According to Ping An Securities Research Report, Dongpeng Beverage achieved net profit of 980 million yuan in 25Q1, an increase of 47.62% over the previous year. Expenses are properly controlled, and profit margins continue to rise. The main energy drink business is steady, creating a multi-category matrix. By product, the company's main business revenue mainly comes from energy drinks. 25Q1 energy drinks achieved revenue of 3,901 billion yuan, accounting for 80.50%. The company continues to explore and expand new beverage categories, and has formed a “dual engine” for the energy drink and electrolyte drink business. It also covers tea drinks, vegetable protein drinks, coffee drinks, etc., forming a comprehensive and balanced multi-category product matrix. The company's energy drink circuit is booming, and the nationalization of products is unstoppable. The second growth curve is gradually being cultivated. It is expected that the company will continue to increase its market share with superior products and intensive omni-channel cultivation. Maintain a “Recommended” rating.

According to Ping An Securities Research Report, Dongpeng Beverage achieved net profit of 980 million yuan in 25Q1, an increase of 47.62% over the previous year. Expenses are properly controlled, and profit margins continue to rise. The main energy drink business is steady, creating a multi-category matrix. By product, the company's main business revenue mainly comes from energy drinks. 25Q1 energy drinks achieved revenue of 3,901 billion yuan, accounting for 80.50%. The company continues to explore and expand new beverage categories, and has formed a “dual engine” for the energy drink and electrolyte drink business. It also covers tea drinks, vegetable protein drinks, coffee drinks, etc., forming a comprehensive and balanced multi-category product matrix. The company's energy drink circuit is booming, and the nationalization of products is unstoppable. The second growth curve is gradually being cultivated. It is expected that the company will continue to increase its market share with superior products and intensive omni-channel cultivation. Maintain a “Recommended” rating.