Analyst

Steve Zhou, CFA

15 years of experience in both buy and sell-side in Asia.

WH Group (288 HK):  Potential US Listing Of Smithfield Foods Could Be A Catalyst

Equity Bottom-Up

<ul>
<li>Since my previous insight on <a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH Group (288 HK)</a> in October 2023, the stock is up 17%, massively outperforming the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a>. </li>
<li>The company is still trading at 6x forward PE, compared to an average forward PE of 11x since 2016. </li>
<li>With the US business recovering as well as its potential IPO, and a stable China business, the stock remains a buy with limited downside. </li>
</ul>


Since my previous insight on WH Group (288 HK) in October 2023, the stock is up 17%, massively outperforming the Hang Seng Index (HSI INDEX). 
The company is still trading at 6x forward PE, compared to an average forward PE of 11x since 2016. 
With the US business recovering as well as its potential IPO, and a stable China business, the stock remains a buy with limited downside. 


WH Group (288 HK):  Update On The Bull Case