Yuanta Securities Korea evaluated on the 5th that it expects performance improvement for Meatbox in the second half of this year. No investment opinion or target stock price was provided. The previous closing price of Meatbox was 10,440 won.
Kwon Myeong-jun, a researcher at Yuanta Securities Korea, cited factors for expected performance improvement in the second half of this year compared to the previous year and the first half as ▲people's livelihood recovery consumption coupons effect ▲seasonality ▲one-time expense reduction.
Researcher Kwon noted, "According to a survey by the Rural Development Administration, 83.5% of respondents plan to use consumption coupons for purchasing food items such as fruits and meat," and added, "Transaction volumes and performance at butcher shops are expected to have improved."
Regarding seasonality, it was explained that Meatbox tends to show improved performance in the second half compared to the first half. Generally, the peak seasons for livestock product consumption include Lunar New Year, vacation season, Chuseok, and year-end, with significant consumption seasons concentrated in the second half, excluding the Lunar New Year.
Researcher Kwon explained regarding the reduction of one-time expenses, "Costs related to Initial Public Offering (IPO), expenses for establishing Meatmatch loans, and provisions for inventories have been factored in, but related costs are expected to decrease in the second half."