Morgan Stanley holds Nongfu Spring stock at HKD 45.00 target
Published on 10/22/2026 at 10:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and operating growth
- Morgan Stanley maintained a Hold rating and set a HKD 45.00 target on October 16, 2026.
- Tea revenue increased 30.10 percent to RMB 13.122 billion in the first half of 2026.
- Nongfu Spring stock trades at EUR 4.55 at 9:49 a.m. CEST at Lang & Schwarz on October 22, 2026.
Nongfu Spring (CNE100004272) is trading at EUR 4.55 at Lang & Schwarz in pre-market trading on October 22, 2026. Morgan Stanley analyst Lillian Lou maintained a Hold rating and set a HKD 45.00 price target on October 16, 2026, according to Markets Insider.
Tea drives first-half growth
The latest operating picture is led by tea rather than packaged water. For the six months ended June 30, 2026, revenue reached RMB 29.718 billion, up 16.00 percent from RMB 25.622 billion a year earlier, while profit attributable to owners rose 16.60 percent to RMB 8.887 billion, FilingReader reported on September 24, 2026.
Tea revenue increased 30.10 percent to RMB 13.122 billion and represented 44.20 percent of group revenue in the first half of 2026. Packaged drinking water revenue rose 2.10 percent to RMB 9.641 billion, representing 32.40 percent of total revenue, creating a clear contrast between the two largest product categories.
What does the target imply?
Morgan Stanley's HKD 45.00 target sits above the HKD 40.08 Hong Kong quote reported by the finance data snapshot for October 22, 2026, although the target is an analyst view rather than a company forecast. The same interim report showed gross profit of RMB 18.099 billion, up 17.10 percent, with the gross margin at 60.90 percent, according to FilingReader.
Three dated developments
On August 19, 2026, Nongfu Spring distributed the 2025 final dividend of RMB 0.99 per share, according to Moomoo. On September 24, 2026, the company reported first-half revenue of RMB 29.718 billion and profit attributable to owners of RMB 8.887 billion. On October 16, 2026, Morgan Stanley maintained Hold and set the HKD 45.00 target.
Upcoming reporting calendar
The next reporting date is not stated in the dated sources used here. The most recent completed reporting milestone remains the interim report for the six months ended June 30, 2026, while the August 19, 2026 dividend payment is the latest dated shareholder distribution.
Stock indication before Xetra
Nongfu Spring stock was trading at EUR 4.55 at Lang & Schwarz on October 22, 2026 at 9:49 a.m. CEST. The primary Hong Kong listing was quoted at HKD 40.08 at 3:45 p.m. HKT on October 22, 2026, with the Hong Kong market open. The company's market capitalization was HKD 450.8 billion and its 52-week range was HKD 37.90 to HKD 56.25 as of October 22, 2026.
The further course of trading is shown by the continuously updated real-time quote of Nongfu Spring stock.
Nongfu Spring stock facts
- Company: Nongfu Spring Co., Ltd.
- ISIN: CNE100004272
- Ticker: 9633
- Primary exchange: HKEX
- Price Lang & Schwarz as of October 22, 2026, 9:49 a.m. CEST: EUR 4.55
- Market capitalization: HKD 450.8 billion (as of October 22, 2026)
- 52-week range: HKD 37.90-56.25 (as of October 22, 2026)
- Sector / Industry: Consumer Defensive / Beverages - Non-Alcoholic
Market context: Latest market reports.
