Shinyoung Securities presented its investment opinion 'buy' on Seoyon E-hwa on the 9th.
Seoyon E-hwa is a manufacturer specializing in auto parts and supplies a significant portion of its production parts to Hyundai Motor and Kia Motors.
It also supplies parts to global car makers such as Mercedes-Benz and Volkswagen through overseas subsidiaries Sales of Seoyon E-hwa reached 523.8 billion won in the first quarter, up 17.02 percent (76.2 billion won) from a year earlier. Operating profit in the first quarter was 17.2 billion won, which turned into a surplus.
Seoyon E-hwa has led maximum first-quarter sales since the first quarter of 2017 due to increased production at its plants in the U.S. and India and improved performance stemming from high-end built-in trends following the introduction of new cars from Hyundai and Kia.
"Seoyon E-hwa's performance is also positive in Europe, which has recorded the highest sales ever since the first quarter of 2015, along with the growth of North America," said Shinyoung Securities "This year, we can expect to achieve 2 trillion won in consolidated sales.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com