(Featured Stock) Hyungji Elite, Stock Price Soars for Second Day on Expectations of Performance Improvement

has been on a high for two consecutive days in the stock market. This is interpreted as an increase in expectations for performance growth since the company disclosed its annual performance report on the 20th.

As of 1:08 PM on the 25th, Hyungji Elite was trading at 2,050 won, up 21.81% from the previous day’s closing price. It rose sharply from the beginning of the session, approaching the 2,200 mark before undergoing a slight adjustment.

Hyungji Elite also hit the upper limit the day before, rising 29.96%. It rose about 55% in two days. The upward trend began on the 11th, and the stock price has risen for eight consecutive trading days.

The stock price increase reflects expectations that performance will increase sharply. In the business report released on the 20th, Hyungji Elite announced that its annual operating profit from July last year to June this year was 7 billion won, a 182% increase over the same period the previous year. Sales, which were only 94.5 billion won a year ago, also recovered to 133 billion won.

The performance of Shanghai Elite, a Chinese joint venture of Hyungji Elite, also showed growth. Shanghai Elite’s sales increased by 15% year-on-year to KRW 18.3 billion. The expansion of the premium school uniform supply chain to private schools and international schools led to improved performance.

<ⓒ투자가를 위한 경제콘텐츠 플랫폼, 아시아경제(www.asiae.co.kr) 무단전재 배포금지>