With the increasing health awareness of people, nutritional supplements have begun to attract consumer attention. As a global leader in the high-end nutrition and health industry, H&H has a deep understanding of consumer needs and brings more refined, scientific and nutritious products, which also helps H&H Group's performance continue to grow. According to the latest 2023 annual performance data of H&H, as of December 31, 2023, the group's revenue was 13.93 billion yuan, an increase of 9.0%. Among them, nutritional supplements have become the main engine of the Group's growth. Nutritional supplements across all three businesses achieved rapid growth of 30.0%, accounting for 60.4% of the Group's total revenue, and continued to drive profit growth and leverage market opportunities to improve profitability.
H&H Group's performance ANC achieved rapid growth
Swisse China achieved strong double-digit year-on-year growth of 37.4%, accounting for 66.0% of the Group's ANC sales. Swisse continues to hold the No. 1 position in Chinese mainland's online vitamin, herbal and mineral supplements (VHMS) market. In line with the trend of consumption grading, in 2023, Swisse will further target the new needs and scenarios of nutrition and health consumption, and build "Swisse 1+3" through its high-end pharmacy-level imported nutrition brand Swisse PLUS+, nutritional food brand Swisse Me, and Little Swisse, a brand for children's health needs, which are exclusively designed for mature elites The brand strategy matrix continues to meet the refined nutrition and health needs of different consumers, helping the Swisse brand to establish a dominant position in innovative categories. In 2023, Swisse PLUS+ Milk Thistle Liver Cleansing Tablets maintained its leading position in the high-end thistle category in Chinese mainland, and the Swisse PLUS NAD+ series ranked high in the anti-aging category, and the Swisse PLUS+ series was launched in 2022 and achieved rapid growth in 2023, and has recorded a double-digit contribution to Chinese mainland ANC revenue.
H&H Group's performance Biostime maintains its leading position
Consumers' demand for infant nutritional supplements has increased significantly, and Biostime has launched innovative products for the infant nutritional supplement market segment, such as lactoferrin + probiotics, DHA algal oil + ARA gel candy, calcium tablets and other nutritional supplements, accelerating the improvement of the infant nutrition matrix layout and promoting the continuous growth of the market share of infant probiotics and nutritional supplements. At the same time, Biostime continues to consolidate its leading position as a probiotic nutritional supplement brand for infants and children in Chinese mainland.
Despite the systemic challenges faced by the infant formula industry in China, the Group continued to strengthen its investment in nutritional supplements to mitigate the impact of the decline in milk powder, resulting in a narrowing decline in BNC to 11.7%. As of December 31, 2023, Biostime's 7 infant formula milk powder series have successfully passed the "New National Standard" certification of the State Administration for Market Regulation, and successfully completed the omni-channel transition. According to Nielsen, an independent research data provider, Biostime's retail sales of ultra-premium infant formula milk powder accounted for 12.4% of the market share, rising in market share and ranking fourth.
H&H Group's performance Pet nutrition continues to make efforts
At present, the number of pets in the world is increasing day by day, the high-end pet nutrition supplements and pet humanization are on the rise, and China's pet market is in a period of rapid development of pet ownership rate and pet nutrition consumption upgrading. PNC's sales in China increased 20.8 percent year-over-year. PNC further strengthened its communication with consumers in both online and offline markets, and Solid Gold ranked second in the category of high-end premium cat food in China.
H&H Group's performance has always shown a steady growth trend, which is inseparable from the performance of the three major business segments. Swisse strengthens its position as the No. 1 online market in China and VHMS in Australia. Biostime has consolidated its position in the Chinese mainland infant probiotic nutritional supplement and high-end infant milk powder market. Zesty Paws and Solid Gold are ranked among the top categories in online and offline channels in the Chinese and American markets. It is believed that under the guidance of the Group's sustainable development strategy, the cooperation of the three major sectors will definitely maintain the steady growth of the Group's performance.