[Click eStock] "Ray, Record Quarterly Sales... Rising Expectations for China Expansion"

[Asia Economy Reporter Hyunseok Yoo] Eugene Investment & Securities analyzed on the 12th that Ray is highly expected to enter the Chinese market. No investment opinion or target price was presented.

Ray recorded consolidated sales of 25.2 billion KRW and operating profit of 4.5 billion KRW in the third quarter. This is the highest quarterly sales, and profitability also improved. Jongseon Park, a researcher at Eugene Investment & Securities, said, "The positive aspect of the third-quarter performance is that, along with market recovery, the highest sales were achieved in the third quarter following the second quarter, and the operating profit margin also improved significantly. Looking at regions, there was a sharp increase in most countries including domestic, Europe, and Asia."

Eugene Investment & Securities expects Ray to achieve sales of 31.2 billion KRW and operating profit of 6.9 billion KRW in the fourth quarter. This represents increases of 49.0% and 50.0%, respectively, compared to the same period last year.

He explained, "It is expected to achieve the highest sales for three consecutive quarters and attain a high operating profit margin in the 20% range. Through the establishment of a JV with a Chinese company (Care Capital) and the acquisition of a Chinese dental distribution company, Ray is promoting entry into various dental consumables and equipment markets. The 3D oral scanner is scheduled to be launched in the fourth quarter, and performance reflection through full-scale market entry is anticipated."

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