[Edaily Reporter Park Jung-Soo ] Wooshin Cosmetics, a manufacturing partner of TS Trillion Co., Ltd.(317240), has increased its stake through on-market purchases and has become a major shareholder with a stake of over 5%.
TS Trillion Co., Ltd. announced on the 2nd that Wooshin Cosmetics and its related parties hold 1,460,498 shares of the company, securing a 5.01% stake. This increase in ownership was primarily achieved through on-market purchases by Wooshin Cosmetics. The 57,800 shares held by Chairman Ahn Tae-man, a related party, and the 16,700 shares held by CEO Ahn Jin-soo were also included in the total.
Wooshin Cosmetics is a cosmetics manufacturing partner of TS Trillion Co., Ltd. and participated in a third-party private placement worth 1 billion won last year. The company explained that the cooperative relationship between the two firms has been further strengthened by the acquisition of additional shares through this on-market purchase.
Wooshin Cosmetics is a company specializing in cosmetics original equipment manufacturing (OEM) and original design manufacturing (ODM). Last year, it recorded sales of 49.1 billion won, an operating profit of 2.9 billion won, and a net income of 2.92 billion won. It holds certification for the Korean Cosmetic Good Manufacturing Practice (CGMP) and ISO 22716, the international standard for cosmetic manufacturing and quality management.
TS Trillion Co., Ltd. also saw improved performance in the first half of this year. On a standalone basis, revenue reached 15.14156 billion won, an 18% increase compared to the same period last year, while operating profit rose 1,511% to 1.183 billion won. Net income stood at 636 million won, marking a return to profitability.
The company explained that the improvement in profitability was driven by the reduction of low-margin sales channels and the reorganization of its distribution structure to focus on offline partners such as Olive Young and Daiso, as well as its Smart Store platform.
TS Trillion Co., Ltd. plans to use this increase in its stake in Wooshin Cosmetics as an opportunity to strengthen cooperation in the manufacturing and production sectors while focusing on improving performance and stabilizing management.
TS Trillion Co., Ltd. official stated, “Wooshin Cosmetics is an industry partner that has closely observed our product competitiveness and the process of refining our distribution channels,” adding, “We will use this stake acquisition as an opportunity to strengthen our strategic partnership and expand our business in the domestic and international hair care markets.”