[Click eStock] "Samyang Foods, Q2 Earnings Expected to Hit Record High"

[Asia Economy Reporter Oh Ju-yeon] Samyang Foods' performance in the second quarter of this year is expected to record an all-time high. It is analyzed that the increase in sales of Samyang Foods' Buldak Bokkeum Myun during China's largest online shopping event in the first half of the year, the '618 Shopping Festival,' drove this growth.

On the 22nd, Kiwoom Securities forecasted that Samyang Foods' consolidated sales in the second quarter could grow by more than 20%.

Researcher Park Sang-jun explained, "Domestic ramen sales are estimated to decrease compared to the first quarter due to the easing of food stockpiling and the resumption of outdoor activities, but exports of Buldak Bokkeum Myun have significantly increased due to the impact of the China 618 Shopping Festival, resulting in Samyang Foods' exports in April and May increasing by about 50% year-on-year." Therefore, even with a conservative assumption for June exports, it is judged that the highest quarterly export performance in history can be achieved in the second quarter.

Researcher Park maintained a 'Buy' investment opinion on Samyang Foods and raised the target stock price from the previous 155,000 won to 170,000 won.

Researcher Park stated, "Overall sales are steadily growing at a high rate, centered on the expansion of Buldak Bokkeum Myun exports," adding, "In particular, the export ratio within ramen sales has expanded to over 60% from this year, leading to continuous growth in overall profits. The expected price-to-earnings ratio (PER) for this year is also around 10 times, which is relatively undervalued compared to competitors."