[Featured Stock] Design, New Growth Engine Mask Business Performance Highlights Strength
[Asia Economy Reporter Hyungsoo Park] The stock price of Design, famous for its Kokkiri portable battery, is rising. Expectations for the newly launched mask business seem to be influencing the stock price.
As of 11:14 AM on the 21st, Design is trading at 13,850 KRW, up 4.14% from the previous day.
Design operates an accessory business for smart devices. It sells a variety of products including portable batteries, neckbands, chargers, Bluetooth speakers, handy fans, smart lamps, and air purifiers. It owns the brand `Kokkiri (KOKIRI)`. Based on data infrastructure, it also runs an Internet of Things (IoT) and battery combined object battery (BoT) business. It develops products to realize a rich life in various fields, from portable batteries and small home appliances to shared services and battery platforms.
The mask business started earlier this year. The company added this business purpose through an amendment to the articles of incorporation at the regular shareholders' meeting. It expanded its business from distribution-focused to mask manufacturing. Last month, Design signed a contract worth 22.7 billion KRW with Seohomedico for mask supply. This amount corresponds to 104% of last year's sales. The contract period is until July 15 of next year.
Design completed facility investment at its Hwaseong factory for mask production. It established an integrated production system with a 'one-stop cleanroom' facility covering raw materials, automated mask production equipment, quality inspection, box packaging, and delivery.
Design recorded consolidated sales of 20.6 billion KRW in the first half of this year, more than a 150% increase compared to the same period last year. Operating loss was 1.3 billion KRW, reducing the deficit compared to the previous year.
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This month, executives including Executive Director Jo Ilryong and Director Lee Chunsung acquired company shares, and last month Korea Investment Trust Management increased its stake to 5.02%.
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