[Featured Stock] Seegene Surges Over 7% on Earnings Improvement Expectations
[Asia Economy Reporter Song Hwajeong] Seegene is showing a strong surge due to expectations of improved earnings.
As of 10:04 AM on the 24th, Seegene was trading at 105,100 KRW, up 7,100 KRW (7.24%) from the previous day. This marks a rebound after four days.
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With favorable first-quarter earnings expected, it is anticipated that strong performance will continue due to the recent resurgence of COVID-19. Minjung Seon, a researcher at Hana Financial Investment, stated, "Seegene's consolidated first-quarter sales are estimated to have increased by 331% year-on-year to 352.2 billion KRW, and operating profit is expected to have risen by 374% to 188.4 billion KRW. Due to slower-than-expected vaccination rates and the emergence of variant viruses, the export growth of diagnostic kits is expected to continue into the second quarter."
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