The project is located in the Nyingchi city, Tibet autonomous region with investment of 28.2 millions USD. The project was signed with local government in November 2023 for the construction of nongfu spring production base. The project proposes to intorduce krones filling line, bottle conveyor system, case conveyor system，pallet conveyor system. The production base's packaging drinking water design capacity is 500000 tons and it has been registered subsidiary of Nongfu spring.
On November 28th, 2023, Nongfu Spring (Nyingchi Tibet) Drinking Water Co., Ltd. was established with a registered capital of 2.8 million USD and is 100% controlled by Nongfu Spring Co., Ltd. Its business scope includes beverage production, food production, food sales, etc.
The relevant person in charge of the Nongfu spring has said that the cooperation with nyingchi city is based on trust for nyingchi natural water quality test results, relying on the Nongfu spring’s leading equipment level, strong supply chain management ability and strict quality assurance system and will transport the water which come from the ridge of the world "Nyingchi perfect water" to customers around the world.
According to the 2023 financial report released by Nongfu Spring, the annual revenue in 2023 was 6 billion USD, up 28.4% year on year; the net profit was 1.7 billion USD, up 42.2% year on year and the net interest rate increased by 2.79 percentage points year on year to 28.3%. Among them, packaged drinking water contributed to the total revenue of 2.9 billion USD, up 10.9% year on year, accounting for 54.9% of the revenue.
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