[Stock In Focus] Shinsung ENG Hits 1-Year High on Strong Earnings

New 52-Week High in Early Trading

Shinsung ENG recorded its highest share price in the past year during early trading, backed by a rebound in fourth-quarter earnings last year.

As of 9:25 a.m. on the 9th, Shinsung ENG was trading at 2,470 won on the Korea Exchange, up 12.02% from the previous session. In early trading, it rose to as high as 2,575 won, marking a new 52-week high.

The surge in the share price is attributed to last year's earnings rebound. On the 6th, Shinsung ENG announced on a preliminary basis that its consolidated sales for last year came to 570.3 billion won, with an operating profit of 1.9 billion won. Fourth-quarter operating profit reached 3.5 billion won, 14 times higher than in the previous quarter (250 million won). Fourth-quarter net profit also came in at 3.2 billion won, turning to the black from a loss in the previous quarter.

The improvement in results is understood to have been driven by an increase in overseas sales. A Shinsung ENG official said, "Last year, sales in overseas markets, particularly in the United States, increased significantly and contributed meaningfully to the company's overall profitability," adding, "Overseas business now accounts for more than 50% of our total results, and we are expanding our scope beyond semiconductors into various industries such as bio, food, and data centers. Therefore, we expect further overseas expansion to have a positive impact on our business going forward."

Shinsung ENG provides cleanroom solutions that are essential for semiconductor, display, and secondary battery production lines. The company also engages in solar power-related business in the renewable energy segment.