Hyundai Motor target price lowered by ten-thousand won70; impact of partner company fire and high exchange rates
Kiwoom Securities8lowered Hyundai Motor’s target price on70to ten-thousand won. The reason was that2quarter earnings were expected to fall short of market expectations due to a fire at a partner company and the burden of high exchange rates. During the same period, the Ministry of SMEs and Startups announced the recruitment of applicants for export vouchers,3round(470hundred million won and1,200companies).
Kiwoom Securities8lowered Hyundai Motor’s target price on70to ten-thousand won. It judged that2quarter earnings would fall short of market expectations due to a fire at a partner company and the burden of high exchange rates.
The statement said that the fire at a partner company caused some production disruptions and that high exchange rates placed a burden on profitability. Accordingly, it presented the view that increasing earnings would be difficult in the second half of the year.
The Ministry of SMEs and Startups7announced the recruitment of applicants for export vouchers on3round. The budget was470hundred million won, and it said it would support1,200small and medium-sized enterprises.
The Ministry of SMEs and Startups explained that it would provide support to small and medium-sized enterprises whose management burden has increased due to the prolonged high exchange rate. It advised applicants to check the application schedule and detailed requirements through an announcement from the Ministry of SMEs and Startups.
Sconnect announced that it had 7 day completed registration as a Samsung SDI Malaysia affiliate 1tier supplier. The completion of the registration was included in the company's disclosure.
Yeongam County announced that a partner company of HD Hyundai Samho had carried out the first shipment of Yeongam melons. It described this as the first case of a regional win-win cooperation model.
The related announcements and notices focused on 7~8 days. It was confirmed that corporate supply-chain issues and the government's export-support announcement were issued at the same time.