Global cosmetics research, development, and production (ODM) corporation COSMAX is showing strength early in the session on the 25th. The surge in buying interest is interpreted as being due to the company's financial performance, which exceeded 2 trillion won for the first time.
As of 9:15 a.m. on this day, COSMAX is trading at 165,100 won, up 7.42% (11,400 won) from the previous trading day.
Earlier, on the 24th, COSMAX announced its performance for the last year. COSMAX reported that its consolidated sales last year increased by 21.9% year-on-year to 2.2161 trillion won. During the same period, operating profit rose 51.6% year-on-year to 175.4 billion won, and net profit increased 133.9% year-on-year to 88.4 billion won.
The buying interest is interpreted as being due to COSMAX's strong performance.
In the securities industry, analysts have raised COSMAX's target stock price. Korea Investment & Securities increased its target price from 200,000 won to 230,000 won, a 15% hike, while Hana Securities raised its target price from 200,000 won to 220,000 won, a 10% increase.
Kim Myung-joo, a researcher at Korea Investment & Securities, noted, “COSMAX's Korean corporation has the most client companies among OEM and ODM companies, which contributes to its low dependency on specific brands, leading to high performance stability,” adding, “COSMAX's stock price is expected to recover based on stable performance growth.”
Park Eun-jung, a researcher at Hana Securities, said, “With demand for expanding export-led brands and research and development capabilities increasing, export market share is expected to grow this year,” and added, “Although it has grown over 20% in the past two years, we will still project a 20% increase for this year's domestic corporation outlook based on a strong order base.”