Coway, listed on the securities market, recorded a 52-week high during trading on the 17th due to aggressive stock return policies and other influences.
Coway's stock was trading at 84,900 won, up 3.79% (3,100 won) compared to the previous trading day as of 9:23 a.m. on the same day. At one point during trading, Coway reached 85,000 won, marking a 52-week high.
Coway's favorable performance and expectations for shareholder return policies appear to be driving up the stock price. Earlier, Coway announced that its consolidated revenue for the previous year increased by 8.7% year-on-year to 4.3101 trillion won, and operating profit rose by 8.8% to 795.4 billion won. This marks the first time Coway has surpassed 4 trillion won in annual revenue since its founding. Coway also raised its shareholder return rate from 20% to 40%.
Jo Sang-hoon, a researcher at Shinhan Investment Corp., noted that the company has a business model that generates stable cash flow regardless of the consumer economy.
Orin Ah, a researcher at LS SECURITIES, analyzed that while domestic consumption is weak, Coway's acquired subscription-based revenue model is showing stable performance, adding that the efforts in new product and category expansions, research and development investments, and overseas business expansions are yielding positive results.