H&H国际控股（01112）今日盘中大跌7.11%，截至发稿时报9.16港元，成交额超3153万港元，引发市场关注。
消息面上，H&H国际控股近期公布的2024年业绩显示，公司经营状况不佳。年度收入约130.52亿元，同比减少6.3%；净亏损5372.1万元，同比由盈转亏。经调整可比纯利约5.41亿元，同比大幅下降30.5%。尽管如此，公司仍宣布派发末期息0.05港元，全年股息合计0.35港元。
分析师对公司业绩持谨慎态度。华泰证券指出，公司2024年表观纯利同比转负，主要原因包括非现金汇兑亏损、一次性营销及推广开支，以及渠道优化产生的一次性重组成本等。鉴于婴配粉业务面临压力，该券商已下调2025-2026年的收入预测。招商证券则表示，虽然公司的成人营养与护理（ANC）业务和宠物营养与护理（PNC）业务保持增长，但婴幼儿营养与护理（BNC）业务继续承压。展望2025年，奶粉业务有望在年中前完成"新国标"过渡，全年有望恢复增长；同时，受益于融资成本降低，公司利润可能会有所改善。
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