[Announcement+] Sejong Industrial Reports Operating Profit of 13.1 Billion KRW Last Year, Up 6224% Year-on-Year

[Asia Economy Reporter Jang Hyowon] Sejong Industrial announced on the 19th that its operating profit on a consolidated basis last year reached 13.16837 billion KRW, an increase of 6224.3% compared to the same period the previous year. During the same period, sales increased by 11.1% to 1.2217 trillion KRW, and net profit turned positive to 5.7 billion KRW.

A Sejong Industrial official stated, “Thanks to the increase in domestic sales and the favorable North American market, we showed improved performance from the second quarter of last year and succeeded in turning a profit,” adding, “This year, we expect even better results due to the large-scale new car launch plans of our major client Hyundai-Kia Motor Company (HKMC) and the improved business environment of our Chinese subsidiaries, which had been somewhat sluggish last year.”

Sejong Industrial is building a business portfolio based on its core exhaust system business, including new growth engines such as automotive electronic components, key parts for hydrogen fuel cell vehicles, and smart car parts. Its electronics-specialized subsidiary, Asentec, established a local subsidiary, Asentec Vietnam, last year to further strengthen its foundation, and recently its status was elevated to a first-tier supplier for HKMC, creating an encouraging atmosphere.

Additionally, the company is continuously researching and developing sensor technology, a key component of hydrogen fuel cell vehicles, to achieve advanced quality. To enter the logistics automation industry, which has high demand for autonomous driving systems, Sejong Industrial became the largest shareholder of the solution-specialized company Mobius & Value Chain, establishing a full-scale mass production system and expecting tangible results.

Meanwhile, on the same day, Sejong Industrial’s board of directors also resolved to pay a cash dividend. The dividend is 50 KRW per share, with a total of 21,681,330 shares eligible, resulting in a total dividend amount of 1.08406 billion KRW. This corresponds to 10% of the face value and a dividend yield of approximately 1.2% based on the market price.