[Market Highlight] Humedix Hits Record High on Filler Export Growth Momentum

Humedix is showing strong performance in early trading.

As of 9:40 a.m. on May 21, Humedix shares were trading at 49,050 won, up 7.80% (3,550 won) from the previous day. At one point during the session, the stock soared to 49,800 won, reaching a new 52-week high. This marks a three-day consecutive rally.

The stock's rise is believed to be driven by securities firms' analysis that growth in Humedix's filler exports is leading to structural margin improvement. In the first quarter, Humedix recorded sales of 40.1 billion won (down 3% year-on-year) and operating profit of 11.4 billion won (up 7%). In particular, filler exports surged to 9.2 billion won (up 18%), driving overall export sales growth.

Cho Eunae, a researcher at LS Securities, stated, "Although filler exports to China were sluggish due to delays in NMPA renewal, strong growth in filler exports to Brazil has elevated overall filler exports." She explained, "Brazilian filler exports appear to be diversifying from hospital and clinic-centered distribution networks to aesthetic channels through our partner company, and exports to China seem to have normalized since May."

Humedix is an aesthetics-focused subsidiary of the Huons Group, which operates in pharmaceuticals, medical devices, cosmetics, and health and functional foods. The holding company, Huons Global, currently owns a 36% stake. Cho further commented, "Sales from Thailand, which received product approval in the first quarter, are expected to be reflected from the second quarter, and product approvals are anticipated in the second half for body fillers in Brazil and facial fillers in Vietnam." She raised her target price from 57,000 won to 62,000 won.