LIG Nex1 reported an 'earnings surprise' that exceeded market expectations, leading its stock price to reach an all-time high.
LIG Nex1 shares were traded at 416,000 won on the KOSPI market at 1:10 p.m. on the 8th. The stock increased by 23.63% (79,500 won) compared to the previous day. During trading, the stock price surged to 419,500 won, marking an all-time high.
LIG Nex1 announced that it has provisionally recorded consolidated sales of 907.6 billion won and operating profit of 113.6 billion won for the first quarter (January to March) of this year. Both sales and operating profit were 12% and 74% higher than market expectations, respectively.
LIG Nex1 explained that it achieved strong performance bolstered by an increase in domestic production projects, including the medium-range surface-to-air missile Cheongung II and the infantry medium-range guided weapon Hyunmu. LIG Nex1 plans to continuously expand its growth base, focusing on integrated air defense, manned and unmanned systems, and export expansion.
Additionally, LIG Nex1 opened the 'LIG Nex1 2 Pangyo House' equipped with state-of-the-art research and development (R&D) and testing facilities last January, and plans to complete the Daejeon House satellite system integration and testing facility optimized for future space industries in the first half of this year.