Health and Happiness (H&H) International Holdings Limited (HK:1112)
:1112
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Health and Happiness (H&H) International Holdings
(1112)
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Rating:49Neutral
Price Target:
HK$14.00
▼(-1.34% Downside)
Action:ReiteratedDate:03/26/26
The score is held back primarily by volatile profitability alongside elevated leverage, which increases risk despite solid gross margins and positive free cash flow. Technicals further weigh on the score as the stock trades below major moving averages with bearish momentum. Valuation is also a headwind given the high P/E and only modest dividend yield.
Positive Factors
High gross margins
Sustained gross margins near 60–64% indicate durable unit economics for branded health products. High gross margin provides long-term buffer to absorb input cost swings, supports marketing and R&D investment, and underpins operating leverage across channels over the next 2–6 months.
Negative Factors
Elevated leverage
Persistent debt-to-equity around 1.5–1.6 materially reduces financial flexibility and raises interest and refinancing risk. With elevated leverage the company is more sensitive to earnings shocks and has less capacity to invest or pursue M&A without first improving cash flow or cutting dividends.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near 60–64% indicate durable unit economics for branded health products. High gross margin provides long-term buffer to absorb input cost swings, supports marketing and R&D investment, and underpins operating leverage across channels over the next 2–6 months.
Read all positive factors
Health and Happiness (H&H) International Holdings (1112) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.05B
Dividend Yield1.77%
Average Volume (3M)2.14M
Price to Earnings (P/E)39.6
Beta (1Y)0.73
Revenue Growth10.02%
EPS GrowthN/A
CountryHK
Employees2,800
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.21
Shares Outstanding645,561,340
10 Day Avg. Volume985,367
30 Day Avg. Volume2,140,320
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)1.26
Price to Sales (P/S)0.54
P/FCF Ratio7.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$18.19Price Target Upside28.22% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)1.11
Revenue Forecast (FY)HK$16.02B
Health and Happiness (H&H) International Holdings Business Overview & Revenue Model
Company Description
Health and Happiness (H&H) International Holdings Limited, an investment holding company, manufactures and sells family nutrition and baby care products worldwide. The company's Infant Formulas segment produces infant formulas for children under s...
How the Company Makes Money
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Health and Happiness (H&H) International Holdings Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
46
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.98B | 13.05B | 13.93B | 12.78B | 11.55B |
| Gross Profit | 8.73B | 7.92B | 8.47B | 7.70B | 7.25B |
| EBITDA | 2.15B | 1.37B | 2.04B | 1.87B | 1.42B |
| Net Income | 191.06M | -53.72M | 581.85M | 611.78M | 508.48M |
Balance Sheet | |||||
| Total Assets | 19.41B | 18.84B | 20.04B | 20.96B | 20.28B |
| Cash, Cash Equivalents and Short-Term Investments | 1.73B | 1.60B | 1.45B | 2.30B | 2.40B |
| Total Debt | 9.06B | 9.36B | 9.22B | 9.67B | 9.48B |
| Total Liabilities | 13.42B | 13.03B | 13.75B | 14.82B | 14.40B |
| Stockholders Equity | 5.99B | 5.81B | 6.30B | 6.14B | 5.89B |
Cash Flow | |||||
| Free Cash Flow | 947.13M | 1.25B | 1.01B | 1.37B | 1.78B |
| Operating Cash Flow | 994.38M | 1.35B | 1.10B | 1.47B | 1.89B |
| Investing Cash Flow | -134.75M | 895.00K | -52.07M | -104.88M | -4.01B |
| Financing Cash Flow | -794.56M | -1.07B | -1.99B | -1.49B | 2.77B |
Health and Happiness (H&H) International Holdings Technical Analysis
Positive
14.19
Price Trends
13.90
Negative
13.89
Negative
13.24
Positive
Market Momentum
-0.24
Negative
57.85
Neutral
84.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1112, the sentiment is Positive. The current price of 14.19 is above the 20-day moving average (MA) of 12.37, above the 50-day MA of 13.90, and above the 200-day MA of 13.24, indicating a neutral trend. The MACD of -0.24 indicates Negative momentum. The RSI at 57.85 is Neutral, neither overbought nor oversold. The STOCH value of 84.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1112.
Health and Happiness (H&H) International Holdings Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$52.28B | 8.37 | 23.50% | 3.26% | 2.03% | 1.43% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | HK$6.29B | 13.00 | 7.63% | 2.21% | -3.39% | 91.63% | |
56 Neutral | HK$64.99B | 34.73 | 3.79% | 3.62% | -7.24% | 1403.91% | |
55 Neutral | HK$31.43B | 8.88 | 7.69% | 6.70% | -12.70% | -45.48% | |
49 Neutral | HK$9.05B | 39.58 | 3.23% | 1.77% | 10.02% | ― | |
48 Neutral | HK$3.01B | 18.39 | 2.84% | 2.90% | 0.52% | 99.51% |
* Consumer Defensive Sector Average
HK:1112
Health and Happiness (H&H) International Holdings
14.09
5.65
66.88%
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Health and Happiness (H&H) International Holdings Corporate Events
H&H Delivers Strong Q1 Revenue Growth on China-Driven Nutrition Demand and Deleveraging
Apr 22, 2026
Health and Happiness (HH) International Holdings reported a 34.4% year-on-year rise in first-quarter 2026 revenue to RMB4.26 billion, with high-margin nutritional supplements contributing nearly 60% of sales. Growth was broad-based across adult, b...
H&H Sets 2026 AGM to Approve 2025 Results, Dividend and Share Issue Mandate
Apr 10, 2026
Health and Happiness (HH) International Holdings has called its annual general meeting for 15 May 2026 in Hong Kong, where shareholders will review and adopt the audited consolidated financial statements and directors’ and auditors’ re...
H&H International Returns to Profit on Higher Revenue and Stronger Margins in 2025
Mar 24, 2026
Health and Happiness (HH) International Holdings reported a solid improvement in its 2025 financial performance, with revenue rising 10.0% year-on-year to RMB14.35 billion and gross profit increasing 13.2% to RMB8.96 billion. The group swung from ...
H&H International Declares Final Dividend of HKD 0.16 Per Share for 2025
Mar 24, 2026
Health and Happiness (HH) International Holdings Limited has declared a final ordinary cash dividend of HKD 0.16 per share for the financial year ended 31 December 2025. The payout, subject to shareholder approval on 15 May 2026, underscores the c...
H&H flags double-digit 2025 revenue growth and higher earnings on broad-based demand
Mar 3, 2026
Health and Happiness (HH) International Holdings reported low double-digit revenue growth for 2025 on both reported and like-for-like bases, driven by gains across its adult, baby and pet nutrition segments. The company said Chinese mainland and o...
H&H Schedules March Board Meeting to Approve 2025 Annual Results and Consider Dividend
Mar 2, 2026
Health and Happiness (HH) International Holdings has scheduled a board meeting in Hong Kong on 24 March 2026 to review and approve the group’s annual results for the financial year ended 31 December 2025. The board will also consider recomme...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.