Core Viewpoint - H&H International Holdings reported a 12.0% year-on-year increase in total revenue for the nine months ending September 30, 2025, driven by strong growth in its infant nutrition and care products segment, particularly in infant formula milk powder [1] Group 1: Financial Performance - Total revenue reached RMB 10.805 billion, with a 12.3% increase on a like-for-like basis [1] - The infant nutrition and care products segment experienced a significant growth rate of 24.0%, primarily due to a 33.3% year-on-year increase in infant formula milk powder sales [1] - The infant probiotics and nutritional supplements segment saw a reduced decline of 2.3%, with a strong double-digit growth resurgence in the last three months of the reporting period [1] Group 2: Market Outlook - According to Founder Securities, the infant formula milk powder industry is currently under pressure due to demand factors, but H&H's sales in this category increased by 10.0% year-on-year in the first half of 2025, outperforming the industry average [1] - The strong sales performance of Stage 1 and Stage 2 infant formula milk powder is a key driver of this growth [1] - The ongoing implementation of childcare subsidy policies is expected to improve demand for infant formula milk powder, with H&H's products likely to maintain a growth trajectory, while the infant probiotics and nutritional supplements are anticipated to gradually return to a growth path [1]
港股异动 | H&H国际控股(01112)再涨超4% 公司婴幼儿相关产品增长势头加快 婴配粉销售远超行业平均水平