KPS Achieves 63.2 Billion KRW in Sales and 6.5 Billion KRW Operating Profit in H1...Emerges as a Leading Performance Stock

KPS, which has demonstrated a successful M&A (mergers and acquisitions) track record, not only achieved performance growth in the first half of this year but also secured financial stability, significantly enhancing its corporate value. Operating profit on both consolidated and individual bases turned positive compared to the previous year, and solid funds were secured through the sale of existing shares of its subsidiary for IPO (initial public offering).

KPS announced on the 14th that its consolidated sales for the first half reached approximately 63.2 billion KRW, a 71.6% increase from the previous year. Operating profit achieved 6.5 billion KRW, turning from a slight loss last year to a substantial profit. Net profit also turned positive, recording 1.7 billion KRW.

On a separate basis, sales and operating profit were 3.4 billion KRW and 600 million KRW respectively, representing a 150% increase and a turnaround to profit compared to the previous year. Notably, net profit reached 13.3 billion KRW, thanks to the partial sale of shares in its subsidiary Battery Solutions.

KPS raised a total of 32 billion KRW by selling about 27% of its shares in Battery Solutions to domestic institutional investors to dilute its stake in preparation for the IPO. Based on the sale price, Battery Solutions’ corporate value is 150 billion KRW, with the remaining stake held at 72.83%.

Battery Solutions’ cumulative sales and operating profit for the first half were 54.8 billion KRW and 7.6 billion KRW respectively, growing 22.7% and 80.4% compared to the same period last year.

Kim Hayong, KPS’s CEO, stated, "Since acquiring Battery Solutions, we have established ourselves as a profitable company, and we will prepare well for the IPO to maximize shareholder value. We will actively leverage this financial soundness to secure our identity in the pharmaceutical and bio sectors and accelerate the pursuit of new growth engines."

Meanwhile, KPS has been conducting bio-business through its subsidiaries. BigThink Therapeutics is currently selling the breast cancer new drug Neorings (active ingredient: neratinib maleate), and Algok Bio is conducting clinical trials for new drug candidates targeting folate receptor alpha, Idetrexed, and TM4SF4-targeting antibody anticancer drug candidates.