APR sells part of stake in cosmetics manufacturer 'Nodinary'... "600% profit"

Strategic Investment in Nodinary in 2021
Partial Sale of Held Shares to Investee Company

APR announced on the 18th that it will sell part of its stake in the cosmetics manufacturing specialist company 'Nodinary' to Cornerstone Cheongryong 4th New Technology Fund, operated by the investor Cornerstone Investment Partners. Through this sale, APR achieved nearly 600% profit in three years since the investment.

The stock sale agreement signed by APR on the 17th was made after the disposal restriction period of the initially signed stock sale agreement had elapsed. APR explained that this also reflects Nodinary's intention to expand its business scope.

APR logo.

Nodinary is a cosmetics original design manufacturing (ODM) company founded in March 2020. It has various brands as clients, and among APR's brands, it has been contract manufacturing some products of 'MediCube' and 'Aprilskin'.

APR emphasized that according to this stock sale agreement, combining the sold shares and the remaining evaluated shares, it achieved a 600% profit in three years. In August 2021, APR acquired 16.77% of Nodinary's shares for 1 billion KRW, becoming the second-largest shareholder. Even after this sale agreement, APR retains remaining shares and plans to continue strategic partnerships with Nodinary.

Meanwhile, APR plans to continue investing in new businesses and high value-added areas in the future. APR is continuing investments to secure core technology and self-production for the beauty device 'MediCube AGE-R' and production facilities related to PDRN.

An APR official stated, "The investment made at the early stage of Nodinary's establishment, seeing the growth potential of the beauty industry, has returned great profits. In the future, besides strategic partnerships with Nodinary, we plan to achieve greater development in each area. We will continue investments that simultaneously boost the company and the industry overall, while paying more attention to enhancing investment value and profitability."