[Featured Stock] Hyundai Elevator Falls for 5 Consecutive Trading Days Amid Poor Earnings

[Asia Economy Reporter Koo Eun-mo] Hyundai Elevator recorded a new low price after falling for five consecutive trading days.

As of 9:56 a.m. on the 21st, Hyundai Elevator was trading at 57,300 KRW, down 1.55% (900 KRW) from the previous trading day. During the session, it fell to 57,200 KRW, marking a 52-week low.

The day before, Hyundai Elevator announced through a disclosure that its operating profit last year was 128.23563 billion KRW, down 10.4% compared to the previous year. During the same period, sales decreased by 1.7% to 1.8458 trillion KRW, but net profit surged by 4650.4% to 69.27436 billion KRW.

Performance is also expected to decline this year. Researcher Hwang Eo-yeon of Shinhan Financial Investment explained in a report on the same day, "This year's sales are projected to decrease by 9.3% from the previous year to 1.7 trillion KRW, and operating profit is expected to decrease by 15.1% to 108.9 billion KRW," adding, "There is uncertainty in first-quarter export performance due to delays in elevator installations in China caused by COVID-19."