Nongfu Spring Set to Gain From Packaged-Water Sales Rebound -- Market Talk

Dow Jones01-06

1018 GMT - Nongfu Spring is benefiting from a revival in sales momentum for packaged water, prompting Morningstar analyst Jacky Tsang to raise his 2025-2026 net profit estimates by 3%-5%. He expects the company to gain market share in the segment, supported by its distribution network and channel partnerships. Tsang forecasts double-digit growth in non-water beverages for 2025. Despite intense market competition due to delivery-platform subsidies, Nongfu Spring is projected to deliver 20% on-year sales growth for 2H in its ready-to-drink tea segment on strong product differentiation and channel expansion, he adds. Morningstar raises its fair value estimate on the stock to HK$41.50 from HK$40.00, and notes the shares appear overvalued. The stock last closed at HK$48.18. (jason.chau@wsj.com)

(END) Dow Jones Newswires

January 06, 2026 05:18 ET (10:18 GMT)

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Despite intense market competition due to delivery-platform subsidies, Nongfu Spring is projected to deliver 20% on-year sales growth for 2H in its ready-to-drink tea segment on strong product differentiation and channel expansion, he adds. Morningstar raises its fair value estimate on the stock to HK$41.50 from HK$40.00, and notes the shares appear overvalued. The stock last closed at HK$48.18. 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He expects the company to gain market share in the segment, supported by its distribution network and channel partnerships. Tsang forecasts double-digit growth in non-water beverages for 2025. Despite intense market competition due to delivery-platform subsidies, Nongfu Spring is projected to deliver 20% on-year sales growth for 2H in its ready-to-drink tea segment on strong product differentiation and channel expansion, he adds. Morningstar raises its fair value estimate on the stock to HK$41.50 from HK$40.00, and notes the shares appear overvalued. The stock last closed at HK$48.18. 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