[Special Stock] AmorePacific Weakens on 1Q Earnings Disappointment Forecast

Amorepacific's stock price is declining in early trading on the 30th as securities firms predict weak first-quarter earnings.

As of 10:11 a.m. on the day, Amorepacific is trading at 133,000 KRW on the KOSPI, down 2.13% from the previous trading day.

The stock price even fell as much as 2.72% intraday to 132,200 KRW.

Park Eun-jung, a researcher at Hana Securities, analyzed, "Amorepacific's first-quarter operating profit is expected to be 76.7 billion KRW, down 51% from the same period last year, which is 32% below market consensus," adding, "The decline in sales in China is the main factor behind the weak performance."

Park Shin-ae, a researcher at KB Securities, also said, "The sharp drop in demand from Chinese daigou (personal shoppers) worsened the domestic cosmetics segment's performance, and the Chinese subsidiary's results were weak due to slower-than-expected demand recovery," adding, "The first-quarter operating profit is expected to be around 87.3 billion KRW, down 45% year-on-year."