[Click eStock] "BioPlus, High Growth Continues in Second Half"

[Asia Economy Reporter Hwang Yoon-joo] Shinhan Financial Investment stated on the 17th that BioPlus is expected to continue its high growth in the second half of the year. Accordingly, it maintained a 'Buy' investment rating and a target price of 36,000 KRW.

Researcher Won Jae-hee of Shinhan Financial Investment estimated, "Sales in the second half are expected to increase by 68.6% year-on-year to 25.8 billion KRW, and operating profit is projected to rise by 95.8% to 16.1 billion KRW."

Researcher Won analyzed, "The flagship product 'SkinPlus-Hyal' is expected to continue significant sales growth in the second half based on its technological capabilities," adding, "It is judged that the product is currently proving its marketability domestically and internationally while maintaining a high-price strategy."

BioPlus continued its strong domestic and international sales growth in the second quarter, following the first quarter, based on the high-price strategy of 'SkinPlus-Hyal.' Sales of adhesion prevention agents reached 1.2 billion KRW, growing 48% compared to the same period last year. Researcher Won evaluated, "Although its share in the current product mix is not large, high sales growth is expected from the second half as market penetration expands significantly."

Exports are expected to increase significantly from early 2023 due to the special import permit from Hainan. Researcher Won explained, "It is understood that Hainan Province in China is currently implementing a lockdown due to the spread of COVID-19," adding, "Considering the previous Shanghai case, the possibility of a prolonged city lockdown cannot be ruled out."

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