[Featured Stock] SD Biosensor Rises on 110 Billion KRW Supply Contract Increase
[Asia Economy Reporter Hwang Yoon-joo] SD Biosensor is showing strong performance from the early trading session following news of a 110 billion KRW supply contract for COVID-19 self-test kits with Taiwan.
As of 9:30 AM on the 11th, SD Biosensor is trading at 47,800 KRW, up 3.46% (1,600 KRW) compared to the previous trading day.
On the 9th, SD Biosensor announced a supply contract worth 103.3 billion KRW for COVID-19 self-test kits to the Taiwan government,
and additionally disclosed another supply contract worth 110 billion KRW the following day.
The supply period for the contract announced the previous day is from May 10, 2022, to June 30, 2022. The contract size accounts for 3.76% of recent sales revenue.
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According to the Taiwan Ministry of Health and Welfare’s Centers for Disease Control (CDC), Taiwan maintained daily confirmed cases in the double digits until last year. However, due to the recent spread of the Omicron variant, daily new confirmed cases have exceeded 40,000. Along with this, recent forecasts from the United States predicting another wave of variant virus infections this winter have contributed to expanded investor sentiment.
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