H&H H1 2026 slides: 23.7% revenue growth, margins soar

Health and Happiness (H&H) International Holdings reported strong financial results for the first half of 2026, with revenue growth of 23.7% and improved profitability. The Hong Kong-listed wellness company's stock surged following the announcement, reflecting a 21.11% gain. Management described the results as a strong start to the company's three-year growth plan.

H&H operates a diverse portfolio of wellness brands across three main segments: Adult Nutrition & Care, Baby Nutrition & Care, and Pet Nutrition & Care. The company's revenue reached RMB 8,695.9 million, with all three segments contributing to growth. The Baby Nutrition & Care division showed particularly strong performance. Profitability metrics improved significantly, with adjusted EBITDA increasing 71.9% year-over-year and adjusted net profit rising 153.2%.

The adjusted net profit margin reached double digits at 10.6%. Gross margin expanded from 62.5% to 65.4%, driven by operating leverage, portfolio premiumization, and supply chain excellence. H&H also made progress on deleveraging, reducing gross debt by over RMB 1 billion and improving the net leverage ratio from 3.45x to 2.05x.