Beverage Giant Nongfu Springs Sees Profit Soar Over 5%, Stock Price Hits New High in January Since 2022, Market Value Surpasses HKD 53 Billion! CGS-CIMB: Benefit from Lower Raw Materials Prices, Nongfu Springs' Profit Growth Continues to Outperform Revenu
Glorious 7/25 | Nongfu Springs (9633.HK) surged 5.57% at the open, hitting HKD 47.4 per share, breaking its new high since January 2022 and exceeding HKD 53 billion in market value. CGS-CIMB recen
Glorious 7/25 | Nongfu Springs (9633.HK) surged 5.57% at the open, hitting HKD 47.4 per share, breaking its new high since January 2022 and exceeding HKD 53 billion in market value. CGS-CIMB recently released a report, predicting that Nongfu Springs' revenue will grow by 18% year-on-year in the first half of this year, with profits growing by 20%. The growth exceeded market expectations, mainly driven by tea drinks and fruit juices exceeding expectations, with profits growing roughly in line with expectations. CGS-CIMB notes that Nongfu Springs benefits from lower raw materials prices, leading to continuous profit growth and slightly outperforming revenue.
