[Market Focus] Hyosung Jumps Over 4% on Increased Equity Method Gains from Subsidiaries

Hyosung's stock price is on the rise after the company reported a surprise performance in the second quarter of this year, driven by increased equity method gains from its subsidiaries.

As of 10:44 a.m. on July 29, Hyosung was trading at 82,600 won, up 3,300 won (4.16%) from the previous trading day.

Previously, on July 25, Hyosung announced its second quarter results, reporting sales of 601.9 billion won. This represents a 6.7% increase compared to the same period last year. Operating profit reached 99.1 billion won, a 159.5% increase.

On this day, Daishin Securities maintained its "Buy" investment opinion on Hyosung and raised its target price from 82,000 won to 115,000 won.

Yang Ji-hwan, a researcher at Daishin Securities, explained, "Hyosung delivered a surprise performance in the second quarter of this year, with operating profit significantly exceeding market expectations. Equity method gains increased due to the earnings surprise at Hyosung Heavy Industries, and the performance of the consolidated subsidiary Hyosung TNS also improved. In addition, Hyosung Chemical, which was expected to post equity method losses, reflected equity method gains from the sale of the Onsan Terminal."