[Featured Stock] Lotte Chemical, 2.9%↑ on Record High Operating Profit Forecast

[Asia Economy Reporter Minji Lee] Lotte Fine Chemical is rising more than 2%. While most KOSPI companies are showing a downward trend, the stock price is maintaining an upward trend as expectations for improved earnings are reflected.

At 9:50 a.m. on the 24th, Lotte Fine Chemical was trading at 73,600 KRW, up 2.94% from the previous trading day. Despite negative external factors such as prolonged inflation and interest rate hikes, the securities industry's expectations that the company can achieve record-high earnings are believed to have led to increased investor sentiment.

Hana Financial Investment forecasted that Lotte Fine Chemical will record an operating profit of 320.8 billion KRW this year, a 27% increase from the previous year, setting a new record. Yoon Jaesung, a researcher at Hana Financial Investment, explained, “In competing countries like China, epoxy raw material (ECH) production is based on glycerin, whose price is soaring, so Lotte Fine Chemical’s competitiveness, which produces based on propylene, is expected to strengthen,” adding, “China is also experiencing reduced operating rates due to electricity price hikes caused by supply instability of traditional energy sources such as coal.”