Citi has issued a research report highlighting that H&H International Holdings (01112) delivered first-half operational data surpassing expectations. On a comparable basis, the company achieved double-digit revenue growth during the period, with adjusted EBITDA rising 60% to 70% and the adjusted EBITDA margin exceeding 20%.

Benefiting from a voluntary early debt repayment and an improved debt structure leading to lower financial costs, the firm anticipates the company's net profit and adjusted net profit will increase by more than 700% and over 100% year-on-year, respectively.

Consequently, Citi has raised its net profit forecasts for H&H International Holdings for 2026 through 2028 by 35%, 23%, and 10% respectively. The bank has increased its price target from HK$16 to HK$20.9 and reaffirmed its "Buy" rating on the stock.