eastroc Energy Drink into a household name with a passionate consumer following. From humble beginnings, Eastroc has aggressively positioned itself as a leader in the functional beverage sector, showcasing exceptional growth that ranks it number one among the world's top 20 listed soft drink companies in terms of revenue growth rate.

The company's iconic slogan, "When you're tired or sleepy, reach for Eastroc," resonates with many, serving as a go-to energy source for countless Chinese consumers—long-haul drivers, delivery personnel, and night-working professionals alike. This has cemented Eastroc’s position in the daily lives of its consumers, emphasizing its role in fueling a thriving working community.

Partnership with Harvest Capital

Eastroc Beverage's success has not come without support, with Harvest Capital being a key player in its journey. The venture capital firm has remained steadfast as Eastroc’s first and only external institutional investor since 2015, believing in the company's vision to leverage high-frequency consumer engagement combined with robust brand loyalty.

In a significant investment in 2017, Harvest Capital notably injected RMB 350 million into Eastroc. This strategic support paved the way for Eastroc to thrive, and as a testament to their partnership, Harvest joined as a cornerstone investor in Eastroc's landmark Hong Kong listing. This move showcases their unwavering commitment to supporting the brand's envisaged global expansion.

Record-Breaking Performance

The recent financial projections reveal that Eastroc Beverage is on a path of remarkable performance, expecting its 2025 revenue to surpass RMB 20.76 billion—representing over a 31% increase from the previous year. Moreover, the anticipated net profit is projected to be between RMB 4.34 billion and RMB 4.59 billion, marking a growth rate of up to 37.97%. Its expansive distribution network covers nearly 100% of cities at the prefectural level across China, facilitated by 3,200 distributors and 4.3 million active retail outlets, reaching more than 250 million consumers.

A Global Vision

Eastroc's dual listing symbolizes a pivotal juncture in its globalization efforts, aspiring to transcend beyond being a local leader to emerge as a formidable global beverage enterprise comparable to renowned brands like Coca-Cola and Suntory. The company has already extended its footprint to over 30 countries with overseas entities established in regions such as the United States, Indonesia, and Vietnam. The funds raised from the Hong Kong IPO will be aimed at expanding global production capacity and enhancing its supply-chain effectiveness, bolstering a dual-engine model of overseas manufacturing along with distribution.

In a statement, Mr. Alan Song Xiangqian, Chairman of Harvest Capital, noted, "This dual listing signifies the rise of China's functional beverage sector on the international stage. As a dedicated stakeholder, we are excited to support Eastroc in its global journey, emphasizing that the globalization of Chinese brands transcends product exports and enhances the value chain and management excellence."

As Eastroc Beverage embarks on this global journey, the future looks promising for the company and the consumers who rely on their products. Congratulations to Eastroc Beverage on this momentous achievement.