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Nongfu Spring Co., Ltd. Class H (9633) Price & Analysis
9633 Stock Chart & Stats
- Day’s Range
- HKD 40.02 - HKD 42.40
- 52-Week Range
- HKD 37.90 - HKD 56.25
- Previous Close
- HKD 39.98
- Volume
- 5.26M
- Average Volume (3M)
- 4.76M
- Market Cap
- HKD 476.18B
- Enterprise Value
- HKD 414.19B
- Total Cash (Recent Filing)
- HKD 32.19B
- Total Debt (Recent Filing)
- HKD 5.27B
- Price to Earnings (P/E)
- 23.8
- Beta
- 0.51
- Next Earnings
- Mar 30, 2027
- EPS Estimate
- 0.97
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 2.67%
Bulls Say, Bears Say
Bulls Say
High Profitability
Very high gross and net margins indicate strong brand pricing power and effective cost control in a scaled beverage business. This profitability provides a durable buffer against operating pressure and supports continued investment in products, distribution, and shareholder returns.
Long-term Earnings Expansion
The substantial increase in net income over five years demonstrates that Nongfu Spring has expanded its earnings base, not merely delivered a single strong period. Recent revenue re-acceleration also supports ongoing scale benefits across its beverage portfolio and channels.
Conservative Balance Sheet And Cash Generation
Low leverage gives the company financial resilience and flexibility, while strong operating and free cash flow support reinvestment and shareholder distributions. Together, these characteristics reduce dependence on external financing and strengthen the business through changing demand conditions.
Bears Say
Uneven Revenue Momentum
The sharp difference between nearly flat 2024 revenue and stronger 2025 growth shows that demand and volume momentum can vary materially between years. Such uneven progression makes near-term growth less predictable and could complicate planning for capacity, marketing, and distribution investment.
Volatile Cash Conversion
Although 2025 cash generation was strong, the prior-year decline shows that reported earnings do not always convert consistently into free cash flow. Working-capital or timing swings can reduce funding available for reinvestment and shareholder returns, creating variability in financial flexibility.
Margin Sustainability Risk
Current returns and margins are exceptionally strong, but the analysis explicitly warns that such performance may be difficult to maintain over time. Any normalization in margins would reduce earnings growth and capital efficiency, weakening the durability of the company’s present advantage.
Nongfu Spring Co., Ltd. Class H News
Nongfu Spring Earns Buy Rating as Strong 1H26 Beat, Tea-Led Profit Growth, and Margin Expansion Support Slight Target Price Increase
Nongfu Spring Co., Ltd. Class H, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Miao Zhang from CMB International Securities maintained a Buy rating
Nongfu Spring: Robust FY25 Beat and Expanding Tea & Juice Growth Engines Underpin Continued Buy Rating
Nongfu Spring Co., Ltd. Class H, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Miao Zhang from CMB International Securities maintained a Buy rating
9633 FAQ
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Nongfu Spring Co., Ltd. Class H Stock Smart Score
Company Description
Nongfu Spring Co., Ltd. Class H
Nongfu Spring Co., Ltd., founded in 1996 and headquartered in Hangzhou, China, primarily manufactures and distributes packaged drinking water and a diverse range of beverage products across Mainland China. Its business activities are structured into five main segments: Water Products, Ready-To-Drink Tea Products, Functional Drinks, Juice Beverages, and a broader 'Other Products' category. The company's extensive portfolio encompasses various tea and fruit juice lines, specialized functional beverages, and other drinks such as soda water, sparkling flavored options, coffee, and plant-based yogurts. Nongfu Spring also ventures into agricultural products, specifically fresh fruits, and offers supply chain management services. The company operates as a subsidiary of Yangshengtang Co., Ltd.
- Sector
- Consumerdefensive
- Industry
- Beverages - Non-Alcoholic
- CEO
- Shanshan Zhong
- Employees
- 30,000
- Website
- www.nongfuspring.com
- Address
- No.181 Geyazhuang Road, Hangzhou, ZH, 310024, CN
Nongfu Spring Co., Ltd. Class H (9633) Earnings & Revenues
9633 Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 13 | 5 | 4 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 10 | 0 | 2 |




