[E-Daily Reporter Kim Hyung-il ] Huseong Co., Ltd. ( FOOSUNG CO.,LTD(093370)), a company specializing in fluorochemical materials, is trading up by more than 15% in early trading as it shows signs of improving performance, including an operating profit that more than doubled in the first half of this year compared to the same period last year.

According to MP Doctor on the 18th, as of 9:37 a.m., FOOSUNG CO.,LTD is trading at 14,360 won, up 1,960 won (15.81%) from the previous trading day.

In the first half of this year, FOOSUNG CO.,LTD reported consolidated revenue of 329.67 billion won and operating profit of 32.66 billion won. Revenue increased by 42.5% year-over-year, while operating profit rose by 122.8%. Net income and net income attributable to controlling shareholders also turned to profit, reaching 17.72 billion won and 11.45 billion won, respectively.

Looking solely at second-quarter results, revenue was 188.22 billion won, operating profit was 23.4 billion won, and net income was 24.96 billion won. The second-quarter operating profit margin was approximately 12.4%, exceeding the cumulative operating profit margin of 9.9% for the first half of the year.

By business segment, the Basic Chemicals division recorded revenue of 246.58 billion won and operating profit of 14.48 billion won. The Chemical Equipment division recorded revenue of 93.37 billion won and operating profit of 18.23 billion won. Although the Chemical Equipment division accounted for approximately 28% of total revenue, it contributed about 56% of operating profit, driving the improvement in profitability.

The outstanding construction contract balance of its subsidiary, HANTECH LTD., also increased to 165.8 billion won as of the end of the first half, up from 155.12 billion won at the end of last year.

FOOSUNG CO.,LTD identifies rechargeable battery materials and specialty gases for semiconductors as its key growth drivers. The domestic Ulsan plant has a production capacity of 2,000 metric tons of lithium hexafluorophosphate (LiPF6), and a facility with an additional 2,000 metric tons of capacity has completed trial operations. The Nantong plant in China has a production capacity of 3,400 metric tons.

Production capacity for specialty semiconductor gases stands at 180 metric tons of butadiene hexafluoride (C4F6) and 400 metric tons of tungsten hexafluoride (WF6). In June of this year, the company opened the Yongin Advanced Materials Research Institute and has begun research and development on new semiconductor materials.