Chinese pork group WH hits 5-week low after quarterly results, warns of challenges

Smithfield Foods

29/04/2026 08:21

** Shares of WH Group 0288.HK drop 7.9% to HK$9.73 in the second falling session, their lowest point since March 25

** Stock set for the biggest one-day pct decline since April 7, 2025; top pct loser in Hang Seng Index .HSI, which adds 1.5%

** Chinese pork producer said profit attributable before biological fair value adjustments up 8.8% y/y for quarter ended in March, revenue up 6.7%

** "The dynamic development of global economic and political situations may create uncertainties and challenges to our operation" - Wan Long, Chairman

** WH's unit, Smithfield Foods SFD.O, warns of pressures on freight, packaging, and agricultural input costs due to the Middle East conflict

** Citi, with a "Buy" rating, says WH's 1Q26 reported operating profit growth was in line with estimates; lifts target price to HK$12.3 from HK$12.2 on higher China estimates

** WH's management lowered average hog price expectation in 2026E with expanded losses from hog production - Citi

** YTD, stock up 15.2%, benchmark Hang Seng Index .HSI up 1.7%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))