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Chinese bottled-water and beverage maker behind the C'estbon brand, part of state-owned China Resources group.
Chinese bottled-water and beverage maker behind the C'estbon brand, part of state-owned China Resources group.
Bottled water is a low-price, high-volume product, so earnings depend on keeping bottling plants close to customers to hold down freight and on packaging costs. It sells mainly through distributors to retail and convenience stores, with flavoured drinks and tea used to lift average prices.
In one line: China's Nestlé Pure Life / Danone bottled-water arm.
Moat: narrow (brand, distribution, scale). Leading bottled-water brand with broad China distribution, in a crowded, price-sensitive beverage market.
Headquarters: Beijing, China · Employees: 11,374
Size China Resources Beverage (Holdings) (2460.HK) is a Hong Kong Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $2.27B, the 393rd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$7.42 on 6 Nov 2026.
Performance Over six months the shares fell 14.3%, against +4.9% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 19 in its peer set.
Growth Revenue fell 18.6% over the last twelve months (peer median +4.0%); the operating margin is 6.2% (peer median 8.2%).
Valuation It trades at 18.1× forward earnings against a peer median of 15.4× (5th most expensive of 15).
Capital Return on invested capital runs 0.6 points above its cost of capital (8.2% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$11.5B | HK$11.9B | HK$14.7B | HK$14.9B | HK$14.7B |
| Revenue growth | — | -19% | -2% | +2% | — |
| Gross profit | HK$5.29B | HK$5.45B | HK$6.94B | HK$6.36B | HK$5.89B |
| EBITDA | HK$1.68B | HK$1.80B | HK$2.74B | HK$2.26B | HK$1.59B |
| Net income | HK$873M | HK$1.07B | HK$1.77B | HK$1.47B | HK$1.15B |
| Free cash flow | -HK$1.22B | HK$329M | -HK$571M | -HK$569M | HK$41.3M |
| Capital expenditure | HK$1.38B | HK$1.62B | HK$2.15B | HK$2.55B | HK$1.00B |
| Total debt | n/a | HK$47.9M | HK$60.3M | HK$39.6M | HK$30.9M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China Resources Beverage (Holdings) 2460.HK | $2.27B | -14% | -19% | 6% | 18.1× | n/a |
| Nongfu Spring 9633.HK | $64.9B | -1% | +27% | 38% | 24.0× | -0.2% |
| Uni-President China 0220.HK | $4.56B | +12% | +4% | 8% | 14.0× | -8.3% |
| Tingyi 0322.HK | $9.59B | +17% | +4% | 9% | 14.1× | -12.9% |
| China Foods 0506.HK | $1.43B | +8% | +4% | 8% | 10.1× | -17.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2460.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.3% | +8.6% | 6th lowest of 19 |
| 6-month return | -14.3% | +4.9% | 2nd lowest of 19 |
| Distance from 52-week high | -32.7% | -15.8% | 3rd lowest of 19 |
| Revenue growth (TTM) | -18.6% | +4.0% | lowest of 19 |
| Operating margin | 6.2% | 8.2% | 8th lowest of 18 |
| Forward P/E | 18.1× | 15.4× | 5th most expensive of 15 |
| ROIC minus cost of capital | +0.6 pp | +4.1 pp | 8th lowest of 18 |
| EV / EBITDA | 6.9× | 7.4× | 7th cheapest of 16 |
| Net debt / EBITDA | -4.0× | 0.7× | least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Resources Beverage (Holdings) 2460.HK | Hong Kong | $2.27B | -14% | -19% | 6% | 18.1× | n/a | n/a |
| SDIC Zhonglu Fruit Juice 600962.SS | China | $2.62B | -1% | +100% | n/a | n/a | n/a | n/a |
| National Beverage FIZZ | United States | $3.48B | +6% | -2% | 18% | 19.2× | 3.4% | +1.9% |
| China Foods 0506.HK | Hong Kong | $1.43B | +8% | +4% | 8% | 10.1× | -17.0% | +4.3% |
| Fevertree Drinks FEVR.L | United Kingdom | $1.36B | +18% | +2% | 9% | 33.0× | 27.9% | +5.2% |
| Embotelladora Andina S.A. Sponsored ADR Pfd AKO-B | United States | $4.26B | +7% | +10% | 13% | 14.6× | -4.2% | +10.4% |
| Princes PRN.L | United Kingdom | $1.21B | -3% | +30% | 4% | 12.6× | -7.1% | +9.3% |
| Lassonde Industries LAS-A.TO | Canada | $1.14B | +4% | +2% | 9% | 8.9× | -13.2% | +8.2% |
| Uni-President China 0220.HK | Hong Kong | $4.56B | +12% | +4% | 8% | 14.0× | -8.3% | +6.1% |
| Coca-Cola Bottlers Japan 2579.T | Japan | $4.60B | +31% | -2% | 4% | 31.7× | 8.4% | +2.4% |
| Shenzhen Cereals 000019.SZ | China | $1.04B | -20% | +1% | 6% | n/a | 4.6% | -14.3% |
| NATURECELL 007390.KS | South Korea | $1.04B | +14% | -15% | -18% | n/a | n/a | n/a |
| A.G. BARR p.l.c BAG.L | United Kingdom | $887M | -2% | +7% | 15% | 12.4× | n/a | n/a |
| Coca-Cola FEMSA SAB de CV Sponsored ADR KOF | United States | $6.01B | +8% | +17% | 14% | 16.5× | -20.1% | +12.2% |
| LotteChilsung 005300.KS | South Korea | $791M | -9% | +1% | 5% | 11.2× | -2.0% | +12.0% |
| Primo Brands PRMB | United States | $8.10B | -4% | +28% | 10% | 16.2× | 9.2% | +27.8% |
| Celsius CELH | United States | $8.14B | 0% | +83% | 19% | 22.7× | 7.6% | +80.7% |
| DyDo 2590.T | Japan | $624M | +21% | +3% | 4% | 17.3× | n/a | n/a |
| Nanfang Black Sesame 000716.SZ | China | $590M | +2% | +5% | 2% | n/a | 28.5% | -10.1% |