2025年3月27日，中信证券发布研报，上调h&h国际控股评级，评级由“增持”调整为“买入”。本次评级报告研究员为盛夏。该研报摘要表示：2024年公司收入/调整归母净利润同比-6.3%/-30.5%，其中1）奶粉业务收入双位数下跌，主要受新老国标产品切换影响；2）ANC业务收入在同期高基数情况下依然实现了高单位数稳健增长；3）宠物板块收入同比中单位数增长，产品组合和渠道调整导致收入增速放缓。展望...
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