TacticScaleWhat Eastroc Beverage (东鹏饮料) Does & How It Makes Money (605499.SS)
Updated October 2026 · reflects Eastroc Beverage's latest reported financials
Chinese beverage maker best known for Eastroc energy drinks. It earns most of its money by manufacturing branded beverages and selling them through distribution channels in China.
How Eastroc Beverage makes money
It earns most of its money by manufacturing branded beverages and selling them through distribution channels in China. It also earns some revenue from exports, international trade and supply chain management services.
What Eastroc Beverage does
Eastroc Beverage (Group) Co., Ltd. is a Shenzhen-based maker of non-alcoholic drinks. It was founded in 1994 and took its current name in 2018. Energy drinks are its core category, and it has expanded into sports and electrolyte drinks, tea, coffee, milk tea, plant-based protein drinks and fruit and vegetable juices. Its sub-brands include Eastroc eWater, Coffee Master, Roasted Good Tea and Coco Island. The company sells mainly in mainland China. It also exports to the United States, South Korea and several Southeast Asian markets, and runs international trade and supply chain management businesses. It is part of the consumer defensive sector, and its sales depend on everyday spending on affordable packaged drinks.
Products & services
- Eastroc energy drinks
- Eastroc eWater (electrolyte drink)
- Eastroc Coffee Master
- Eastroc Tea and Roasted Good Tea
- Eastroc Milk Tea
- Eastroc Coco Island
东鹏饮料是做什么的？
东鹏饮料（集团）股份有限公司总部位于深圳，成立于1994年，前身为深圳市东鹏饮料实业有限公司，2018年3月更为现名。公司以能量饮料为核心品类，并拓展到运动及电解质饮料、茶饮、咖啡、奶茶、植物蛋白饮料和果蔬汁等领域。旗下产品包括东鹏补水啦（电解质水）、东鹏大咖、东鹏奶茶、东鹏由柑柠檬茶等系列。 公司主要面向中国市场，同时向美国、韩国、马来西亚、越南和印度尼西亚等地出口，并开展国际贸易和供应链管理服务。公司属于必需消费板块，业绩主要取决于大众对平价包装饮料的日常消费。
What is Eastroc Beverage worth?
On an owner-earnings DCF, Eastroc Beverage's most-likely value is about ¥182 versus a recent price near ¥115 (37% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥60) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
One company, two listings
Eastroc Beverage trades in mainland China and in Hong Kong. Same business, same profits — but the two markets can price it at different multiples, because they have different investors, money and reference points.
| Market | Ticker | Price | P/E |
|---|---|---|---|
| Shanghai (A shares) | 605499.SS | ¥114.56 | 16.3× |
| Hong Kong (H shares) | 9980.HK | HK$99.50 | 12.2× |
As of 12 October 2026. Prices in each listing's own currency. Why one profit can carry two prices: Valuation Is Not a Property of the Company.