CICC: Raises H&H International Holdings (01112.HK) target price by 45% to HK$29; raises 2026/27 profit forecasts

Zhitong Finance APP has learned that CICC released a research report stating that H&H International Holdings (01112.HK) recorded revenue of RMB 13.45 billion in the first three quarters of 2026, up 24.5% year on year; of which third-quarter revenue was RMB 4.75 billion, up 25.5% year on year. Operating data exceeded market expectations, mainly driven by better-than-expected revenue performance in the BNC and ANC businesses. The bank raised the company's profit forecasts for 2026 and 2027 by 5% and 12% to RMB 1.27 billion and RMB 1.55 billion, and raised the target price by 45% to HK$29, corresponding to forecast price-to-earnings ratios of 13x and 10x for 2026 and 2027 respectively, implying 30% upside from the current share price, while maintaining the "Outperform" rating.