[Special Stock] Hyosung Shares Rise 10% on Surprise Q1 Earnings

[Asia Economy Reporter Minji Lee] As Hyosung posted a surprise strong performance in the first quarter driven by its equity-method affiliates, the stock price is showing an upward trend amid expectations that this momentum will continue into the second quarter.

At 9:34 a.m. on the 3rd, Hyosung was trading at 109,000 KRW, up 9.66% from the previous trading day. On the same day, Hyosung's stock price rose to the 110,000 KRW level during intraday trading.

In the first quarter, Hyosung recorded an operating profit of 100.6 billion KRW, a 707% increase compared to the same period last year. The net income attributable to controlling shareholders also turned positive, reaching 71.7 billion KRW. The strong performance was influenced by the excellent first-quarter results of its equity-method affiliates. Hyosung TNC, Hyosung Advanced Materials, and Hyosung Chemical all posted triple-digit growth rates in operating profit for the first quarter, exceeding market expectations.

In the securities industry, it is expected that this trend will continue into the second quarter. Ji-hwan Yang, a researcher at Daishin Securities, explained, “Hyosung TNS is expected to recover its performance in the second quarter due to sales recognition from supplying store-type robot kiosks and unmanned checkout counters, as well as delayed customer orders being reflected in sales. With the equity-method affiliates expected to maintain strong performance in the second quarter, Hyosung’s strong results are also expected to continue.”