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[Apha Biz=(Chicago) Reporter Paul Lee] Sangsangin Securities maintained its investment opinion and target stock price of KRW 35,000 for Aekyung Industrial on the 8th. Although the company has reorganized its growth engines through various improvement of the constitution and restructuring, the company believes that it is time to actively buy them as the stock price remains in the undervalued section.
"Aekyung's stock price has been on a long-term decline for more than five years since its listing in 2018," Sangsangin Securities said. "At that time, consolidated operating profit reached 79.2 billion won, exceeding 2 trillion won in market capitalization, but due to △ single brand and item risk △ high dependence on home shopping, which was the main channel, annual operating profit fell to 20 billion won from 2020 to 2021."
Sangsangin Securities added, "However, it has been on a recovery track since last year, and its annual operating profit is expected to exceed 60 billion won this year."
"Cosmetics still have a high proportion of sales in China," Sangsangin Securities said. "However, markets such as Japan and the U.S. are diversifying while maintaining a high share in the local market, and domestic sales are already increasing, especially in Russia and Central Asia."
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
