[Click e-Stock] Ray Expected to Recover Sales in the US and China

Eugene Investment & Securities analyzed on June 5 that Ray is expected to see continued growth in its performance, driven by increasing replacement demand, particularly in the United States and China. The company did not provide an investment opinion or target price.

Ray posted sales of 24.5 billion KRW and operating profit of 200 million KRW in the first quarter of this year. Compared to the same period last year, sales increased by 40.9%, and the company turned to an operating profit. Park Jongseon, a researcher at Eugene Investment & Securities, stated, "The significant increase in performance was due to growth not only in the United States and China but also in other Asian regions."
He added, "In the United States, the shift toward interest rate cuts and replacement demand led to a turnaround in growth in the first quarter, and we expect continued growth going forward. Although sales in China had declined significantly over the past five quarters due to the economic downturn and reduced investment, there was a sharp turnaround in growth in the first quarter, and we expect this performance growth to continue."
Eugene Investment & Securities forecasts that Ray will record sales of 31.9 billion KRW and operating profit of 2.2 billion KRW in the second quarter. Compared to the same period last year, this represents a 29.0% increase in sales and a turnaround to operating profit.
He emphasized, "We expect continued performance growth in the second quarter due to replacement and new demand based on the United States, China, and other Asian regions, following the growth seen in the first quarter," adding, "We anticipate a turnaround in the stock price starting from the performance rebound in 2025."