IFBH (06603) fell more than 7% to a record low of HK$19.3, marking a decline of over 30% from its IPO price of HK$27.8. As of press time, the stock was down 7.35% at HK$19.42, with a turnover of HK$53.07 million.
Public data shows that IFBH specializes in coconut-based beverages, primarily operating under the brands "if" and "Innococo." According to a CIC report, the company has ranked first in China's coconut water beverage market for five consecutive years since 2020, holding a 34% market share in 2024—more than seven times that of its closest competitor. In Hong Kong, IFBH has maintained the top position for nine straight years since 2016, capturing a 60% market share in 2024. Globally, IFBH was the second-largest coconut water beverage company in 2024.
China Galaxy Securities noted that the coconut water sector continues to see new entrants, with viral brands dominating key retail spaces and high-traffic channels, while smaller players show signs of exiting the market. China Merchants Securities highlighted that while competition in the fast-growing coconut water industry has intensified, IFBH, as the market leader, retains its first-mover advantage with strong brand recognition and quality-driven marketing. Despite current competitive pressures, its position remains relatively stable, though enhancing channel control will be crucial for long-term growth.
Comments