Eastroc Beverage (Group) Co., Ltd. (605499.SH) and Muyuan Foods Co., Ltd. (002714.SZ) are reportedly planning to commence their pre-listing roadshows for a Hong Kong listing as early as this week.
Market rumors suggest Eastroc Beverage aims to raise $1 billion (approximately HK$7.8 billion), while Muyuan Foods is targeting a $1.5 billion (approximately HK$11.7 billion) fundraising.
Eastroc Beverage is expected to begin bookbuilding during the week of January 26.
Muyuan Foods received approval from the China Securities Regulatory Commission for its Hong Kong listing in November of last year.
According to its prospectus, Eastroc Beverage is China's leading functional beverage company and has achieved the highest revenue growth rate among the world's top 20 publicly listed soft drink companies.
A Frost & Sullivan report indicates that, by sales volume, Eastroc Beverage has ranked first in China's functional beverage market for four consecutive years since 2021, with its market share increasing from 15.0% in 2021 to 26.3% in 2024.
Measured by retail sales value, Eastroc Beverage was the second-largest functional beverage company in 2024, holding a 23.0% market share, thereby continuously consolidating its leading position.
The prospectus describes Muyuan Foods Co., Ltd. (002714.SZ) as a technology-driven pork industry leader and a pioneer in intelligent pig farming.
The company employs a vertically integrated business model that covers the entire pork industry chain, spanning pig breeding, hog farming, feed production, and slaughtering and meat processing.
Its primary product is commercial hogs sold under its swine business segment.
For the years 2022, 2023, 2024, and the six-month periods ending June 30, 2024, and 2025, revenue from commercial hogs (before inter-segment eliminations) accounted for 92.8%, 96.5%, 95.2%, 93.0%, and 92.7% of its total revenue, respectively.
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