Yeongone Holdings Posts 19% Rise in Q1 Operating Profit... Vice Chairman Sung Rae-eun: "Leading Efforts to Enhance Shareholder Value"

545,420 Treasury Shares to Be Retired on May 20

Yeongone Holdings, the holding company of Yeongone Trading, announced on May 18 that its operating profit for the first quarter of this year increased by 19.1% year-on-year, reaching 157.8 billion won.

During the same period, revenue rose by 7.3% to 1.0786 trillion won, while net profit grew by 78.6% to 194.2 billion won.

A Yeongone Holdings representative stated, "The strong performance of the OEM division at subsidiary Yeongone Trading, along with a stable profit base, drove the company's earnings growth." In fact, Yeongone Trading recorded a consolidated operating profit of 120.4 billion won for the first quarter of this year, up 46.3% from a year earlier, and revenue increased by 10.4% to 895.8 billion won.

Yeongwon Trading Headquarters Building. Yeongwon Trading

Meanwhile, Yeongone Holdings plans to retire 545,420 treasury shares, which account for about 4% of total issued shares, on May 20. This action is part of the shareholder return policy announced last year. In addition to retiring 136,355 treasury shares in May of last year, Yeongone Holdings will have retired a total of 681,775 shares, equivalent to 5% of total issued shares, as a result of this decision.

A company official emphasized, "This treasury share retirement accelerates the fulfillment of our mid- to long-term shareholder return objectives for the next five years, demonstrating a responsible commitment to enhancing real shareholder value." The official also stressed, "Vice Chairman Sung Rae-eun stated at this year's general meeting of shareholders that the company will continue to take the lead in enhancing shareholder value by strengthening responsible management, establishing a robust compliance system, and securing new growth engines through investment."

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