Zhi Tong Cai Jing·2025-11-03 02:54Core Viewpoint - WH Group (万洲国际) reported strong financial performance for the nine months ending September 30, 2025, with significant increases in revenue and profit, driven by growth in pork sales and stable income from packaged meat products [1] Financial Performance - The company achieved a revenue of $20.477 billion, representing an 8.54% year-on-year increase [1] - Profit attributable to shareholders reached $1.168 billion, up 8.05% compared to the previous year [1] - Basic earnings per share were reported at 9.1 cents [1] Quarterly Performance - In Q3 2025, WH Group's revenue increased by 7.9% year-on-year, while operating profit grew by 1.8% [1] - The growth in sales was primarily attributed to a 10.2% increase in pork sales, benefiting from effective expansion of sales channels in the Chinese market [1] - Revenue from packaged meat products saw a stable growth of 5.1%, supported by price increases in the U.S. and European markets [1] Margin and Cost Factors - The overall operating gross margin compressed by 0.6 percentage points, mainly due to rising raw material costs in the U.S. [1] - The shift in Chinese packaged meat products towards higher cost-performance products better met consumer demand [1] - Declining pig prices in Europe negatively impacted the profitability of upstream operations [1]