HONG KONG, Sep 10, 2025 - (ACN Newswire) – On August 22, Hang Seng Indexes Company officially announced that IFBH Limited ("IFBH", 6603.HK), the parent company of Thailand’s renowned coconut water brand "if," has been included in the Hang Seng Composite Index, with the change taking effect on September 8. This signifies that the company will meet the core access requirements for the Stock Connect program. Referring to past cases, particularly those involving companies with high brand value in mainland China, inclusion in the Stock Connect typically brings an important incremental source of capital from southbound funds. This not only significantly enhances stock liquidity but also broadens the investor base, driving valuations to align with industry leaders.
At this important milestone, IFBH specially organized a large-scale campaign themed "Celebration Moment" — showcasing the brand strength and international vision of IFBH to the market through a light show in Qingdao and synchronized LED screen displays in Hangzhou and Guangzhou. Among them, the Qingdao light show was grandly held from 19:45 to 20:00 on the evening of September 8 at Fushan Bay in Qingdao, serving as "a celebratory tribute dedicated to the special occasion of IFBH's inclusion in the Stock Connect."
Revenue Growth Outpaces Market Segment, Profit Resilience Withstands Short-Term Volatility
Thanks to consumers’ growing awareness of taste and its ability to meet the demand for natural, healthy, functional, and hydrating beverages, the coconut water segment is experiencing rapid growth. In this booming market, IFBH stands as an industry leader. It has maintained the highest market share in China for five consecutive years and ranks as the second-largest company in the global coconut water beverage market, positioning it to capture long-term industry growth.
Recently, IFBH released its 2025 interim results, delivering a performance that demonstrated both growth and resilience in the first half of the year, with its core competitiveness continuing to strengthen.
Based on its revenue performance in the first half of the year, IFBH demonstrated a significant competitive advantage in the health beverage segment. During the Reporting Period, the Company’ total revenue increased by 31.5% year-on-year, outpacing the industry average and underscoring its leading position in this market segment. Among this, the if brand contributed 89% of revenue, while Innococo accounted for 11%.
In terms of revenue structure, IFBH exhibits a dual-engine growth pattern of “core category leadership and new category breakthroughs” . Revenue from its core product, coconut water, reached US$91.51 million, up 33.3% year-on-year, accounting for 96.9% of total revenue and further reinforcing the market perception of “coconut water = if”. Revenue from other beverages, amounted to US$2.257 million, surging 57.2% year-on-year. These demonstrate that the Company’s strategy of expanding from a “single blockbuster” to a “multi-category portfolio” is beginning to show results.
On the profitability front, IFBH's gross profit increased by 15.3% year-on-year in the first half of the year. The adjusted net profit margin remained stable at 20%, placing IFBH in the upper mid-range of the food and beverage industry and highlighting the continued strong profitability of its core business.
It is worth noting that the second half is traditionally the peak season for beverage consumption, IFBH’s profit growth is expected to further align with its revenue growth, with continued expansion in its room for profit flexibility.
On the operational front, IFBH has proactively stocked up in advance to capitalize on the peak summer and National Day consumption periods in the second half of the year, reflecting management’s strong confidence in future market demand.
From intensified marketing efforts and the gradual fading of previous profit-dampening factors to early channel stocking, IFBH is well-positioned for overall favorable development, with high certainty for accelerated growth in the second half of the year.
Sustained Industry Momentum and Multi-Dimensional Strengths Drive Long-Term Growth
From an industry perspective, the global consumer market is undergoing a divergent pattern of “traditional segments under pressure while emerging sectors on the rise”. In this context, the health consumption sector stands out with increasingly strong growth prospects. As the fastest-growing segment in the RTD soft drink market, the coconut water industry in Mainland China is expected to expand steadily with a compound annual growth rate (CAGR) of 20.2% from 2024 to 2029, reaching a market size of US$2.55 billion by 2029. The global coconut water market is also projected to grow at a CAGR of 11.1%, increasing from US$5.0 billion in 2024 to US$8.5 billion in 2029.
IFBH is implementing a dual-brand differentiation strategy with if and Innococo working in synergistic operation. if brand will further expand into foodservice channels, online platforms, etc., fully capturing the growth opportunities in China’s coconut water industry, while the other brand, Innococo, plans to enter the sports drink market while continuing to diversify its beverage offerings, creating a balanced structure of “dual brands + multiple categories”, driving sustained growth in the Company’s performance.
On the other hand, IFBH will accelerate its global expansion. In the first half of the year, the Company saw significant year-on-year revenue growth in markets such as Australia, the United States, and Canada. Looking ahead, IFBH will focus on expanding into Southeast Asia and the Americas. The Company’s asset-light model provides high agility for business expansion. Moving forward, IFBH is expected to replicate its success in the Chinese market and advance toward becoming a global leader in coconut water. For long-term investors, IFBH is not only a high-quality player in the health consumption sector but also a rare option with the potential for sustained growth and resilience through market cycles.
Copyright 2025 ACN Newswire. All rights reserved. www.acnnewswire.com
