[Featured Stock] Youngone Corporation Reports Strong Q2 Earnings... Intra-day Rise of 3%

[Asia Economy Reporter Minji Lee] Youngone Corporation is showing a rise of over 3% during trading hours. This is analyzed to be due to improved investor sentiment following a second-quarter earnings surprise.

At 9:49 AM on the 17th, Youngone Corporation was trading at 45,600 KRW, up 3.64% from the previous trading day. The stock price surged to as high as 47,250 KRW during the session.

Youngone Corporation recorded consolidated sales of 945.6 billion KRW in the second quarter, a 39.5% increase compared to the same period last year. Operating profit rose 98.3% to 208.1 billion KRW, exceeding the consensus (average forecast by securities firms) by 35%.

Huh Jena, a researcher at DB Financial Investment, said, “The overall decline in stock prices of global apparel manufacturers reflects a preemptive reaction to a slowdown in end-market consumption and the resulting potential decrease in orders for manufacturers. Unlike other companies, Youngone’s buyers are increasing orders for fall and winter season products following the spring and summer seasons and actively stocking inventory, which is expected to drive stock price gains.”