[Special Stock] Osstem Implant Surges 9% Intraday on Strong Q2 Earnings

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] Ostem Implant is showing an intraday rise of over 9% following news that it recorded its highest quarterly performance.

At 1:05 PM on the 25th, Ostem Implant was trading at 106,300 KRW, up 9.4% from the previous trading day. The company's stock price surged to as high as 106,900 KRW during the session.

The reason behind the stock price increase is strong earnings. In the second quarter, the company reported an operating profit of 56.2 billion KRW, a 64% increase compared to the same period last year. This marks the highest quarterly performance in the company's history.

This record performance is analyzed to have been driven by overseas sales. Ostem Implant's overseas sales in the second quarter amounted to 192.4 billion KRW, a 42.3% increase compared to the same period last year. In China, which accounts for the largest share, despite the resurgence of COVID-19 and lockdown policies, local dental clinics secured stable inventory in advance, resulting in sales of 72.6 billion KRW, a 28.2% growth. The United States also showed growth with sales increasing 47.9% to 41.2 billion KRW, and Russia recorded a 66.4% increase to 24.2 billion KRW, demonstrating a growth trend.

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