Changes in Hong Kong stocks | Wanzhou International (00288) rose more than 4% and distributed 211 million yuan in cash to shareholders and the company's meat product profits remained high

The Zhitong Finance App learned that Wanzhou International (00288) rose more than 4%. As of press release, it had risen 3.99% to HK$6.78, with a turnover of HK$128 million.

According to the news, on April 9, Wanzhou International issued an announcement, and the board of directors announced the distribution of Smithfield. According to the announcement, Smithfield's distribution agent distributed due shares to eligible shareholders on April 8, 2025. The shares will be transferred to the shareholders' depository trust company accounts through the central settlement system to ensure smooth acceptance by shareholders. In addition, the announcement also mentioned that checks for the distribution of cash payments were sent to shareholders who chose to receive cash on April 8, 2025. The company has paid a total of approximately RMB 211 million in cash allocations to shareholders. The implementation of this assignment reflects the company's continued efforts in shareholder returns.

CICC released a research report saying that Wanzhou International's profit slightly exceeded expectations last year, mainly due to the high profit per ton of the US meat products business and the performance of the upstream pork business in the fourth quarter of last year that exceeded expectations. Considering that the US upstream business will benefit from rising pig prices and falling feed costs, the bank raised Wanzhou's net profit forecast for the current and next two years by 9.7% and 7.2%, to $1,614 billion and US$1,683 million, respectively. Looking ahead to this year, in terms of Wanzhou's domestic business, sales and profits of meat products in this market will continue to grow. Although profit per ton may drop slightly year-on-year, it will remain high. On the US business side, according to Smithfield's guidelines, the company plans to maintain revenue growth by low to medium units and maintain operating profit of 1.1 billion to 1.3 billion US dollars.