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.

Income statement · Quarterly
Item	Q2 2026	Q4 2025	Q2 2025	Q4 2024	Q2 2024	Q4 2023	Q2 2023	Q4 2022	Q2 2022	Q4 2021
Total revenue	29,718	26,931	25,622	20,723	22,173	22,205	20,462	16,640	16,599	14,522
Cost of revenue	11,620	10,579	10,166	8,840	9,141	9,108	8,152	7,383	6,761	6,106
Gross profit	18,099	16,352	15,456	11,883	13,032	13,097	12,310	9,258	9,838	8,415
Selling, general and administrative	6,968	6,174	6,078	5,251	5,885	5,793	5,654	5,168	4,488	4,767
Operating income	11,130	10,178	9,378	6,632	7,148	7,304	6,656	4,090	5,350	3,648
EBIT	11,130	10,178	9,378	6,632	7,148	7,304	6,656	4,090	5,350	3,648
EBITDA	12,899	11,832	10,940	8,046	8,463	8,589	7,896	5,385	6,414	4,967
Interest expense	28.6	42.3	24.6	52.0	39.4	70.1	29.7	53.7	22.3	29.0
Pre-tax income	11,737	10,884	10,034	7,646	8,142	8,164	7,524	4,981	6,069	4,028
Income tax	2,850	2,638	2,411	1,762	1,903	1,860	1,749	1,094	1,461	879
Net income	8,887	8,246	7,622	5,884	6,240	6,304	5,775	3,887	4,608	3,149
Net income to common shareholders	8,887	8,240	7,622	5,884	6,240	6,303	5,775	3,885	4,608	3,149
Basic EPS	0.79	0.73	0.68	0.52	0.55	0.56	0.51	0.35	0.41	0.28
Diluted EPS	0.79	0.73	0.68	0.52	0.55	0.56	0.51	0.35	0.41	0.28
Average shares (basic)	11,239	11,245	11,246	11,246	11,245	11,245	11,243	11,242	11,245	11,246
Average shares (diluted)	11,239	11,251	11,246	11,248	11,245	11,248	11,243	11,246	11,245	11,246