智通财经APP获悉，H&H集团(01112)午后飙升逾13%，截至发稿，涨6.96%，报14.14港元，成交额9197.16万港元。
消息面上，国家统计局日前公布中国2025年出生人口为792万。里昂指出，出生人数低于预期，意味婴幼儿配方粉市场竞争将加剧，对于企业而言，产品结构及销售动能至关重要，随着2024年的出生高峰逐步转向第3阶段产品，在第1及第2阶段产品拥有稳定客户基础并能赢得消费者信任的企业，相信将能更受惠于现有客户延伸至购买第3阶段产品。
公开资料显示，合生元作为H&H集团的核心母婴营养品牌，自1999年创立以来，始终专注于婴幼儿营养与健康领域。方正证券表示，25年上半年公司婴配粉销售额同比增长10.0%，远超行业平均水平，主要得益于1段和2段的婴配粉强劲的销售表现。海通国际也表示，婴幼儿配方奶粉成为BNC业务最大增长引擎。
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