Hyosung Heavy Industries is showing a sharp upward trend in the stock market on the 29th, driven by improved earnings and increased orders.
As of 11:07 AM on the same day, Hyosung Heavy Industries' stock price was trading at 314,000 KRW, up 7.90% compared to last week's closing price. This is interpreted as a result of buying interest from investors who confirmed the significantly improved first-quarter earnings of Hyosung Heavy Industries over the past weekend.
On the 26th, Hyosung Heavy Industries announced that its first-quarter consolidated operating profit was 56.165 billion KRW, an increase of 298.22% compared to the same period last year.
The securities industry analyzed that Hyosung Heavy Industries improved profitability due to contract renewals at construction sites in the construction division and a return to profitability in the heavy industry division. At the same time, with increasing orders, it is expected to continue the trend of earnings improvement within the year.
Kim Kwang-sik, a researcher at Sangsangin Securities, stated in a report on the day, "With the increase in Internet Data Centers (IDC) and renewable energy, new and replacement demand for power equipment in Europe is rising, and orders this year are expected to increase by about 18% compared to last year," adding, "The earnings improvement trend of Hyosung Heavy Industries is expected to continue."
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