Changes in Hong Kong stocks | Wanzhou International (00288) fell more than 3% Macquarie expects packaged meat to be the company's main drag in the first quarter

The Zhitong Finance App learned that Wanzhou International (00288) fell by more than 3%. As of press release, it was down 3.44% to HK$6.73, with a turnover of HK$105 million.

According to the news, Macquarie released a research report saying that it is expected that due to a strong rebound in US upstream business, Wanzhou International's operating profit will increase 16% year over year. Looking at the full year, the bank lowered its profit forecast to reflect the impact of tariffs on US export business to China. The bank mentioned that packaged meat sales are expected to decline due to channel inventory removal and weak demand due to business restructuring. At the same time, the company increased the number of employees to improve channel services, and the weakening operating leverage effect due to declining sales volume, so packaged meat is expected to be the main drag factor in the first quarter of FY2025. The bank lowered Wanzhou International's profit forecast by 4.5% and lowered the target price by more than 4% to HK$7.3, giving it a “outperforming the market” rating.