Core Insights - H&H International Holdings Limited reported a 12.3% year-on-year revenue growth to RMB 10.805 billion for the first three quarters of the year, driven by strong performance across its three core business units [2] - The Chinese market contributed 71.0% of total revenue, with a year-on-year growth of 20.6%, while the expansion markets saw a remarkable 19.0% growth, particularly with nine Asian markets growing by 64.4% [2] Revenue Breakdown - Nutritional supplements remain the main revenue driver, accounting for 64.5% of total revenue, with vitamins, herbal and mineral supplements, and pet supplements achieving year-on-year growth of 6.0% and 14.2% respectively [4][5] - The Adult Nutrition and Care (ANC) segment grew by 6.0%, supported by double-digit growth in both the Chinese and expansion markets [7] - The Baby Nutrition and Care (BNC) segment experienced a 24.0% growth, with infant formula sales in mainland China increasing by 35.2% [7] - The Pet Nutrition and Care (PNC) segment grew by 8.2%, with Zesty Paws maintaining its leading position in North America with a 12.4% year-on-year growth [7] Financial Health - The company is actively pursuing a deleveraging process, having repaid RMB 150 million of USD syndicated loans in September and an additional RMB 150 million in October, improving its debt structure and financing efficiency [7] - As of September 30, the company had cash reserves of RMB 1.74 billion, ensuring robust liquidity for long-term development [7] Strategic Focus - The company plans to increase investment in scientific innovation and continue its "whole family nutrition and health" strategy, aiming to meet diverse nutritional needs and solidify its market leadership [7] - In the ANC segment, the company will leverage product innovation and online channel expansion to adapt to changing consumer trends and maintain its leading position in the overall VHMS market [8] - The PNC segment will focus on high-end pet food and nutrition, enhancing cross-border e-commerce efforts to sustain growth [10] - The BNC segment will continue to leverage e-commerce and offline channels, with a focus on educating new mothers to strengthen market position and share [10]

Core Insights - H&H International Holdings Limited reported a revenue growth of 12.3% year-on-year to 10.805 billion RMB for the first three quarters of the year, driven by strong performance across its three core business units [2][5] - The Chinese market contributed significantly, accounting for 71.0% of total revenue with a year-on-year growth of 20.6%, while expansion markets showed impressive growth of 19.0%, particularly in nine Asian markets which grew by 64.4% [2][5] Revenue Breakdown - Nutritional supplements remain the main revenue driver, contributing 64.5% to total revenue, with vitamins, herbal and mineral supplements, and pet supplements achieving year-on-year growth of 6.0% and 14.2% respectively [5] - The Adult Nutrition and Care (ANC) segment grew by 6.0%, supported by double-digit growth in both the Chinese and expansion markets [7] - The Baby Nutrition and Care (BNC) segment saw a significant year-on-year growth of 24.0%, with infant formula sales in mainland China increasing by 35.2% [7] - The Pet Nutrition and Care (PNC) segment grew by 8.2%, with Zesty Paws maintaining market leadership in North America with a growth of 12.4% [7] Financial Health - The company is actively pursuing deleveraging, having repaid 150 million RMB of USD syndicated loans in September and an additional 150 million RMB in October, improving its debt structure and financing efficiency [7] - As of September 30, the company had cash reserves of 1.74 billion RMB, ensuring robust liquidity for long-term development [7] Strategic Focus - H&H Group plans to increase investment in scientific innovation and continue its "whole family nutrition and health" strategy, aiming for sustainable growth in core brands and categories to meet diverse nutritional needs [7][8] - The ANC segment will leverage product innovation and online channel expansion to maintain its leading position in the overall VHMS market [8] - The BNC segment will continue to grow through e-commerce and offline channels, focusing on educating new mothers to solidify market share [10] - The PNC segment will maintain its growth trajectory by focusing on high-end pet food and nutrition products, enhancing cross-border e-commerce efforts [12]

Core Insights - H&H International Holdings reported a revenue of 10.805 billion RMB for the first nine months of the year, reflecting a year-on-year increase of 12% based on reported standards and 12.3% based on comparable standards [1][1][1] - The company’s high-margin nutritional supplements accounted for 64.5% of total revenue, with vitamins, herbal and mineral supplements, and pet nutrition categories growing by 6% and 14.2% respectively on a comparable basis [1][1][1] - The company anticipates continued growth in the adult nutrition and care products segment in China, while infant nutrition and care products are expected to benefit from e-commerce and marketing activities in specialty stores [1][1][1] - The pet nutrition and care products segment is expected to maintain its momentum through a focus on high-end pet food and nutrition categories, as well as strengthening its presence in cross-border e-commerce channels [1][1][1]

Core Viewpoint - H&H International Holdings reported a 12% year-on-year increase in revenue for the first nine months of the year, driven by strong performance in the nutritional supplements segment, which accounted for 64.5% of total revenue [1] Financial Performance - Revenue for the first nine months reached 10.805 billion RMB, with a reported year-on-year increase of 12% and a like-for-like increase of 12.3% [1] - The nutritional supplements segment, which has a higher profit margin, contributed significantly to the revenue, while vitamin, herbal, and mineral supplements grew by 6% and pet nutrition products increased by 14.2% on a like-for-like basis [1] Market Outlook - The company expects continued growth in the adult nutrition and care products segment in China [1] - For the infant nutrition and care products segment, sales of infant formula are anticipated to maintain growth due to e-commerce and marketing activities in specialized baby stores [1] - In the pet nutrition and care products segment, SolidGold is expected to sustain its momentum by focusing on high-end pet food and nutrition products while enhancing its presence in cross-border e-commerce channels [1]

Core Insights - H&H International Holdings (01112) reported a 12.0% year-on-year increase in total revenue for the nine months ending September 30, 2025, reaching RMB 10.805 billion, with a 12.3% increase on a like-for-like basis [1] Revenue Breakdown - All business segments recorded positive growth, with the high-margin nutritional supplements accounting for 64.5% of total revenue [1] - The vitamins, herbal and mineral supplements, and pet nutrition categories achieved revenue growth of 6.0% and 14.2% on a like-for-like basis, respectively [1] Segment Performance - The adult nutrition and care products segment grew by 5.2% on a reported basis and 6.0% on a like-for-like basis, driven by strong double-digit growth in mainland China and expanding markets [1] - The infant nutrition and care products segment accelerated its growth, with a 24.0% increase, primarily due to a 33.3% year-on-year growth in infant formula milk powder [1] - The infant probiotics and nutritional supplements business saw a reduced decline of 2.3%, with a return to strong double-digit growth in the last three months of the reporting period [1]

Core Insights - H&H International Holdings (01112) reported a 12.0% year-on-year increase in total revenue for the nine months ending September 30, 2025, reaching RMB 10.805 billion [1] - All business segments experienced positive growth, with the high-margin nutritional supplements accounting for 64.5% of total revenue [1] - The adult nutrition and care products segment grew by 5.2% year-on-year, driven by strong double-digit growth in mainland China and expanding markets [1] - The infant nutrition and care products segment accelerated its growth to 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 business saw a reduced decline of 2.3%, with a return to strong double-digit growth in the last three months of the reporting period [1]