Eastroc expected net profit growth of up to 69 percent amid IPO rumors

Chinese energy drink maker Eastroc Beverage expects its 2024 net profit to rise up to 69 percent year-on-year at 3.45 billion yuan (HK$3.67 billion) following rumors of its plan to list in Hong Kong.

The company anticipated it will receive more than 20 billion yuan in cash from the product sales, with an estimated operating income up to 16.1 billion yuan, up 43 percent year-on-year.

Earlier, Bloomberg reported Eastroc was considering a listing in Hong Kong to raise up to US$1 billion (HK$7.8 billion) after a previous plan for a Swiss share sale did not materialize.

Shanghai-listed Eastroc is seeking to hire banks to help prepare for a potential Hong Kong share sale that could take place as soon as next year, according to the report.

STAFF REPORTER AND BLOOMBERG