[Special Stock] Cosmetics Stocks Expected to Achieve Record High Performance... Hengsheng Group Rises↑

The Ministry of Food and Drug Safety announced that from January to November this year, South Korea's cosmetics export volume reached $9.3 billion (provisional), surpassing the previous record of $9.2 billion in total exports for 2021, and Hengsheng Group is showing strong performance.

As of 1:21 PM on the 3rd, Hengsheng Group is trading at 305 KRW, up sharply by 18.22% compared to the previous trading day.

Korean cosmetics exports were recorded at $8.5 billion in 2023, and with $9.3 billion recorded through November, a significant growth compared to the previous year is expected.

Hengsheng Group started its cosmetics business in July through its Korean subsidiary, HS Beauty, and the cosmetics business has shown results beyond expectations, greatly improving third-quarter earnings.

Hengsheng Group appears to have growing expectations alongside the expansion of its cosmetics business. It currently distributes 17 domestic brands, consisting of skincare products and color cosmetics. The company plans to expand its business by securing various brands and sales channels in the future, while moving beyond simple distribution to acquiring exclusive brand distribution rights.

According to a company official, “Since the new cosmetics business has been fully launched in a short period, it is expected to become a cash cow for the company going forward,” adding, “We will continue to secure additional brands and sales channels to pursue sustainable growth.”