[Featured Stock] Daewon Industry Surges Over 20% on 'Surprise Earnings'

Shares of Daewon Industrial, an automobile seat manufacturer, are on the rise. This is interpreted as an effect of exceeding expected performance.

As of 9:34 a.m. on the 7th, Daewon Industrial's stock price recorded 7,330 KRW, up 20.96% compared to the previous day. The strong performance announced the day before appears to have acted as a positive factor.

The day before, Daewon Industrial disclosed that it recorded consolidated sales of 931.5 billion KRW and operating profit of 75 billion KRW last year. Sales increased by 19.6% and operating profit by 58.5% compared to the previous year.

Daewon Industrial manufactures and supplies automobile seats for Kia vehicles such as the domestic Carnival, Morning, and EV3. Its subsidiaries in China, Russia, and Vietnam also supply automobile seats to locally produced Hyundai and Kia vehicles.