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2026-10-28 10:50:42 BofA Securities issued a research report stating that WH GROUP (00288.HK)'s 3Q operating profit/net profit fell 30%/45% YoY respectively, or down 12%/13% YoY for the first nine months. Third-quarter operating profit was broadly in line with market expectations, while net profit missed forecasts. BofA Securities said the market had already expected WH GROUP's weak third-quarter results. In response to lowered US guidance, the broker cut its 2026 and 2027 EPS forecasts by 7% and 3% respectively, and expects 2026 net profit to decline 18% YoY to USD1.3 billion. The broker expects the EPS downtrend to continue through 1Q27, before stabilizing from 2Q27 onward due to lower comparison bases in China and the US. The broker believes the stock's cumulative 22% decline since the third quarter has already reflected downside EPS risks. The market views the stock as a dividend play. Based on the broker's prudent estimate of recurring DPS of HKD0.5 for 2026, compared with HKD0.61 for 2025, the payout ratio would be about 63%, while the dividend yield of about 8% remains attractive. The broker reiterated its Buy rating and cut the TP from HKD8.5 to HKD8.1. (ha/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |