In this file:
· WH Group income drops to US$828m in 2020
… net profit, after biological fair value adjustments, plunged by 43.48 percent…
· Hong Kong stocks post first monthly drop since September
… the biggest loser was WH Group Ltd , which fell 12.74%...
· China's WH Group sees higher hog prices after use of unapproved vaccines
… WH processed 46% fewer hogs...
WH Group income drops to US$828m in 2020
The Standard (Hong Kong)
30 Mar 2021
Chinese pork processor WH Group (0288) said net profit, after biological fair value adjustments, plunged by 43.48 percent to US$828 million (HK$6.46 billion) last year.
Net profit before biological fair value adjustments fell by 29.4 percent to US$973 million.
Revenue increased by 6.2 percent to US$25.59 billion.
In 2020, packaged meats sales volume fell by 2.1 percent to 3.28 million metric tons.
The total number of hogs processed was 46.63 million heads, down by 13.3 percent. External sales volume of pork dropped by 3.95 million metric tons, 6.6 percent below that of the previous year. This was caused by China and...
Hong Kong stocks post first monthly drop since September
Reporting by Cheng Leng in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; Editing by Subhranshu Sahu, Reuters
via Financial Post (Canada) - Mar 31, 2021
BEIJING/SHANGHAI — Hong Kong shares fell on Wednesday, marking their first monthly drop in six, as a slew of weak earnings results and disappointing profit expectations dragged down property and material stocks...
... The top gainer on the Hang Seng was CITIC Ltd, which rose 2.22%, while the biggest loser was WH Group Ltd , which fell 12.74%...
China's WH Group sees higher hog prices after use of unapproved vaccines
By Dominique Patton, Reuters
via Yahoo Finance - March 30, 2021
BEIJING, March 30 (Reuters) - Use of illegal African swine fever vaccines by some Chinese hog producers last year reduced output of hogs and will support prices in 2021, an executive from leading pork processor WH Group said on Tuesday, spurring growth in imports of cheaper meats.
China has been trying to rebuild its massive hog herd since the deadly African swine fever virus ravaged the country's farms during 2018 and 2019.
But use of unapproved vaccines in a bid to protect against the disease had the opposite effect and ended up killing pigs, said Ma Xiangjie, president of Henan Shuanghui Investment and Development, WH Group's domestic unit.
Pig prices rose significantly at the end of 2020, as supplies tightened, Ma told reporters after the company released annual earnings, defying expectations of growing hog output.
"Since the second half of last year some pig producers in China, especially south of the Yangtze river, used some immature pig vaccines and caught African swine fever again," said Ma.
WH processed 46% fewer hogs...