HK Stock Market Move | H&H INTL HLDG (01112) rose more than 6% in the afternoon; total revenue for the first nine months rose 24.5% year on year on a reported basis.

H&H INTL HLDG (01112) rose more than 6% in the afternoon. As of press time, it was up 4.48% at HK$21.44, with a turnover of HK$48.8928 million. On the news front, H&H INTL HLDG announced that for the first nine months of this year, total revenue rose 24.5% year on year on a reported basis to RMB13.448 billion, mainly driven by strong growth in the adult nutrition and care products segment and the infant and toddler nutrition and care products segment. In the third quarter, the group increased investment in the launch of strategic new products and strengthened various initiatives targeting core markets and selected expansion markets to support sustainable growth. CLSA released a research report stating that after reviewing M&A cases in the global dietary supplement industry since the beginning of this year, it found that when investors evaluate H&H INTL HLDG, they appear to mainly consider the valuation of its ANC business, while giving little valuation to its BNC and PNC businesses. It raised the target price of H&H INTL HLDG by 28.4% from HK$21.8 to HK$28 and reiterated its "outperform" rating.