Hanse recovers factory operation rate quickly (Daeshin Securities)
Hanse recovers factory operation rate quickly (Daeshin Securities)
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  • 승인 2021.11.15 08:01
  • 최종수정 2021.11.15 08:00
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한세실업
한세실업

Daishin Securities said on the 15th that it maintained its investment opinion on "buy" and raised its target price by 14 percent to 40,000 won while raising its performance in the fourth quarter of this year and the first half of next year.

In the third quarter of this year, Hanse's sales fell 35% year-on-year to 416.3 billion won and operating profit fell 64% to 17.9 billion won.

As Vietnam was locked down due to COVID-19, the factory utilization rate fell to the early 10% from August to September, causing great damage.

In the third quarter of last year, sales and operating profit declined further due to the base burden caused by special quarantine products.

Excluding quarantine products, sales grew 9% against the U.S. dollar. The operating profit ratio stood at +4.3%, down 3.6% p from a year earlier, and there was no peak season effect.

However, in the fourth quarter, Vietnam is rapidly recovering the factory operation rate of Hanse Industrial due to the resumption of the economy.

Analysts say that clothing has a relatively simple process and has a short process period, so the recovery of its utilization rate is faster than that of other industries and other products.

Due to the production of orders postponed during the lock-down period in the third quarter, sales growth based on dollars in the fourth quarter is expected to increase 18% year-on-year. The exchange rate for the fourth quarter is also expected to rise more than 4% on average, with won sales expected to grow at around 20% year-on-year.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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