Nongfu Spring

9633 · HKEX · HKD

$39.54−0.75%−$0.30

Close · October 2, 2026

At a glance

Revenue growth: +22.51%; 2025 vs 2024
Net income growth: +30.89%; 2025 vs 2024
Net margin: 30.2%; 2024: 28.3%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q4 2025	Q2 2025	Q4 2024	Q2 2024	Q4 2023	Q2 2023	Q4 2022	Q2 2022	Q4 2021
Total assets	76,573	65,169	64,394	53,160	56,066	49,137	49,100	39,255	38,507	32,896
Current assets	40,748	26,564	26,524	19,072	24,044	28,461	28,349	18,361	21,481	17,836
Cash and equivalents	21,080	11,178	14,906	10,722	16,601	24,125	24,646	15,211	18,712	14,784
Short-term investments	—	80.8	4,234	116	—	106	—	82.1	—	106
Receivables	901	1,452	836	1,344	703	671	603	634	645	661
Inventory	6,214	5,846	5,104	5,013	3,337	3,092	2,393	2,108	1,722	1,809
Net property, plant and equipment	28,532	25,982	24,745	22,110	20,307	18,127	16,910	16,251	14,564	13,524
Other intangible assets	72.5	80.9	161	71.6	73.0	74.2	74.2	58.1	62.2	65.1
Long-term investments	5,426	11,088	11,505	10,631	10,527	1,511	2,828	4,102	1,943	1,121
Current liabilities	38,528	24,823	32,135	19,985	28,994	19,877	26,301	14,601	17,836	11,589
Accounts payable	2,076	1,654	1,919	1,499	1,859	1,770	1,754	1,425	1,640	1,153
Total debt	87.8	103	132	122	89.4	89.3	82.4	99.9	79.2	90.0
Total liabilities	39,407	25,699	33,023	20,873	29,665	20,566	26,843	15,171	18,341	12,154
Total equity (incl. minority)	37,166	39,470	31,370	32,287	26,401	28,571	22,257	24,084	20,166	20,742
Retained earnings	27,811	30,058	21,812	22,737	16,853	19,049	12,745	14,617	10,730	11,182