Health and Happiness (H&H) International Holdings reported unaudited revenue of RMB4.26 billion for the three months ended 31 March 2026, a 34.4% year-on-year increase (33.8% like-for-like).

Revenue Mix and Segment Performance • Nutritional supplements—its core, high-margin category—contributed 59.9% of group sales, rising 22.8% like-for-like to RMB2.55 billion. Within this, vitamin, herbal and mineral supplements advanced 24.2% and paediatric probiotics gained 23.1%. • Adult Nutrition & Care revenue grew 24.2% like-for-like to RMB1.93 billion, driven by Swisse-branded products across Chinese mainland, Australia/New Zealand and expansion markets. • Baby Nutrition & Care surged 60.9% to RMB1.83 billion, led by a 74.4% jump in Biostime infant milk formula demand on the Chinese mainland. • Pet Nutrition & Care edged up 1.5% like-for-like to RMB493.40 million; pet supplements brand Zesty Paws delivered 15.5% growth.

Geographical Trends • Chinese mainland sales advanced 44.9% to RMB3.16 billion, underpinned by strong Swisse performance on Douyin (up 84.3%) and short-term IMF demand. • North America rose 16.3% like-for-like to RMB452.40 million, supported by Zesty Paws’ e-commerce momentum and a rebound at Solid Gold. • Australia/New Zealand fell 8.3% like-for-like to RMB378.00 million as the group continued to scale back the corporate daigou channel. • Other Territories increased 30.3% like-for-like to RMB270.60 million, with nine Asian expansion markets up 37.6%.

Balance-Sheet Updates As at 31 March 2026, cash reserves exceeded RMB2.10 billion. Gross debt declined by more than RMB300 million from end-2025 after a voluntary prepayment of over RMB500 million on a US-dollar term loan, aided by new lower-cost RMB borrowings. RMB-denominated or hedged liabilities represented over 84% of total borrowings.

Outlook Management expects nutritional supplements to track overall industry growth, while infant milk formula is projected to outperform the market despite an anticipated moderation after the first-quarter demand spike. Ongoing priorities include deeper channel penetration for Swisse in China, rollout of a new Human Milk Oligosaccharide IMF, continued localisation of pet-food supply, and further omni-channel expansion for Zesty Paws.