[Featured Stock] Samsung Biologics Soars 7% on Strong Q4 Performance... Rises to 3rd in Market Cap

[Asia Economy Reporter Song Hwajeong] Samsung Biologics recorded an earnings surprise in the fourth quarter of last year, causing its stock price to surge. After hitting a 52-week high during the trading session, it jumped to third place in market capitalization.

As of 10:46 AM on the 23rd, Samsung Biologics was up 7.74% (KRW 35,000) at KRW 487,000.

During the session, it rose to KRW 493,000, setting a new 52-week high again in just one day. Its market capitalization also exceeded KRW 32 trillion, surpassing NAVER to climb to third place.

The strong performance in the fourth quarter of last year is driving the stock price rally. Samsung Biologics announced that its operating profit for last year reached KRW 106.9 billion, an 830% increase compared to the previous year. During the same period, sales increased by 75.8% to KRW 313.3 billion. Hong Gahye, a researcher at Daishin Securities, explained, "Sales increased due to a focus on producing high-priced products and improved factory utilization rates, especially the rise in utilization at Plant 2 drove the sales growth. Production results reflected utilization rates of 50% at Plant 1, 70% at Plant 2, and mid-teens percentage at Plant 3." She added, "Operating profit improved significantly due to increased sales and changes in the product mix."

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