Health and Happiness (H&H) International (1112) Investor Day 2026 summary

Strategic partnership and business overview

• Highlighted a 15-year strategic partnership with Isigny, emphasizing mutual trust and quality as core to infant nutrition success in China and globally.

• Infant milk formula is the second-largest business, representing nearly one-third of total revenue and ranking fifth in China and first in France's pharmacy channel for organic formula.

• Isigny partnership is foundational, with H&H holding priority on production volumes and a significant ownership stake.

• The partnership supports expansion and resilience, with capacity available for further growth and readiness to invest in new facilities if needed.

• Isigny’s cooperative model ensures reinvestment in quality, sustainability, and farmer welfare, aligning with B Corp values.

Financial performance and growth drivers

• Group revenue grew 34% year-to-date, with Baby Nutrition up over 60% and infant formula exceeding 72% growth.

• Pediatric probiotics and kids nutrition segments returned to strong double-digit growth at 23%.

• Adult Nutrition and Care business grew 26% in Q1, with China and Australia both achieving double-digit growth.

• Pet nutrition, mainly Zesty Paws in North America, grew 17% and now accounts for 11.6% of group revenue.

• Strong cash reserves (2.1 billion RMB) enabled significant deleveraging, reducing gross debt by over 300 million RMB in Q1.

Product innovation and market positioning

• Biostime IMF’s growth is driven by high-quality, science-based formula design, including the launch of HMO products with the highest 2'-FL dosage approved in China.

• Consumer-centric branding and early-stage recruitment strategies target new generations of mothers.

• Normande breed cow milk, unique to the region, offers higher A2 protein and OPO levels, supporting product differentiation.

• Manufacturing uses patented spray-drying technology for superior dissolving speed and quality.

• The company maintains a focus on natural, terroir-based sourcing rather than genetic modification for A2-only milk.