Milestones
Eastroc Beverage IPO Meeting: Four Years to Accompany, Harvest Listed Family Added Industry Champion | Harvest Family
Date: 2021-01-22 Views:
Investment, at its core, is an act of creating value for others—and, through that process, for oneself. Only by committing fully, without preoccupation with immediate gain or loss, can an investor build both a meaningful career and a meaningful life. Empathy, conviction, and long-term partnership are the foundation of enduring investment success.
This is a defining moment for Eastroc Beverage, and one that Harvest Capital is proud to witness. Insight, discipline, and years of patient preparation have shaped this milestone.
On January 21, 2021, Eastroc Beverage—one of Harvest Capital’s portfolio companies—successfully passed the listing committee review and is now preparing for its IPO on the Shanghai Stock Exchange.
Founded in Shenzhen in 1994, Eastroc Beverage specializes in the research, development, production, and sale of beverages. Its product portfolio includes Eastroc Special Drink, Orange Lemon Tea, Pericarpium Citrus drinks, and packaged drinking water. Eastroc Special Drink has long been its flagship product and has grown the company into a national leader in the energy-drink category.
Harvest Capital invested 350 million RMB in 2017, during a pivotal inflection point for Eastroc. Since then, functional beverages have become the fastest-growing segment in China’s soft-drink market—now approaching 60 billion RMB in size with a five-year CAGR of nearly 15 percent.
From 2017 to mid-2020, Eastroc delivered outstanding revenue and profitability growth, significantly outperforming the broader industry. With a distribution network of more than 1,000 distributors and 1.2 million retail endpoints, the company scaled rapidly and became known nationwide for its high-engagement “scan the code to receive red envelopes” campaign, which brought the brand into millions of households.
Eastroc’s upcoming IPO adds another strong listed company to the Harvest Capital ecosystem. Even amid the uncertainty of 2020, Harvest Capital’s consumer-focused portfolio continued to demonstrate resilience and long-term value—reinforcing the firm’s belief in the stability and potential of China’s consumption market.
Reflecting on Eastroc’s trajectory, Harvest Capital founder Alan Song noted:
“If Eastroc continues on its current path, it may grow into a business approaching 10 billion in revenue. Few companies—whether in China or globally—can achieve such scale with a single flagship product. Eastroc is on a promising and exciting road, with the capability and opportunity to lead the industry.”
In 2017, when Eastroc was still competing against Red Bull—then holding more than 60% of China’s energy-drink market—Harvest Capital saw opportunity where others saw barriers. Energy drinks, unlike many other beverage categories, exhibit stable consumer demand and relatively slow category turnover. This creates openings for brands that combine strong product fundamentals with incremental innovation.
Eastroc’s breakthrough came from three pillars:
• Product strength: consistent taste, clear positioning
• Marketing innovation: high-interaction QR code campaigns
• Channel excellence: step-by-step national expansion supported by Harvest Capital
Harvest Capital works as a “co-founder mindset” investor, supporting portfolio companies not only with capital but with long-term operational value.
For Eastroc, Harvest Capital:
• Facilitated strategic collaboration with Qiaqia Food to build a joint fund and unlock cross-channel advantages
• Connected Eastroc with Meiyijia convenience stores for the launch of new products
• Encouraged the development of the 500ml “large-bottle” format, contributing to over 60 million RMB in revenue
• Provided advisory support on strategy, digital marketing, channel optimization, and user engagement
Every step Eastroc has taken—whether in channels, terminals, or brand building—has been grounded in disciplined execution and long-term planning.
The Rise of a National Energy-Drink Champion
As Eastroc prepares for its listing, it is accelerating toward its next goal: building a single product capable of reaching tens of billions in revenue and shaping a national champion of China’s energy-drink industry.
Founder Lin Muqin once said:
“Successful products are never created overnight. They require years of focus—eight years, ten years, sometimes longer. Only long-term dedication allows a company to move faster when others slow down.”
Over four years of partnership, Harvest Capital has deepened its understanding of the beverage industry and sharpened its investment methodology.
Harvest Capital has always prioritized diligence, discipline, and long-term thinking. The firm never rushes to follow trends or speculate on short-term momentum. Instead, it focuses on discovering value with patience and creating value with conviction.
As Alan Song emphasizes within the team:
“When the choice is right and the heart is sincere, time will take care of the rest.”
As a dedicated investor in the consumer and modern services sectors for more than fourteen years, Harvest Capital has built a reputation for rigorous due diligence, steadfast partnership, and operational support. Portfolio companies such as Eastroc Beverage, Easyhome, Babi Food, Laoxiangji, Wenheyou, Aimer, Newpearl Group, and many others are the medals forged through years of collaboration—each shining brighter over time.
Harvest Capital believes not only because it sees, but because it chooses to believe in potential before it is obvious.
This is Eastroc’s moment.
Harvest Capital congratulates Eastroc Beverage—and looks forward to celebrating more IPO milestones across the Harvest Capital family in the years ahead.
Related information
