DS Investment Securities noted on the 12th that ongoing economic downturns in China and the domestic market will require time for demand recovery concerning Dentium. They lowered the target price from 140,000 won to 80,000 won, while maintaining their investment opinion as 'buy.'
Dentium's revenue in the 1st quarter was 76.8 billion won, with an operating profit of 9.6 billion won. Revenue decreased by 7.1% compared to the same period last year, and operating profit fell by 50.2% during the same period. Researcher Kim Min-jung of DS Investment Securities explained, 'The economic downturn affecting sales in China and the domestic market, which are key to performance growth.'
Researcher Kim noted, 'Due to the implementation of China's secondary centralized procurement (VBP) policy starting in January 2026, a decline in product prices is expected,' and added, 'The postponement of product demand in the fourth quarter due to price drops is likely unavoidable.'
Additionally, they mentioned, 'Due to the economic downturn in China, it will be difficult to confirm any recovery in demand for the time being,' and asserted that 'The core variables for stock prices will be signals of demand recovery in China, margin improvements through the expansion of implant proportions, and strengthening shareholder return policies.'