Nongfu Spring is a Chinese bottled water and beverage company headquartered in Xihu District, Hangzhou, Zhejiang province. It is owned and chaired by founder Zhong Shanshan. As reported by Reuters, Nongfu Spring filed an initial public offering with the Hong Kong Stock Exchange.
The company raised approximately US2bn by pricing its IPO at the HKD21.50/share, at the top end of its IPO range.
As set out in it its prospectus, the company recorded revenue of 24 billion yuan (US$3.4 billion) in revenue in 2019, up from 20.47 billion yuan a year earlier.
The prospectus shows Nongfu Spring recorded profit of 4.95 billion yuan in 2019, a 20.6% increase on its 3.61 billion yuan profit the previous year. The company was established on September 26, 1996.
It launched its first packaged drinking water product in 1997 with water sourced from Zhejiang Thousand-Island Lake and became a joint stock company Nongfu Spring Co., Ltd in 2001.
Nongfu Spring’s first packaged drinking water product was launched in 1997. The company ceased to remove natural minerals from its bottled water in 1999 and marketed its water products as natural water. Nongfu Spring now offers a full range of water products from its 10 natural water sources across China.
According to en.wikipedia