Changes in Hong Kong stocks | Wanzhou International (00288) fell more than 4% in early trading, second-quarter results fell short of expectations Smithfield's overall performance reduction guidelines

The Zhitong Finance App learned that Wanzhou International (00288) fell more than 4% in early trading. As of press release, it decreased by 4.38% to HK$7.1 million, with a turnover of HK$336 million.

According to the news, Wanzhou previously announced results, and its subsidiary Smithfield lowered the 2026 operating profit adjustment guidelines for all of its business segments. UBS said that excluding changes in biofair value, it is estimated that Wanzhou International's operating profit for the second quarter fell 7% year-on-year to US$618 million, lower than market expectations, while operating profit from the North American, Chinese and European businesses all declined.

Morgan Stanley released a research report saying that it updated Wanzhou International's risk-return estimates and lowered the 2026 profit forecast by about 7%, mainly reflecting the reduction in North America's guidelines for the second half of the year and the weak state of the European pork market. This was partly offset by quarterly improvements in the profit margin of packaged meat in China due to the normalization of channel investment. The bank also lowered its 2027 and 2028 profit forecasts by 7% to 9% to reflect the lower 2026 base.