Health and Happiness (H&H) International Holdings reported unaudited revenue of RMB 13.45 billion for the nine months ended 30 September 2026, a 24.5% year-on-year increase (24.4% like-for-like, LFL). Nutritional supplements remained the core growth engine, while infant milk formula (IMF) demand in mainland China delivered a sharp rebound.

Segment highlights • Nutritional supplements contributed 59.5% of total sales, rising 14.8% to RMB 8.00 billion. Within this, vitamin, herbal and mineral supplements (VHMS) advanced 17.9% to RMB 6.15 billion; paediatric probiotics and kids’ nutrition grew 9.4% to RMB 0.67 billion; pet supplements added 3.5% to RMB 1.19 billion. • Adult Nutrition & Care (ANC) revenue climbed 17.7% to RMB 6.17 billion, supported by broad-based gains in mainland China and Australia-New Zealand (ANZ) as well as in expansion markets. • Baby Nutrition & Care (BNC) surged 44.6% to RMB 5.74 billion, propelled by a 54.5% rise in mainland China IMF sales to RMB 4.92 billion. Biostime’s share of the domestic super-premium IMF segment reached a record 22.3%, up from 15.4% a year earlier. • Pet Nutrition & Care (PNC) softened, edging down 3.6% to RMB 1.53 billion; however, high-margin pet supplements still posted 8.1% LFL growth.

Geographic performance • Mainland China generated RMB 10.12 billion, up 31.9% year-on-year, driven by strong Swisse sales on Douyin (+52.2%) and robust IMF momentum. • North America delivered RMB 1.35 billion, up 4.7% reported and 9.3% LFL, with Zesty Paws and Solid Gold expanding online and in major retail chains. • ANZ revenue was broadly stable at RMB 1.20 billion (-0.2% reported; ‑4.3% LFL); third-quarter sales returned to growth as domestic ANC demand improved. • Other territories, including key Asian expansion markets, rose 22.0% to RMB 0.78 billion, led by 40.0% LFL growth in nine high-priority markets such as Thailand, the Middle East & India, Indonesia and Malaysia.

Balance-sheet progress H&H reduced gross debt by more than RMB 1.30 billion during the period and held cash reserves above RMB 2.10 billion at 30 September 2026. All outstanding borrowings are now fully covered by RMB-denominated debt or hedges, limiting foreign-exchange and interest-rate exposure.

Management outlook The group intends to sustain investment in product innovation, marketing and channel development to reinforce momentum in high-margin nutritional supplements and IMF lines across core and expansion markets through 2027.

All figures are unaudited operational statistics released by H&H and may differ from future audited results. Investors are advised to exercise caution when interpreting the data.