Core Insights - H&H International Holdings Limited reported a revenue of 10.805 billion yuan for the first nine months of 2025, representing a year-on-year growth of 12.3% [1] - The company’s three core business segments—Adult Nutrition and Care (ANC), Infant Nutrition and Care (BNC), and Pet Nutrition and Care (PNC)—all experienced growth, with China remaining the primary revenue source, accounting for 71.0% of total revenue, up 20.6% year-on-year [1] - The company aims to enhance scientific innovation investments to drive growth in adult nutrition, infant formula, and pet nutrition products while optimizing its capital structure [3] Business Segment Performance - ANC segment achieved a revenue of 5.24 billion yuan, growing by 6.0% year-on-year, with Swisse in China growing by 15.7%, driven mainly by e-commerce channels [1][2] - BNC segment revenue reached 3.97 billion yuan, up 24.0% year-on-year, with sales of infant formula in mainland China increasing by 35.2%, outperforming the overall market [2] - PNC segment generated 1.59 billion yuan in revenue, reflecting an 8.2% year-on-year growth, supported by an upgrade in pet consumption structure [2] Financial Health - The company has optimized its capital structure by repaying 300 million yuan (equivalent) of USD syndicated loans ahead of schedule, reducing debt levels and improving financing efficiency [2] - As of the end of September, the company maintained a cash reserve of 1.74 billion yuan, ensuring stable overall liquidity [2]
健合集团前三季度营收108.05亿元 三大业务板块保持高增长动能