On May 6,$WH GROUP (00288.HK)$It rose more than 3%. As of press release, it was up 3.71% to HK$5.87, with a turnover of HK$107 million.

According to the news, CICC pointed out that Wanzhou's profit performance in the first quarter of the 2024 fiscal year beat market expectations, mainly due to a marked decrease in losses in the US pork business. Revenue for the period fell 8.3% year on year; operating profit increased 37.3% year on year; core net profit to mother increased 73% year on year. Among them, the operating profit of the Chinese market fell 10.4% year over year. As for operating profit in the US and European markets, the year-on-year increase was 208.1% and 156.5%.

The bank said that considering the recent rise in US pig prices, it raised the profit of the US pork business and raised Wanzhou's 24/25 profit by 10.2%/14.6% to US$12.15/1,358 million. The target price was raised by 10.2% to HK$6.5, taking into account the increase in profit forecasts.