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Consumer-health group selling infant formula/probiotics (Biostime), vitamins (Swisse) and pet nutrition (Solid Gold) globally.
Consumer-health group selling infant formula/probiotics (Biostime), vitamins (Swisse) and pet nutrition (Solid Gold) globally.
Grew by buying brands: Swisse was bought in 2015, and Solid Gold and Zesty Paws added pet nutrition later. Swisse sells in Australia and China; China remains the largest market, much of it through online platforms, including cross-border channels.
In one line: A Chinese/Australian Reckitt-style baby & wellness nutrition group.
Moat: narrow (brand, distribution). Strong Swisse/Biostime brand recognition and cross-border e-commerce distribution in China.
Headquarters: Guangzhou, China / Australia · Founded: 1999 · Employees: 2,758
Size Health and Happiness (H&H) International (1112.HK) is a Hong Kong Health Care company (Pharmaceuticals: Other) with a market value of $2.05B, the 412th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$24.86 on 6 Nov 2026.
Performance Over six months the shares gained 70.4%, against -2.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 24.3% over the last twelve months (peer median +3.8%); the operating margin is 15.6% (peer median 15.1%).
Valuation It trades at 12.6× forward earnings against a peer median of 17.1× (6th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.3 points above its cost of capital (9.2% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$17.9B | HK$15.6B | HK$14.2B | HK$15.4B | HK$14.9B |
| Revenue growth | — | +10% | -8% | +4% | — |
| Gross profit | HK$11.5B | HK$9.72B | HK$8.58B | HK$9.17B | HK$8.96B |
| EBITDA | HK$3.14B | HK$2.15B | HK$1.75B | HK$2.15B | HK$2.17B |
| Net income | HK$833M | HK$213M | -HK$58.2M | HK$643M | HK$711M |
| Free cash flow | HK$1.86B | HK$1.05B | HK$644M | HK$342M | HK$1.13B |
| Capital expenditure | HK$103M | HK$102M | HK$106M | HK$101M | HK$119M |
| Total debt | n/a | HK$10.1B | HK$9.96B | HK$10.2B | HK$10.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Health and Happiness (H&H) International 1112.HK | $2.05B | +70% | +24% | 16% | 12.6× | -3.0% |
| Reckitt Benckiser RKT.L | $47.6B | +22% | -2% | 28% | 16.4× | 1.6% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
| Danone BN.PA | $48.3B | +8% | 0% | 15% | 17.0× | -0.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1112.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +28.8% | +0.3% | 3rd highest of 21 |
| 6-month return | +70.4% | -2.5% | 2nd highest of 21 |
| Distance from 52-week high | -4.2% | -20.8% | 2nd highest of 21 |
| Revenue growth (TTM) | +24.3% | +3.8% | 5th highest of 21 |
| Operating margin | 15.6% | 15.1% | 10th highest of 21 |
| Forward P/E | 12.6× | 17.1× | 6th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -3.0% | 2.1% | 4th least demanding of 20 |
| Growth delivered (Del g) | +4.4% | +7.1% | 6th lowest of 20 |
| Hurdle (Req g minus delivered) | -7.3 pp | -9.1 pp | 9th most demanding of 20 |
| ROIC minus cost of capital | +7.3 pp | +2.7 pp | 7th highest of 21 |
| EV / EBITDA | 7.2× | 16.4× | 2nd cheapest of 10 |
| Net debt / EBITDA | 2.1× | -0.3× | 4th most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Health and Happiness (H&H) International 1112.HK | Hong Kong | $2.05B | +70% | +24% | 16% | 12.6× | -3.0% | +4.4% |
| China Meheco 600056.SS | China | $2.00B | -14% | +2% | 3% | n/a | -0.8% | -2.1% |
| Granules India GRANULES.NS | India | $2.10B | +8% | +22% | 17% | 24.9× | 23.5% | +10.6% |
| Porton Pharma Solutions 300363.SZ | China | $1.92B | +14% | +6% | -2% | n/a | 5.3% | +10.4% |
| China Resources Jiangzhong Pharmaceutical 600750.SS | China | $2.19B | -3% | -10% | 24% | 15.7× | -2.5% | +11.6% |
| China Resources Double-Crane Pharmaceutical 600062.SS | China | $2.50B | -10% | -1% | 13% | 9.8× | -8.3% | +5.3% |
| Tibet Cheezheng Tibetan Medicine 002287.SZ | China | $1.66B | -15% | -7% | 28% | n/a | -1.1% | +10.4% |
| Zhejiang Medicine 600216.SS | China | $1.61B | -23% | -6% | 7% | 11.3× | -6.7% | +3.9% |
| By-health 300146.SZ | China | $2.61B | -1% | +10% | 11% | 25.0× | 5.1% | +0.6% |
| Bora Pharmaceuticals 6472.TW | Taiwan | $1.55B | -2% | -6% | 15% | 14.2× | 4.5% | +60.2% |
| Guilin Sanjin Pharmaceutical 002275.SZ | China | $1.53B | +27% | -3% | 24% | 18.6× | -2.2% | +5.5% |
| Sudeep Pharma SUDEEPPHRM.NS | India | $1.41B | +75% | +27% | 33% | 67.7× | n/a | n/a |
| Jilin Aodong Pharmaceutical 000623.SZ | China | $3.02B | -9% | -4% | -13% | n/a | 5.2% | +1.0% |
| Bausch Health Companies BHC.TO | Canada | $3.09B | +48% | +10% | 27% | 1.9× | -14.5% | +5.9% |
| Jamieson Wellness JWEL.TO | Canada | $1.35B | +35% | +15% | 15% | 21.2× | 11.0% | +15.3% |
| Cronos CRON.TO | Canada | $1.34B | +45% | +36% | -2% | 15.6× | 2.1% | +26.7% |
| Guangdong Zhongsheng Pharmaceutical 002317.SZ | China | $3.13B | +35% | -14% | 9% | 80.3× | 34.7% | +5.9% |
| Pharma Mar PHM.MC | Spain | $1.30B | -33% | +32% | 19% | 37.7× | 11.4% | -3.9% |
| BioGaia BIOG-B.ST | Sweden | $1.26B | -7% | +13% | 28% | 30.1× | 0.9% | +15.5% |
| HBM 2142.HK | Hong Kong | $1.18B | -23% | +55% | 44% | 12.4× | 14.1% | +62.3% |
| Shandong Xinhua Pharmaceutical 0719.HK | Hong Kong | $1.09B | -11% | -1% | 4% | 6.8× | -2.0% | +7.1% |