H&H International Holdings announced its annual results for the period ending December 31, 2025. The group reported revenue of RMB 143.54 billion, representing a 10% increase compared to the previous year. Profit attributable to owners of the parent company was RMB 196 million, a turnaround from a loss in the prior year. Basic earnings per share were RMB 0.31. The board proposed a final dividend of HKD 0.16 per share.

The year 2025 was an encouraging period for the group, marked by significant progress across all aspects of its strategy. All business segments, including Adult Nutrition and Care, Infant Nutrition and Care, and Pet Nutrition and Care, resumed an upward trajectory, achieving robust and broad-based growth while continuing to advance strategic and financial priorities.

Key highlights for the year include: - **Delivering Robust Financial Performance**: Full-year total revenue increased by 10.3% on a like-for-like basis. The group maintained stable profitability, with an adjusted comparable EBITDA margin of 14.3%, while adjusted comparable net profit grew by 22.7%. - **Strengthening Market Leadership in Adult Nutrition and Care**: After a decade of strategic management, the Swisse brand reached a revenue milestone of one billion US dollars in 2025. During the year, Swisse ranked first in the overall vitamin, herbal, and mineral supplement market in mainland China and also held the top position in the Australian market, achieving double-digit growth in both mainland China and expansion markets. - **Revitalizing Growth Momentum in Infant Nutrition and Care**: The group's Infant Nutrition and Care business segment in mainland China returned to a growth path, primarily driven by a successful recovery in the infant formula business following the completion of the transition to new national standards. The group's market share in the ultra-premium infant formula segment increased from 13.3% in 2024 to a new high of 17.1% in 2025, consistently outperforming the market. - **Expanding Pet Nutrition and Care as a Key Growth Engine**: In 2025, the Pet Nutrition and Care segment accounted for 15.0% of total revenue, benefiting from an 8.7% like-for-like growth in overall pet nutrition and care and a 14.3% like-for-like growth in high-growth pet nutrition products. - **Accelerating Balance Sheet Deleveraging**: The group's net leverage ratio decreased significantly from 3.99x in 2024 to 3.45x in 2025, supported by strong operating cash flow and an optimized capital structure. During the year, the group reduced total debt by over RMB 600 million while maintaining a robust cash reserve of more than RMB 1.7 billion, accelerating its deleveraging process.