Nongfu Spring earnings
MyStockButler's October 2026 analysis: In the six months ended June 2026, revenue rose approximately 16.0%, net income rose 16.6%, and diluted earnings per share increased from RMB0.68 to RMB0.79. The next release will show whether sales and profit clear management’s reported double-digit hurdle and whether second-half profit reaches roughly RMB9.12 billion implied by consensus.
What has Nongfu Spring guided for 2026?
Nongfu Spring’s latest reported aim is double-digit growth in both sales and net profit in 2026.
“Double-digit” means at least 10% growth from the previous year. It is a hurdle, not a precise forecast: management has not said whether growth will be 10% or 15%, or how much each product must contribute.
What promise has Nongfu Spring delivered?
A clearer promise delivered was the 2025 dividend of RMB0.99 per share, approved by shareholders and paid in August 2026. The remaining question is whether compensation rewards lasting value per share, rather than merely continued employment.
What is Nongfu Spring’s revenue and profit trend over the last eight reported periods?
The six months ended June 2026 should be compared with the same six months a year earlier, because weather, holidays and distributor stocking distort adjacent periods. Revenue rose approximately 16.0%, net income rose 16.6%, and diluted earnings per share increased from RMB0.68 to RMB0.79.
| 6 months to Jun 2026 | 6 months to Dec 2025 | 6 months to Jun 2025 | 6 months to Dec 2024 | 6 months to Jun 2024 | 6 months to Dec 2023 | 6 months to Jun 2023 | 6 months to Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29,718.1 | 26,930.709 | 25,622.201 | 20,722.908 | 22,173.084 | 22,204.796 | 20,462.425 | 16,640.426 |
| Gross margin | 60.9% | 60.7% | 60.3% | 57.3% | 58.8% | 59.0% | 60.2% | 55.6% |
| Net income | 8,886.846 | 8,246.192 | 7,622.082 | 5,883.725 | 6,239.579 | 6,304.077 | 5,775.421 | 3,886.925 |
| EPS, diluted | 0.79 | 0.73 | 0.68 | 0.52 | 0.56 | 0.56 | 0.51 | 0.35 |
| = Free cash flow | 6,928.977 | 7,445.373 | 7,056.159 | 1,816.721 | 2,655.615 | 6,306.864 | 6,175.203 | 3,714.022 |
What should you watch in Nongfu Spring’s next release?
The immediate checkpoint is the year ending December 31, 2026. Results will show whether sales and profit clear management’s reported double-digit hurdle and whether second-half profit reaches the roughly RMB9.12 billion implied by consensus.