Dongpeng Beverage A / H shares both fell, Citibank slashed its target price.

Chinese energy drink producer - Dongpeng Beverage Class H shares fell 5.9% in early trading on Monday, trading at 108.2 Hong Kong dollars, hitting a new low since its listing on February 3; its Class A shares fell by as much as 4%, trading at 115.8 RMB, hitting a new low since April 24, 2024, and closing down 2.4% in early trading. Citigroup stated in a report that it has lowered Dongpeng Beverage Class H share's target price from 310.0 Hong Kong dollars to 161.7 Hong Kong dollars, and the Class A share's target price from 270.3 RMB to 140.6 RMB. Due to adverse weather conditions, retail sales of mid-range ready-to-drink beverages slowed down in the second quarter, while promotional activities intensified.