WH GROUP (00288) saw its shares rise more than 3% during the trading session, reaching an intraday high of HK$10.83 and setting a new historical record. At the time of writing, the stock was up 3.45%, trading at HK$10.80, with a turnover of HK$189 million.

Citigroup issued a research report stating that WH GROUP's operating profit increased by 13% year-on-year in the fourth quarter of last year, while net profit grew by 9%, both exceeding expectations. This performance was primarily driven by favorable commodity prices and improved operational efficiency in its U.S. pork business. Management aims to maintain the profitability of its U.S. hog farming operations by 2026 through further efficiency enhancements, even amid potential cost increases. The bank largely maintained its earnings forecasts but raised the target price from HK$9.5 to HK$10.9, based on a sum-of-the-parts valuation method. The holding company discount was reduced from 30% to 20%, reflecting improved shareholder returns, and the "buy" rating was reaffirmed.