Data Solution has seen its shares rise sharply for two consecutive days, reaching the upper limit of trading after announcing a major supply contract that exceeds four times its revenue from the previous year.
According to the Korea Exchange, as of 10:24 a.m. on July 9, Data Solution's stock was trading at 7,720 won, up 1,780 won (29.97%) from the previous trading day.
After closing at the upper limit of 5,940 won the previous day, the stock opened at the upper limit again today. Although it briefly retreated to 6,200 won at 9:04 a.m., buying interest returned, allowing it to recover to the upper limit.
The surge in stock price is attributed to the announcement of the large supply contract. Data Solution disclosed that it signed a supply contract worth approximately 438.1 billion won with Samsung SDS after the market closed on July 7.
This contract is related to the 'AI Computing Resource Utilization Enhancement Project' promoted by the National IT Industry Promotion Agency (NIPA). Data Solution plans to sell and install foreign products through Samsung SDS, a cloud service provider.
The contract amount is about 4.2 times Data Solution's consolidated revenue of 103.8 billion won last year. In 2022, Data Solution reported revenue of 103.8 billion won and an operating profit of 1.2 billion won. The market capitalization, which was around 742 billion won before the announcement, increased to 964 billion won the previous day.
* This article has been translated by AI.
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