[Asia Economy Reporter Lee Gwan-joo] Trading of Huem&c, a subsidiary of Huons Group, on the KOSDAQ will resume. Huem&c announced that it received a decision to maintain its listing at the KOSDAQ Market Committee on the 7th.
Accordingly, trading of Huem&c's shares will resume from the 11th. This comes after a suspension of trading since May 29, 2020, marking 2 years and 4 months.
After being acquired by Huons Global in March last year, Huem&c has enhanced its operational sustainability, financial soundness, and management transparency through intensive structural improvements over 1 year and 6 months. In the second quarter of this year, on a consolidated basis, it recorded sales of 13.6 billion KRW and operating profit of 800 million KRW, achieving a turnaround to profitability with increases of 217% and 699% respectively compared to the same period last year.
Earlier, on July 1, Huem&c announced its ambition to grow into a ‘total healthcare materials company’ by absorbing Hubena. By adding Hubena’s pharmaceutical materials business to its existing core cosmetics materials business, it has set a goal to expand its business scope and target markets, thereby increasing sales and improving profitability.
In the mid to long term, the plan is to develop a business model linking the cosmetics materials business with the medical container portfolio, evolving into a total package specialist company leading the healthcare industry in the rapidly growing contract development and manufacturing organization (CDMO), OEM, and ODM markets.
Kim Jun-cheol, CEO of Huem&c, said, “We have successfully turned profitable by driving overall strong performance. We plan to create a full-fledged growth trend through business diversification,” adding, “We will strive to repay the trust and patience of our shareholders.”
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