Shinwon is experiencing a strong early trading session, with shares rising over 17% following the announcement of record revenue and a 644% increase in operating profit for the second quarter of this year.
As of 9:21 a.m. on August 18, Shinwon's stock was trading at 1,252 won, up 182 won (17.01%) from the previous trading day, according to the Korea Exchange.
The company reported that its consolidated revenue for the second quarter reached 309.9 billion won, marking an approximate 11% increase compared to the same period last year. This is the first time quarterly revenue has exceeded 300 billion won since the company's founding.
During the same period, operating profit soared to 7.5 billion won, a staggering 644% increase year-on-year. For the first half of the year, cumulative revenue reached 590.7 billion won, the highest half-year performance on record, while operating profit also rose to 13.8 billion won, up about 92% from the same period last year.
According to the company, it plans to continue restructuring its global production bases and expanding production capacity in the second half of the year, while also utilizing artificial intelligence transformation (AX) to enhance efficiency in production planning and process management. In the domestic market, Shinwon aims to sustain its growth by expanding distribution channels for its major brands.
Park Jeong-bin, Vice Chairman of Shinwon, stated, "This performance is the result of strengthened competitiveness in both the export and domestic fashion sectors, leading to mutual growth. We will continue to refine our business structure and enhance our growth momentum to ensure stable profitability improvements."
* This article has been translated by AI.
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