On the 2nd, Samyang Foods' stock price showed a strong performance of over 2%, nearing the prestigious stock level (over 1 million won per share).
Samyang Foods' stock is trading at 994,000 won as of 9:55 a.m. on the 2nd, up 24,000 won (2.47%) from the previous trading day. During the day, it reached 996,000 won, setting a new annual high.
Kiwoom Securities estimated that Samyang Foods will record a consolidated sales amount of 531.3 billion won and an operating profit of 115.3 billion won for the first quarter (January to March) of this year. This represents an increase of 38% and 44%, respectively, compared to the same period last year, exceeding market expectations.
Park Sang-jun, a researcher at Kiwoom Securities, noted, “The operation of the Miryang Plant 2 will begin in the second quarter (April to June), and a significant increase in production is expected in the third quarter (July to September).” He added, “As China also moves out of the off-season after the Lunar New Year and as the year progresses, the seasonality will strengthen, making it likely that there will be a clear upward trend in quarterly performance this year.”
In the securities industry, Samyang Foods is being pointed out as a candidate for new inclusion in this month's regular changes to the Morgan Stanley Capital International (MSCI) Korea Index. Bae Cheol-kyu, a researcher at NH Investment & Securities, said, “Amidst a volatile market, Samyang Foods is a strong candidate for inclusion.” MSCI will announce the results of the May review at 14:00 Korean time on the 14th.