[Asia Economy Reporter Kwon Jae-hee] Hwasung, a secondary battery-related stock, is showing a strong stock price following a first-quarter 'earnings surprise.'
As of 2:13 PM on the 17th, Hwasung is trading at 23,500 KRW, up 15.20% compared to the previous trading day.
Hwasung, which announced its first-quarter results the day before, reported sales of 158.6 billion KRW and an operating profit of 52.4 billion KRW. Sales increased by 150.9% year-on-year, and operating profit turned positive.
Kim Yang-jae, a researcher at Daol Investment & Securities, analyzed, "Hwasung recorded a surprise performance due to strong demand in the secondary battery and semiconductor materials sectors. It has long-term earnings stability, and expectations for a large-scale expansion of the lithium hexafluorophosphate (LiPF6) plant in Poland remain valid."
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