IPO News | Dongpeng Beverage (605499.SH) Proposes Hong Kong Stock Listing, China Securities Regulatory Commission Requests Additional Explanation on the Use of Personal Information

The Zhitong Finance App learned that on May 9, the China Securities Regulatory Commission announced the disclosure of supplementary materials for overseas issuance and filing (April 25, 2025 to May 9, 2025). The Securities Regulatory Commission requested Dongpeng Beverage (605499.SH) to provide additional information on whether the scope of business of the company and its subsidiaries covers matters such as the “Special Administrative Measures for Foreign Investment Access (Negative List)” (2024 edition), as well as measures to arrange individual user information for products developed and operated by it. According to the Hong Kong Stock Exchange disclosure on April 3, Dongpeng Drinks handed over to the main board of the Hong Kong Stock Exchange, with Huatai International, Morgan Stanley, and UBS Group as co-sponsors.

The Securities Regulatory Commission requested Dongpeng Beverage to further explain the following matters, and ask lawyers to conduct inspections and issue clear legal opinions:

1. Please further explain whether the scope of business of your company and subsidiaries covers the field of “Special Administrative Measures for Foreign Investment Access (Negative List)” (2024 Edition), and whether they continue to meet the requirements of foreign investment access policies before and after this issuance and listing.

2. The business scope of your company and its subsidiaries includes the production and sale of alcohol. Please specify whether your company and its subsidiaries are engaged in the production and sale of liquor. If so, please explain the situation in detail.

3. Please further explain the status of websites, apps, applets and other products developed and operated by your company and affiliated companies, the scale of collected and stored user information, data collection and use, and whether it involves providing personal user information to third parties, personal information protection and data security arrangements or measures before and after listing.

4. Please provide additional information on the progress of the approval, approval or filing of domestic fund-raising projects issued this time.

According to the prospectus, Dongpeng Drinks is China's number one and the world's leading energy drink company, and its revenue growth rate ranks first among the top 20 listed soft drink companies in the world. According to Frost & Sullivan's report, in terms of sales, the company ranked first in the Chinese energy drink market for 4 consecutive years since 2021, and its leading position continued to consolidate, and its market share increased from 15.0% in 2021 to 26.3% in 2024.

Dongpeng Drinks has established a three-dimensional sales network covering the whole country. As of December 31, 2024, it has covered nearly 4 million terminal sales outlets across the country, achieving nearly 100% prefecture-level market coverage in China. The company is located in China's soft drink industry. According to the Frost & Sullivan report, retail sales of the Chinese soft drink industry reached about 1.3 trillion yuan in 2024, making it the second largest soft drink consumer market in the world.