[Featured Stock] U-Tech Soars on Expectations of Stable Management and Improved Performance

[Asia Economy Reporter Hyungsoo Park] U-Tech's stock price continues to rise amid expectations that its performance will improve along with stable management control.

As of 11:35 AM on the 25th, U-Tech is trading at 2,530 KRW, up 6.08% from the previous day. The stock price, which had been trading around 1,500 KRW until the 15th, has surpassed the 2,000 KRW mark.

On the 22nd, U-Tech held a board meeting and appointed Lee Jeong-tae as the new CEO. CEO Lee previously served as the head of Daedeok Junghan Trading Company.

Expectations are growing that the new CEO Lee, who has a local network in China, will achieve results in U-Tech's Chinese business. U-Tech has set a goal to strengthen the competitiveness of its existing core businesses while maximizing capabilities in new healthcare distribution sectors such as masks and sanitizers under the leadership of the new CEO.

Earlier this year, U-Tech signed a large-scale hygiene product supply contract with Shanghai Huanyuan Cosmetics Co., Ltd. in China. In the first quarter, consolidated sales reached 14.4 billion KRW, a 60.7% increase compared to the same period last year. Operating profit and net income turned positive, recording 167 million KRW and 300 million KRW, respectively.

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