Health and Happiness (H&H) International Holdings Ltd
HKEX:1112

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Health and Happiness (H&H) International Holdings Ltd Logo
Health and Happiness (H&H) International Holdings Ltd
HKEX:1112
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Price: 13.13 HKD 4.87% Market Closed
Market Cap: HK$8.5B

Health and Happiness (H&H) International Holdings Ltd
Investor Relations

Health & Happiness (H&H) International Holdings Ltd. engages in the manufacture and sale of pediatric nutritional and baby care products. The company employs 3,315 full-time employees The company went IPO on 2010-12-17. The firm operates through five business segments. The Infant Formulas segment is engaged in the production of infant formulas for children under seven years old and milk formulas for expectant and nursing mothers. The Adult Nutrition and Care Products segment is engaged in the production of vitamins, health supplements, skin care and sports nutrition products for adults. The Probiotic Supplements segment is engaged in the production of probiotic supplements. The Dried Baby Food and Nutrition Supplements segment is engaged in the production of dried baby food products made from natural foods, as well as microencapsulated milk calcium chewable tablets. The Baby Care Products segment is engaged in the production of baby care products.

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1112
Hang Seng (Hong Kong)
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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Aug 27, 2025
AI Summary
Q2 2025

Revenue Growth: H&H International reported first-half 2025 revenue of over RMB 7 billion, growing 4.9% year-on-year, with all three business segments (ANC, BNC, PNC) showing positive growth.

Profitability: EBITDA margin was maintained at a healthy 15.7%, and adjusted net profit grew 4.6% to RMB 363 million, with a 5.2% margin.

Segment Highlights: ANC business led growth, rising 5.9% overall and 13% in Mainland China where Swisse became the #1 brand. BNC (IMF) grew 10%, and PNC (pet nutrition) grew 8.6%.

Channel & Geography: China is the largest market (70% of revenue), with strong growth in IMF, pet nutrition, and nutritional products. Expansion markets grew 18.6%. ANZ local market grew single digits, offsetting Daigou channel declines.

Guidance Affirmed: Management reiterated full-year guidance for high single-digit revenue growth, ~15% EBITDA margin, and ~5% adjusted net profit margin.

Dividend & Refinancing: Interim dividend of HKD 0.19/share announced. Completed USD 300 million refinancing, expected to lower interest costs and leverage.

Future Focus: Continued investment in product innovation, channel diversification, and premiumization across markets. Management confident in meeting full-year targets.

Key Financials
Revenue
RMB 7 billion+
EBITDA
RMB 1.1 billion
EBITDA Margin
15.7%
Adjusted Net Profit
RMB 363 million
Adjusted Net Profit Margin
5.2%
Operating Cash Flow (as % of Adjusted EBITDA)
100.2%
Dividend
HKD 0.19 per share
Inventory Turnover Days
131 days
Finance Cost
RMB 293 million
Leverage Ratio
3.89x
ANC Revenue Growth (Mainland China)
13%
IMF Revenue Growth
10% (first half 2025)
PNC Business Revenue Growth
8.6%
Solid Gold Revenue Growth (China)
17.5%
Other Earnings Calls
2025

Management

Mr. Fei Luo
Executive Chairman of the Board
No Bio Available
Mr. Yidong Wang
CFO & Executive Director
No Bio Available
Mr. Akash Bedi
CEO & CEO of Europe, North America, Middle East and India
No Bio Available
Dr. Johannes Jacobus Cappon
Chief Technology Officer
No Bio Available
Ms. Joy Tsai
Director of Investor Relations
No Bio Available
Ms. Pascale Laborde
Chief Growth & Sustainability Officer and Director of Global Marketing and Communications
No Bio Available
Mr. Qizhang Zhang
Chief People Officer
No Bio Available
Mr. Charles Ravel
Managing Director for North America & Asia
No Bio Available
Ms. Fengting Li
Chief Executive Officer for China
No Bio Available
Mr. Nicholas Russell Lamande Mann
Chief Executive Officer for Asia, Australia & New Zealand
No Bio Available

Contacts

Address
Suites 4007-09, 40/F, One Island East, Taikoo Place, 18 Westlands Road, Quarry Bay
Contacts
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