[Click eStock] "Genoray Decides on Free Capital Increase... Stock Price Expected to Rise"

[Asia Economy Reporter Minji Lee] Hana Financial Investment maintained a buy rating on Genoray on the 6th, expecting a rise in stock price due to the decision of a bonus issue, and raised the target price by 10% from the previous one to 42,700 KRW.

On the previous day, Genoray announced through a disclosure that it would proceed with a bonus issue allocating 2 new shares per existing share. After the capital increase, the total number of issued shares will be 14,553,844, and the new shares are scheduled to be listed on the 17th of next month. Juwon An, a researcher at Hana Financial Investment, said, "The increase in the number of issued shares through this bonus issue is positive for trading volume."

Since Genoray posted solid results in the fourth quarter of last year, further stock price increases are also expected. Sales and operating profit in the fourth quarter of last year increased by 35% and 44%, respectively, compared to the same period last year. Both the medical and dental sectors appear to have grown based on the seasonal peak effect. Researcher An said, "Operating profit exceeded 5 billion KRW for the first time on a quarterly basis," and explained, "Steady new product launches and expansion of the medical market are expected to drive mid- to long-term growth."

Genoray's expected sales for this year are 75 billion KRW, and operating profit is 156.7 billion KRW. These are projected to increase by 15.2% and 13.8%, respectively, compared to last year. Researcher An said, "This year, we expect steady growth in both the medical and dental markets," adding, "As product diversification and expansion of sales regions continue, growth will focus on overseas markets."

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