DB HiTek Reports Q3 Operating Profit of 220.4 Billion KRW, Up 85%
Operating Profit Margin 49%
Expansion of High-Value Products in Automotive, Industrial, and Medical Sectors
[Asia Economy Reporter Park Sun-mi] DB HiTek's operating profit in the third quarter of this year increased by 85% compared to the same period last year, driven by strong demand for power semiconductors and efforts to expand the proportion of high value-added products in automotive, industrial, and medical sectors.
On the 14th, DB HiTek announced through a public disclosure that third-quarter sales reached 447.4 billion KRW, and operating profit was 220.4 billion KRW, representing increases of 36% and 85% respectively compared to the same period last year, with an operating profit margin of 49%. The cumulative sales for the first three quarters amounted to 1.2781 trillion KRW, and operating profit reached 615.1 billion KRW.
DB HiTek explained that the steady demand for power semiconductors and the relatively lower impact from the economic downturn, along with the expansion of the proportion of high value-added sectors such as automotive, industrial, and medical fields, were key factors.
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A DB HiTek representative stated, “While the electronics and IT industries are experiencing a recession due to economic downturn and inflation, the foundry industry is also entering the affected zone. Considering this, we will operate a stable product mix with high added value and focus our technological capabilities on developing strategic products in high-growth areas such as electric vehicles, 5G, and OLED to secure new growth engines.”
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