WH GROUP (00288) experienced a decline of more than 6% following the release of its quarterly results. At the time of writing, the stock was down 6.24% to HK$9.91, with a turnover of HK$275 million.

The company reported its first-quarter financial performance, showing a 6.7% year-on-year increase in revenue to US$6.994 billion. Operating profit rose by 7.5% to US$643 million. Profit attributable to owners of the company, before adjusting for the fair value of biological assets, increased by 8.8% to US$396 million.

A research note from Citi indicated that WH GROUP's 8% growth in first-quarter operating profit met expectations. The performance of its packaged meats businesses in both China and the United States was also in line with forecasts.

Management at WH GROUP reaffirmed its 2026 operating profit guidance for the US market. They stated that pressures from hog prices have been mitigated through supply chain optimization and improvements to the product mix. The company's focus on sales volume for its packaged meats business in China remains unchanged, with operating profit per ton continuing at a high level. However, management has revised down its forecast for the average hog price in 2026.