Hyungji Elite has reported simultaneous growth in revenue and operating profit, driven by strong performance in its sports commercialization business.
The company announced on August 24 that its consolidated revenue for the period from July of last year to June of this year reached 177.8 billion won, an increase of approximately 7% compared to the same period last year. During the same timeframe, operating profit rose by about 27% to 8.4 billion won.
Company officials attributed the improved performance to growth in key sectors, including sports commercialization, and effective management practices. They also noted that the resolution of one-time losses from the previous year, which were due to temporary accounting evaluations, contributed to a net profit of 7.4 billion won, marking a return to profitability.
A representative from Hyungji Elite stated, "The results from our core sectors, such as sports commercialization, are becoming more pronounced, and our focus on sound management practices is yielding positive results across key performance indicators. With simultaneous growth in scale, profitability, and financial stability, we expect to continue this upward trend."
In addition, Hyungji Elite is expanding into new business areas. Its robotics subsidiary, Hyungji Robotics, recently signed a technology cooperation and exclusive commercialization agreement with Shanghai Zhongshai Robot Co., Ltd. The two companies had previously entered into a joint research and development agreement in January for a senior-customized wearable robot and are now preparing for domestic distribution and sales.
* This article has been translated by AI.
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