Bowon Chemical Reports First-Half Sales of 28.7 Billion Won, Up 11.1% Year-on-Year

For the first half of this year, Bowon Chemical recorded sales of 28.7 billion won, up 11.1% from the same period last year.

According to Bowon Chemical on August 19, sales of automotive surface materials remained at the previous year's level. Surface materials for construction materials saw growth, driven by increased sales of SPC flooring. The company plans to expand mass production and sales of SPC flooring in the second half of the year by utilizing facilities whose expansion was completed during the first half. It has also finalized the supply of art walls to the Banpo Jugong Reconstruction Complex managed by H Construction Company.

Operating profit stood at 2 billion won, a decrease of 600 million won from the same period a year earlier. This was due to increases in research and development costs, labor costs, after-sales maintenance expenses, and depreciation costs for new equipment. The net loss in the first half amounted to 400 million won, reflecting a loss of approximately 2.1 billion won related to derivatives that occurred during the KOSDAQ listing process in April. The company considers these costs to be one-off factors and expects to return to profitability in the third quarter.

In the second half, new business investments will be scaled up. The company will invest 4.7 billion won in its fifth plant to build T-die equipment for functional sheets. Additional equipment for the production of solar EVA films and OLED encapsulation films is also scheduled to be installed by September.

Bowon Chemical will also invest 2.1 billion won in its electronic device surface material business. This includes the expansion of its third plant and the construction of precision surface coating facilities, with the company pushing forward with orders and mass production of products that have been under development for about 10 months. Full-scale mass production is planned to start in November.

The company is also in the process of securing additional land to expand its production base. In line with district unit plans and industrial complex development plans, Bowon Chemical has decided to acquire additional land around its existing first, second, and fifth plants, increasing its site from 53,000 square meters to approximately 75,000 square meters, and is moving forward with the project.

The company is also working to improve profitability by expanding its high-performance materials business. While high-performance materials accounted for 7% of sales last year, the company aims to increase this ratio to 25% in the future by expanding direct development and production.

A Bowon Chemical representative stated, “While sales of automotive surface materials have remained stable, sales of surface materials for construction materials—especially SPC flooring—have grown. We aim to enhance profitability in the second half and maintain our profit-driven momentum by increasing new sales and strengthening product competitiveness.”

This content was produced with the assistance of AI translation services.