Kiwoom Securities expected Hyosung Chemical to turn its polyketone business into a surplus on the 3rd. The target price remained at 460,000 won and the investment opinion remained 'buy'.
Kiwoom Securities expects Hyosung Chemical's polyceton sales to reach 83.1 billion won next year. It explained that polyketone sales, which were only 6 billion won in 2017, grew at an annual average of 70%.
"As automakers have recently expanded their ESG management, we are trying to reduce carbon dioxide emissions compared to other infrastructure in manufacturing," Kiwoom Securities said. "The recruitment of polyketone parts for electric vehicles is expanding by using carbon monoxide as raw materials.".
It predicted that Hyosung Chemical's polyceton business would shift its profits due to the expansion of the polyketone market.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
