H&H INTL HLDG (01112) surged over 3% today. As of press time, the stock was up 2.84% to HK$12.33, with trading volume reaching HK$38.45 million.

Yangtze Securities released a research report stating that the company's milk powder business achieved positive growth in Q1 2025 after going through a cycle of destocking old products and restocking following new national standard updates. Post-implementation sales exceeded expectations, with Q1 2025 growth surpassing 40%. The brokerage expressed confidence in the company's long-established brand operation capabilities and its positioning as a global nutrition supplier for all family members.

Morgan Stanley indicated that among mainland consumer stocks rated "in-line," H&H INTL HLDG has high potential for re-rating. The investment bank raised its target price for H&H from HK$11.5 to HK$13.4, expecting performance improvement in the coming quarters due to the low base effect in the second half for milk powder and strong demand for stage 1-2 milk powder products.