Nongfu Springs Sees Profits Flood in as Beverage Industry Recovers From Pandemic

Chinese bottled water giant Nongfu Spring Co. Ltd. reported an uptick in revenues and profit in 2021, as the beverage industry continued to recover from the fallout of the pandemic. 

Hong Kong-listed Nongfu’s revenues in 2021 totaled 29.7 billion yuan ($4.7 billion), up 29.8% from the previous year when transportation and sales of some of its products was hit by the double whammy of sporadic Covid-19 flare-ups and flood disasters in several provinces, according to the company’s latest financial report released Monday. It marked its highest revenue growth in four years.