G Sachs Cuts WH GROUP TP to HKD11.1, Expects 2Q OP Decline

Goldman Sachs published a research report forecasting that WH GROUP (00288.HK) -0.450 (-5.428%) Short selling $216.16M; Ratio 31.198% 's operating profit for 2Q26 will record a high-single-digit YoY decline, dragging overall performance in 1H26 to broadly flat YoY.

Among the segments, the broker forecast operating profit of the China business to fall 11% YoY in 2Q26, with hog production remaining weak amid declining hog prices, although losses narrowed from 1Q26 due to operational improvements.

For the international business, US packaged meat operations are facing rising beef and freight costs, but the pricing environment for hog production commodities remains supportive

The broker cut its TP from HKD11.8 to HKD11.1, while maintaining a Neutral rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-08 16:25.)

Goldman Sachs cut WH GROUP's target price to HKD11.1 from HKD11.8, maintaining a Neutral rating. The broker forecasts Q2 2026 operating profit will decline high-single digits YoY due to weak hog prices in China and rising costs for US packaged meat operations. Consequently, H1 2026 performance is expected to be broadly flat YoY.

For the international business, US packaged meat operations are facing rising beef and freight costs, but the pricing environment for hog production commodities remains supportive

The broker cut its TP from HKD11.8 to HKD11.1, while maintaining a Neutral rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-08 16:25.)