EcoPlastic is showing strong performance. The news of a sharp increase in profits due to the rise in electric vehicle parts sales appears to have influenced the stock price.
As of 2:27 PM on the 9th, EcoPlastic is trading at 3,670 KRW, up 11.21% from the previous day.
EcoPlastic announced that it recorded sales of 1.82 trillion KRW and an operating profit of 38.5 billion KRW last year. Compared to the previous year, sales increased by 20.0% and operating profit rose by 144.2%. Net profit was 23.6 billion KRW, up 334.6%.
The company explained that sales increased due to the growth in electric vehicle parts sales and strong overseas exports. Additionally, it added that operating profit margin improved through internal cost reduction.
EcoPlastic is the number one domestic company in the plastic bumper sector. With the advent of the electric vehicle era, it has set a plan to strengthen its business competitiveness by developing new technologies and new products, aiming to lead the market as the number one company not only in Korea but worldwide. As the electric vehicle era progresses, the importance of vehicle lightweighting is becoming even greater.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
