Morgan Stanley keeps Hold on Nongfu Spring stock at HKD 45 target

Published on 10/19/2026 at 10:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half revenue reached RMB 29.718 billion, up 16.0 percent year over year. Nongfu Spring stock costs EUR 4.67 on October 19, 2026.

Growth and valuation markers

Morgan Stanley maintained a Hold rating and set a HKD 45.00 target on October 16, 2026.
Revenue reached RMB 29.718 billion in the first half of 2026, up 16.0 percent year over year.
Nongfu Spring stock traded at EUR 4.67 at 10:20 a.m. CEST at Lang & Schwarz on October 19, 2026.

Nongfu Spring, CNE100004272, Illustration mit AI erstellt.

Nongfu Spring (ISIN CNE100004272) was trading at EUR 4.67 at Lang & Schwarz on October 19, 2026 at 10:20 a.m. CEST. 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.

Revenue shifts toward beverages

Nongfu Spring generated RMB 29.718 billion in revenue during the six months ended June 30, 2026, a 16.0 percent increase from RMB 25.622 billion in the same period of 2025. Gross profit rose 17.1 percent to RMB 18.099 billion, while the gross margin reached 60.9 percent, according to FilingReader.

The product mix supplied a clear operating contrast. Beverage revenue increased 24.1 percent to RMB 19.948 billion, while packaged drinking water revenue rose 2.1 percent to RMB 9.641 billion in the first half of 2026. Profit attributable to owners climbed 16.6 percent to RMB 8.887 billion.

Three dates shape the stock

On August 19, 2026, Nongfu Spring paid a final dividend of RMB 0.99 per share for fiscal year 2025. 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 kept its Hold rating and set the HKD 45.00 target, according to Quartr.

What does the target imply?

The target stood 8.75 percent above the HKD 41.38 closing price cited for October 16, 2026. That spread gives the rating a measurable valuation anchor, while the Hold label signals a more cautious view than the target alone suggests.

The next reporting date

Nongfu Spring is scheduled to release its next earnings report on March 30, 2027, according to TradingView. The date gives investors a defined checkpoint for testing whether beverage growth continues to outpace packaged water.

Euro quote after the Xetra open

Nongfu Spring was trading at EUR 4.67 at Lang & Schwarz on October 19, 2026 at 10:20 a.m. CEST. The company is listed on HKEX as 9633, where the October 16, 2026 close was HKD 41.20.

The further course of trading is shown by the continuously updated real-time quote of Nongfu Spring stock.