[Special Stock] Hyeongji Elite Hits 52-Week High... Stock Soars on Record-Breaking Earnings
16.76% Increase, Reaching a Peak of 1,640 Won Before Adjustment
Sales of 132.7 Billion Won, Record High Performance
Success of 3S Strategy, Expansion in Overseas Markets
Hyoungji Elite recorded a 52-week high. It appears to be gaining significant upward momentum following the announcement of record-breaking annual performance.
![[Special Stock] Hyeongji Elite Hits 52-Week High... Stock Soars on Record-Breaking Earnings](http://www.asiae.co.kr/news/img_view.htm?img=2024072208164559128_1721603806.jpg)
As of 10:59 AM on the 24th, Hyoungji Elite is trading at 1,512 KRW, up 16.76% (217 KRW) from the previous day. It surpassed the 52-week high of 1,520 KRW recorded in January and reached a peak of 1,640 KRW before undergoing a correction.
Hyoungji Elite, a company with a fiscal year ending in June, announced on the 20th that its consolidated operating profit for the 23rd fiscal year (from July last year to June this year) increased by 182% to 7 billion KRW compared to the previous period. Sales rose 40% to 132.7 billion KRW, marking the highest sales ever. This is attributed to the success of the so-called '3S strategy.' The synergy between the Students uniform business, the Sports merchandising business, and the Safety workwear business was particularly strong. Notably, the record-breaking enthusiasm of professional baseball's ten million spectators also contributed to the performance. Sales from the Sports merchandising business jumped 113% from 9.9 billion KRW in the previous period to 21.1 billion KRW, playing a key role in achieving the highest performance ever.
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Hyoungji Elite is also expanding its presence in overseas markets such as China, Vietnam, and Southeast Asia. Sales of its Chinese joint venture, Shanghai Elite, grew 15% from 15.9 billion KRW last year to 18.3 billion KRW. Next year, it expects sales to grow by more than 25% and operating profit to increase by 120% compared to this year. In the current year, it has already achieved 100% of its annual delivery target. This is seen as a result of a successful strategy targeting the premium school uniform market.
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