Nongfu Spring stock: Bernstein maintains Buy target at HKD 54.00

Published on 10/24/2026 at 03:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Interim revenue rose 16.0 percent to RMB 29.718 billion on September 24, 2026. Nongfu Spring stock saw tea revenue up 30.1 percent in first half 2026.

Growth and analyst view

Bernstein maintained a Buy rating and set a HKD 54.00 target on October 20, 2026.
Tea revenue reached RMB 13.122 billion in the first half of 2026, up 30.1 percent.
Nongfu Spring stock had a Tradegate quote of EUR 4.80 on October 20, 2026 at 2:35 p.m. CEST.

Nongfu Spring, CNE100004272, Illustration mit AI erstellt.

Nongfu Spring (ISIN CNE100004272) generated RMB 29.718 billion of revenue in the first half of 2026, up 16.0 percent year over year, according to FilingReader on September 24, 2026. Bernstein analyst Euan McLeish maintained a Buy rating and set a HKD 54.00 price target on October 20, 2026, as Markets Insider reported.

Interim growth sets the tone

The six-month figures show a clear shift toward beverages beyond packaged water. Gross profit reached RMB 18.099 billion, an increase of 17.1 percent, while the gross margin improved to 60.9 percent, according to FilingReader.

What does tea growth change?

Tea revenue climbed 30.1 percent to RMB 13.122 billion in the first half of 2026, making it the largest reported beverage category at 44.2 percent of revenue. Packaged drinking water revenue rose 2.1 percent to RMB 9.641 billion in the same period, showing why the tea portfolio has become the more important growth engine. The figures were also reported by Moomoo on September 24, 2026.

Three dated signals since September

On September 24, 2026, the interim report showed revenue of RMB 29.718 billion and gross profit of RMB 18.099 billion. On October 2, 2026, Nongfu Spring appointed Havas Malaysia for social and KOL strategy in Malaysia, according to MARKETECH APAC. On October 20, 2026, Bernstein maintained its Buy rating and set the HKD 54.00 target.

Market value and analyst target

The HKEX quotation data put Nongfu Spring's market capitalization at HKD 467.0 billion on October 23, 2026. Its 52-week range was HKD 37.90 to HKD 56.25 on that date, while the HKD 54.00 Bernstein target stood above the reported HKD 41.88 share close cited in the analyst coverage.

Stock context for German investors

The last euro quote from Tradegate stood at EUR 4.80 on October 20, 2026 at 2:35 p.m. CEST. The company is listed on the HKEX under ticker 9633, and its product mix now gives tea revenue a larger role than packaged water in the first-half growth story. The further course of trading is shown by the continuously updated real-time quote of Nongfu Spring stock.