[Featured Stock] Strong Earnings, New Car Expectations... KG Mobility Surges

As of 10:13 AM on the 26th, KG Mobility's stock price is trading at 4,535 KRW, up 14.09% from the previous closing price. This appears to reflect news of two consecutive years of profitability and anticipation for new car models in March.

Earlier, on the 24th, KG Mobility announced its last year's performance based on consolidated financial statements: sales of 3.9051 trillion KRW, operating profit of 1.6 billion KRW, and net profit of 34.9 billion KRW. While net profit increased by 279%, operating profit decreased by 87.6%.

Regarding the decrease in operating profit, the company explained, "Operating profit based on separate financial statements increased due to new car launches, expanded global market penetration leading to increased export volume, and exchange rate effects; however, operating profit on consolidated financial statements decreased compared to the previous year due to reflecting operating losses of subsidiaries." Based on separate financial statements, sales were 3.7825 trillion KRW, operating profit was 12.3 billion KRW, and net profit was 46.2 billion KRW. KG Mobility recording two consecutive years of profitability in operating profit and net profit is the first time in 20 years since 2004.

KG Mobility is set to launch the country's first electric pickup truck, the 'Musso EV,' and the 'Torres Hybrid' next month. This year's sales target is 135,000 units, which is 23.4% higher than last year.