Nongfu Spring Co Ltd Class H Ordinary Shares

09633: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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For Tingyi and Nongfu Spring, Input Costs Remain a Key Swing Factor for 2026 Profit

Jacky Tsang

Jul 24, 2026

We review our 2026 forecasts for Tingyi and Nongfu Spring ahead of their interim results in August.

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Nongfu Spring Co Ltd Class H Ordinary Shares

For Tingyi and Nongfu Spring, Input Costs Remain a Key Swing Factor for 2026 Profit

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