In the nutrition and health industry, the most challenging phase often isn't the initial breakthrough but rather how a leading brand discovers its next growth curve. For H&H Group's Swisse, this is the current challenge it is addressing. Recently, its premium sub-brand, Swisse PLUS, launched a new product called the AKK Double Reduction Bottle, re-entering the high-demand "scientific anti-aging" segment. Compared to traditional offerings, this new product emphasizes "liver metabolism anti-aging" and gut microbiome management, targeting the ongoing consumer upgrade towards high-end functional nutrition. This move reflects a significant evolution for Swisse: transitioning from reliance on blockbuster products to a multi-growth model centered on a "brand matrix + specialized functional segments." In essence, Swisse is evolving beyond a traditional VHMS (Vitamins, Herbal, and Mineral Supplements) brand into a premium nutrition platform catering to all ages, scenarios, and life stages.

The AKK launch represents Swisse's strategic positioning to capture emerging opportunities in "precision nutrition." A key industry trend is the consumer shift from "general wellness" to "targeted health." Purchases are increasingly driven by specific functional needs like sleep, mood, weight management, gut health, and anti-aging, moving beyond basic supplementation. The AKK product is Swisse's proactive play in this space, especially as "scientific anti-aging" gains traction, pushing functional nutrition towards more mechanism-driven, research-backed, and precise solutions. Modern consumers prioritize the scientific rationale, formulation mechanisms, and long-term health value behind products. As Swisse's premium functional and precision nutrition sub-brand, Swisse PLUS's AKK launch signifies a further push into high-value-added functional segments.

This is not an isolated product launch but part of the ongoing expansion of Swisse's "1+3" brand matrix. Market perception has historically centered on Swisse's traditional vitamin and mineral supplements. However, internally, a "1+3" growth structure has taken shape. The "1" refers to the core Swisse brand, solidifying its mass-market nutrition foundation. The "3" comprises new growth drivers like Swisse PLUS and Little Swisse, targeting premium precision nutrition and children's nutrition, respectively. This shift is crucial. For a market leader, reliance on a single category imposes growth limitations. Diversifying into sub-brands for different functions and demographics signifies a move from a "single-point advantage" to "platform capabilities." Swisse PLUS and Little Swisse have become key growth engines for the ANC (Adult Nutrition and Care) business. Q1 2026 results show Swisse's China market sales grew 33.5% year-over-year, led by Swisse PLUS and Little Swisse. Concurrently, the brand deepened its presence on high-growth channels like Douyin, with related channel sales up 84.3% year-over-year, and new offline retail channel sales increasing 54.7%. This indicates Swisse's growth is now driven by a combination of "brand matrix + channel upgrade + segmented demand," not just traditional e-commerce dividends.

Furthermore, channel partnerships are evolving from traditional distribution to deeper strategic collaboration. Swisse and JD Health are deepening their cooperation, moving beyond sales to align on long-term synergy around consumer health needs, product innovation, and precision operations. The two parties plan to upgrade their strategic partnership, jointly developing hit products and targeting a business scale in the tens of billions. As industry competition shifts from "traffic competition" to "user operation competition," such collaborations with leading platforms are gaining importance.

While the AKK product and "1+3" strategy highlight future growth potential, the 2025 annual report and Q1 2026 results are already validating the quality of this growth. In 2025, H&H Group's ANC business revenue reached RMB 6.95 billion, with Swisse maintaining its leading position in the mainland China VHMS market and its top spot in the Australian VHMS market. In Q1 2026, the ANC business achieved a 24.2% year-over-year revenue increase, with double-digit growth across China, ANZ, and Asian expansion markets. Swisse's sales in Asian expansion markets grew 37.6%, demonstrating sustained global momentum.

This performance is underpinned by three core capabilities Swisse has built over time: First, R&D and innovation capability, evident in products like the AKK bottle and continuous new launches from Swisse PLUS and Little Swisse. Second, brand matrix capability, enabling coverage of broader consumer needs and stronger resilience through multi-brand, multi-segment operations. Third, channel deepening capability, forming more efficient consumer reach and conversion systems through platforms like Douyin and strategic partners like JD Health.

For capital markets, the key takeaway may not be the sales of any single new product but the emerging, rare narrative of a "market leader with sustained growth potential." As the primary revenue driver for H&H Group, Swisse's stable growth in the adult nutrition business is becoming a crucial engine for enhancing the group's overall operational quality. With the deepening of the "1+3" strategy, the rollout of new premium functional nutrition products, optimized channel structure, growth in global expansion markets, and the group's ongoing efforts to deleverage and improve its financial structure, H&H Group's long-term growth logic and earnings certainty are being further strengthened. From the AKK launch to multiple growth curves, Swisse is not just opening up new category space but also signaling that H&H Group is entering its next phase of value growth.