Sofa maker Man Wah hits 13-year low on weak profit forecast

Man Wah Holdings

13/10/2026 03:06

** Shares of Man Wah Holdings 1999.HK drop 13.8% to HK$2.37, their lowest level since September 2013
** Stock set for the biggest one-day pct decline since April 7, 2025 
** Sofas and ancillary products maker says it expects its profit attributable for six months ended in September to drop 70%-90% y/y amid cost pressures and operating loss from the US business
** Says rising raw materials prices in the chemical sector have driven up production costs while industry competition has intensified - co 
** Co reported HK$1.15 billion ($146.55 million) profit the same period a year ago 
** YTD, stock down 45.6%, while benchmark Hang Seng Index .HSI down 6%
     
     
     
($1 = 7.8472 Hong Kong dollars)

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))