H&H Group reports strong revenue growth, significant debt reduction

Health and Happiness (H&H) International Holdings Limited reported a 12.0% year-on-year increase in total revenue to RMB10,805.3 million for the nine months ended 30 September 2025, driven by positive growth across all business segments. High-margin nutritional supplements contributed 64.5% of revenue, with VHMS and pet supplement categories showing 6.0% and 14.2% LFL revenue growth, respectively. The adult nutrition and care (ANC) segment grew by 5.2% (6.0% LFL), while the baby nutrition and care (BNC) segment accelerated by 24.0%, primarily from a 33.3% rise in infant milk formula (IMF) business.

The company's pet nutrition and care (PNC) segment increased by 8.2% LFL, contributing 14.7% to total revenue, boosted by 12.4% LFL growth in Zesty Paws sales in North America. Geographically, Chinese mainland revenue surged by 20.6%, becoming the largest market. North America revenue increased by 5.9% LFL, and other territories saw a 19.0% LFL increase, propelled by strong growth in Asian expansion markets.

H&H Group also demonstrated a commitment to debt reduction, making voluntary prepayments of RMB152 million on its USD term loan in both September and October, while maintaining a healthy cash balance of RMB1.74 billion as of 30 September 2025.