Furui: Lower Wan Zhou International (00288.HK) target price to HK$11.66, reiterates "buy" rating.

Zhito Financial APP learned that Fuli issued a research report stating that after considering the second quarter performance expectations of WH Group (00288.HK), the net profit forecast for the years 2026 to 2028 was reduced by 10%, 6%, and 7% respectively. This mainly reflects the decline in profit per ton of packaged meat, due to changes in product mix and the narrowing price difference between Chinese pork and live pigs; weak demand in the United States led to a slight decrease in packaged meat ton profits. The rating remains "buy". The bank predicts WH Group's second quarter operating profit to be 588 million US dollars, a decrease of 11.2% year-on-year, with an operating profit margin expected to be 8.7%, and sales expected to decrease by 0.7% to 6.8 billion US dollars. The bank has revised WH Group's target price from 12.4 Hong Kong dollars to 11.66 Hong Kong dollars, equivalent to forecasted P/E ratios of 12 times and 11 times for the next two years.