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March 30, 2024

[EQUITIES] ‘Cosmax’s outlook rosy in China’

PUBLISHED : August 14, 2018 - 11:37

UPDATED : August 14, 2018 - 11:37

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[THE INVESTOR] Cosmax showed noticeable improvement in earnings thanks to growing exports to China, said Yuanta Securities Korea on Aug. 14, maintaining a “buy” recommendation and 205,000 won (US$180.82) target price.




Its revenue in the second quarter jumped 41 percent on-year to 327.5 billion won and operating profit 29.7 percent to 18.6 billion won. Domestic operations gained over 38 percent and propelled the advance Having pushed overseas expansion, it is growing sharply in China with over 30 percent growth rate, while profits in the US will recover boosted by NuWorld, said analyst Lee Seon-hwa.

It will flourish in China, in particular, and has 3 projects underway, each worth more than 10 billion won in annual revenue. The firm is expected to post a sharp upturn in the market, and by the end of this year, Cosmax will show the largest growth potential in the industry, the analyst underlined.

By Hwang You-mee (glamazon@heraldcorp.com)

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