Wh Group Ltd. (hk) · HKEX:288
Wh Group Ltd. (hk) — Wh Group Ltd Ord — Q3 2025 Earnings Presentation
20 slides from Wh Group Ltd. (hk)'s earnings presentation, Oct 28, 2025
Slide 1: Third Quarter Results
SS sie ae 2025 Third Quarter Results Smithfield NASDAQ: SFD = MORLINY FOODS
Slide 2: Disclaimer
Disclaimer • This presentation and the accompanying slides (the "Presentation") have been prepared by WH Group Limited ("WH Group" or the "Company") solely for information purposes. • This Presentation does not constitute or form part of and should not be construed as, an offer or invitation to acqu
Slide 3: Table of Contents
Table of Contents 01 Financial Summary of 2025 First 3Qs 02 Business Review of 2025 First 3Qs 03 Business Strategies 04 Appendix 2
Slide 4: Financial Summary of 2025 First 3Qs
Financial Summary of 2025 First 3Qs 3
Slide 5: Consolidated Financials Overview
. Consolidated Financials Overview Key Operating Data 2025 First 3Qs (1) 2024 First 3Qs (1) Y-o-Y Change Packaged meats sold（000 metric tons) 2,231 2,282 -2.2% Pork sold (000 metric tons) 2,967 2,737 +8.4% Key Financial Data US$ Million 2025 First 3Qs (1) 2024 First 3Qs (1) Y-o-Y Change Revenue 20,4
Slide 6: Segment Revenue and Operating Profit
Segment Revenue and Operating Profit 2025 First 3Qs Revenue by Business Segments (1) 2025 First 3Qs Operating Profit by Business Segments (2) US$ million US$ million % % Others 8.7% 20.1% -3.0% 100% -58 82.9% 388 Total 1,926 20,477 Packaged Meats 1,596 Pork 49.9% 41.4% Packaged Meats Pork Others Tot
Slide 7: Business Review of 2025 First 3Qs
Business Review of 2025 First 3Qs
Slide 8: Hog Market Overview
Hog Market Overview In the first three quarters of 2025, hog prices in China fell continuously due to sufficient supply and weak demand. In the U.S., performance of hog production business improved significantly as feed prices continued to decline while hog prices increased. In EU, hog prices decrea
Slide 9: Pork Prices and Market Spread
Pork Prices and Market Spread U.S. Market Gross Spread US$/Kg 0.4 0.3 0.3 0.2 0.2 0.1 0.1 0.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 • The average pork cut-out value in the U.S. was US$2.29/kg in the first 3 quarter of 2025, an increase of 8.7% Y-o-Y. • Industry market spread narr
Slide 10: Operating Results – China
Operating Results – China Operating Profit and Margin (1) Packaged Meats (2) Pork (2) US$ million US$ million US$ million -0.7% -4.8% 724 729 724 689 27.4% 27.9% 11.7% 11.5% 41 35 1.3% 1.1% 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs Operating Profit Ope
Slide 11: Operating Results – North America
Operating Results – North America Operating Profit and Margin (1) Packaged Meats (2) Pork (2) US$ million US$ million US$ million 981 854 796 841 14.6% 12.9% 275 8.9% 8.5% 3.6% 80 1.2% 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs Operating Profit Operatin
Slide 12: Operating Results – Europe
Operating Results – Europe Operating Profit and Margin (1) Packaged Meats (2) Pork (2) US$ million US$ million US$ million -1.8% 225 221 111 105 100 8.3% 7.1% 78 7.3% 6.3% 6.9% 8.2% 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs 2024 First 3Qs 2025 First 3Qs Operating Profit Operating P
Slide 13: Business Strategies
Business Strategies 12
Slide 14: Business Strategies
Business Strategies WH Group will continue to consolidate its global resources, leverage synergies, adhere to the business philosophy of “improve mix, adjust price, and control costs” and the strategy of “industrialization, diversification, internationalization and digitalization” to enhance our lea
Slide 15: Appendix
ving MANA. -20° GRASA (SLO A ye Appendix
Slide 16: Product Innovation – China
Product Innovation – China High Temperature Products Snacking Products Western Brands Frozen Products Low Temperature Products 15
Slide 17: Innovative Marketing – China
Innovative Marketing – China Strategically advanced interest-based e-commerce operations • Implemented a robust product incubation framework encompassing online media promotion, interest-based e-commerce conversion, expansion into shelf-based platforms, and integration with offline retail channels.
Slide 18: Product Innovation – North America
Product Innovation – North America Enrobed Pretzel Dog Salami Marinated Loin Filet Low Sodium Ham Boneless Hams Fully Cooked Ribs Steak Deli Eckrich Andouille and Sliced & Ready Smoked Sausage 17
Slide 19: Product Innovation – Europe
Product Innovation – Europe Dry Sausage Ham Slices Csabai Snacks Spanish Charcuterie Deli Counter Products Grill Sausages Canned Goods Convenience 18
Slide 20: Investor Relations
Investor Relations Tel: (852) 2922 0736 Email: investor@wh-group.com 19