Daishin Securities, Operating Profit of 895.5 Billion KRW... Expected Record High Performance

[Asia Economy Reporter Junho Hwang] Daishin Securities achieved its highest-ever performance last year. This is analyzed as a result reflecting the performance of the 'Nine One Hannam' project along with the improvement in securities business performance and business diversification.

Daishin Securities announced on the 3rd after market close through a disclosure that its consolidated financial statements for the past year showed a tentative sales revenue of 3.6273 trillion KRW. This represents a 26.5% increase compared to the previous year. Operating profit reached 895.52935 billion KRW, expanding by 274.4% year-on-year. Net profit also surged by 328%, recording 629.2 billion KRW.

This surprising performance is analyzed as a result of last year's stock market boom translating into earnings. In the securities business, brokerage fees increased as investment funds poured into the stock market last year. Subsequently, performance significantly increased due to the favorable conditions in areas such as initial public offerings and project finance.

In particular, the successful completion of the Nine One Hannam business, which was carried out over five years since 2016, led to the consolidated reflection of the performance of its subsidiary F&I from the second quarter. With the completion of the pre-sale conversion of the residential land project in Hannam-dong, a total of 490.1 billion KRW was recognized as gains on disposal of non-current assets scheduled for sale. Daishin Securities stated, "The expansion of performance in the securities sector and business diversification drove this performance growth."

Meanwhile, Daishin Securities' standalone sales revenue was tentatively estimated at 2.4321 trillion KRW, with operating profit at 290.6 billion KRW.

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