On August 20, H&H Group reported first half 2019 results. The company achieved revenue of 5095 million (RMB), up 11.4% YoY, and net profit of 713 million, up 85.5% YoY. Among them, infant nutrition and nursing supplies business (BNC) increased by 17.4% to 3.261 billion compared with the same period last year, while the adult nutrition and nursing goods business (ANC) increased by 2.1% to 1.833 billion compared with the same period last year.
During the reporting period, the revenue of BIOSTIME probiotics (probiotic supplement) was 589 million, up 6.3% year on year, with the growth rate slowing down.
In the first half of the year, Swisse active sales in China (mainly refers to China's cross-border e-commerce and general trading business) grew 21.9 per cent, accounting for 40.9 per cent of the sector's total revenues. In addition, sales in Australia and New Zealand fell 11.7 percent as new e-commerce laws in China led to fewer inventories and transactions from buyers.
In terms of channels, Swisse offline business grew 79.6% year-on-year in the first half of the year, accounting for 11.9% of the total sales volume of Swisse in China. According to Earlydata's research data, Swisse's market share of China online platform was 6.0% in the 12 months ending June 30, 2019, ranking first.
Swisse has launched a number of new products in China, including K2 bone products sold on cross-border e-commerce platforms, chlorophyll liquid products launched through general trade channels, and Qinggan drink (artichoke + FHD liquid products). In addition, vitamin C effervescent tablets have been registered as health food.
In the second half of the year, Swisse will also launch a number of new products in the general trade market in China. These new products will include Swisse vitamin D3 drops, which were recently approved by the State Administration for Market Regulation through filing procedures.
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