Core Viewpoint - H&H International Holdings (01112) has shown strong revenue growth in Q3 2025, exceeding market expectations, with a notable increase in its debt structure optimization [1] Group 1: Financial Performance - For the first three quarters of 2025, H&H International Holdings reported a revenue increase of 12.3% year-on-year, with Q3 revenue rising by 28.5% [1] - The company's revenue for the first nine months of 2025 reached 10.81 billion yuan, reflecting a 12% year-on-year growth [1] - Q3 2025 revenue was 3.79 billion yuan, marking a 28.1% increase compared to the same period last year [1] Group 2: Business Segments - The company's ANC (Adult Nutrition Category) business is expanding its online channels and overseas markets, maintaining its industry-leading position [1] - The BNC (Baby Nutrition Category) business is showing continuous improvement, with strong growth in ultra-premium infant formula, gaining market share [1] - The PNC (Personal Nutrition Category) is advancing the high-end process in the Chinese market and global layout, with internal profits expected to continue improving [1] Group 3: Future Outlook - The company is expected to achieve a high single to low double-digit revenue growth for the full year, with all three business segments maintaining a positive growth trend [1] - ANC is projected to achieve a mid to high single-digit year-on-year revenue growth for the full year, while BNC is expected to exceed 20% year-on-year growth [1] - PNC is anticipated to see low double-digit year-on-year growth, with the company maintaining a healthy profit margin and optimizing financial costs in 2025 [1]
H&H国际控股涨超5% 三季度婴配奶粉增长超预期 机构预计公司利润端全年有较好表现