[Asia Economy Reporter Yoo Hyun-seok] Daeyang Metal announced on the 1st that its sales in July increased by more than 50% compared to the same period last year, achieving the highest monthly sales this year. Sales in August are also expected to be at a similar level.
Due to the prolonged COVID-19 pandemic and the spread of stay-at-home culture, demand for home appliances such as dryers and air conditioners has surged amid the heatwave. Some products have sold out as soon as stock is available, even forming waiting lines of customers eager to purchase.
Recently, interior home appliances have gained attention. With the rise of the "stay-at-home trend," major companies like Samsung Electronics and LG Electronics have broken away from the traditional white appliance market by launching products such as "Samsung Bespoke" and "LG Objet Collection," leading to a sharp increase in appliance sales.
Riding this market growth, Daeyang Metal completed the development of new products for home appliances, including dryers, heat exchangers, and dishwashers, starting in April this year. The company is currently operating all production lines and maintaining stable external growth. Given the nature of the home appliance industry, where demand concentrates in the second half of the year due to events like Black Friday, additional sales growth and profit improvement are expected.
A company official stated, "Along with the rise in raw material prices due to the recovery of the global steel market and a favorable market environment, we achieved visible results such as reaching the highest monthly sales in July this year," adding, "Market demand is expected to increase further due to COVID-19 revenge consumption, and to respond to this, we are accelerating the expansion and relocation of our southern business office, so we anticipate a remarkable growth trend in performance in the second half of the year."
He continued, "We are also stepping up efforts in the liquefied hydrogen business, which we entered to secure new growth engines," and added, "We will do our best to expand new businesses by cooperating with Hylium Industry using existing stainless steel thin plates and other materials."
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