[Click eStock] "Wontech, Overseas Sales to Increase Significantly This Year"

Hanyang Securities forecasted that the overseas references steadily accumulated since last year for 2-person Wontec will be fully demonstrated this year.

Wontec is a beauty medical device specialized company that manufactures and sells Olligeo, an anti-aging, lifting (facial contour), and tightening (elasticity) specialized device. Olligeo, developed with the world's second and Korea's first Monopolar RF method, is the core of its sales.

In the third quarter of this year, the upgraded models OlligeoX and OlligeoKISS received approval from the Ministry of Food and Drug Safety, and the laser device Lavieen obtained FDA certification. OlligeoX is priced more than 50% higher than the existing model and is understood to demonstrate a high level of technology even compared to overseas products.

Lee Joon-seok, a researcher at Hanyang Securities, analyzed, “Wontec has a relatively high domestic sales ratio but is actively attempting overseas expansion through certifications and inspections in various countries. The overseas references steadily accumulated since last year will be fully demonstrated this year.”

He said, “The third-quarter performance last year fell short of consensus,” but added, “However, from next year, the full-scale growth of OlligeoX and the increase in Lavieen exports to Brazil will become visible.”

He continued, “As of the third quarter, 120 units of Lavieen exported to Brazil showed favorable sales, and 35 units were sold this year after the Olligeo launch show in Malaysia. An additional 65 units are confirmed by next year, and with the launch of a new brand, performance growth will continue in 2024.”