Sunjin Beauty Science Achieves Record High Sales of 48.5 Billion KRW Last Year... Also Conducts 100% Rights Offering

[Asia Economy Reporter Park Jihwan] Sunjin Beauty Science, a company specializing in cosmetic raw material manufacturing, announced on the 16th that it achieved its highest sales record since its establishment, with approximately 48.5 billion KRW in sales last year.

According to Sunjin Beauty Science's consolidated financial statements, last year's sales amounted to 48.536 billion KRW, a 5% increase compared to the previous year. Operating profit increased by 9% to 3.873 billion KRW, while net profit decreased by 37% to 1.893 billion KRW.

Through a board resolution, a stock dividend will be issued at a ratio of one new share per one existing share. This is the first stock dividend since the company’s listing in January last year and will be applied to 6,087,630 common shares excluding treasury stock. The record date for new share allocation is March 11, and the listing date for the new shares is March 30.

Sales in the cosmetic raw materials sector grew by approximately 15% compared to the previous year, driving overall performance growth. The net profit figure reflects a one-time expense of 3.08 billion KRW due to impairment losses on idle facilities at the Ansan plant, suggesting potential improvement from the next quarter onward.

Lee Seong-ho, CEO of Sunjin Beauty Science, stated, "Indicators such as sales and operating profit are recovering to pre-COVID-19 levels and are on an upward trend. We expect this trend to gain further momentum as daily life fully recovers." He added, "Starting in April, we plan to operate an OEM (Original Equipment Manufacturing) production line that meets OTC (Over-The-Counter) standards. We will become a company capable of producing everything from FDA-certified cosmetic raw materials to OEM products and finished products."

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