[Edaily Reporter Hyera Lee ] DaewonChemical is up more than 12% in early trading as buying interest surges on news of an asset revaluation.
According to MP Doctor on the 22nd, DaewonChemical(024890)was trading at 3,580 won as of 9:03 a.m. today, up 12.23% from the previous trading day.
DaewonChemical announced today that a revaluation gain of 54.7 billion won resulted from the recent revaluation of land at its Osan plant.
The company disclosed the results of its asset revaluation on the 18th, covering 18 parcels of land (totaling 46,203 square meters), including the land at its Osan Plant located in Oesammi-dong, Osan City, Gyeonggi Province. As a result of the revaluation, the book value of the land increased from 36.2 billion won to 91.0 billion won, resulting in a revaluation gain of 54.7 billion won.
DaewonChemical stated that the portion of the revaluation gain resulting from this reassessment, after accounting for corporate income tax effects and other factors, will be recognized as a revaluation surplus in shareholders’ equity. Consequently, the company expects this to stabilize its financial structure by strengthening capital and improving its debt-to-equity ratio, and anticipates that it will also expand its capacity to utilize its held assets.
DaewonChemical is a company specializing in eco-friendly synthetic leather and automotive interior materials.