[Click eStock] "Cheongdam Global, Both Core Business and New Ventures Are Strong"

[Asia Economy Reporter Kwon Jae-hee] Cape Investment & Securities on the 7th newly issued a 'Buy' rating and a target price of 13,000 KRW for Cheongdam Global.

Established in December 2017, Cheongdam Global is a lifestyle-specialized distribution company distributing fillers and Botox, infant products, health functional foods, and more.

Cape Investment & Securities estimated that Cheongdam Global's distribution sales this year will reach 250.6 billion KRW, an approximately 85% growth compared to the previous year. The core lifestyle distribution business is expected to continue rapid performance growth through expansion of client companies (Amazon, eBay, Coupang, etc.), category expansion, and vendor expansion. Additionally, significant performance improvements are expected quarterly due to scheduled events such as JD.com's anniversary on June 18 and the November Singles' Day event, one of the main clients.

Furthermore, BioBijou, which operates the new HA filler and Botox business, is expected to achieve rapid production and sales volume expansion this year through the establishment of its own production facilities. As of April this year, cumulative sales reached approximately 9 billion KRW, already surpassing the 8.7 billion KRW annual sales of 2021, so BioBijou's 2022 sales are estimated to achieve 31.7 billion KRW, a growth of about 263% compared to the previous year.

Researcher Heo Seon-jae of Cape Investment & Securities analyzed, "From the second quarter of this year, Cheongdam Global will see meaningful valuation rerating accompanying each visible phase of structural improvement through overseas expansion and platform activation of its own cosmetic platform Baishuco, and diversification of sales by country, client, and product."

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