[Edaily Reporter Shin Ha-yeon ] JEONGMOON INFORMATION CO.,LTD.(033050)announced on the 9th that its cumulative consolidated operating profit for the first three quarters of this year reached 5.8 billion won, a 107.4% increase compared to the same period last year. During the same period, revenue rose 57.4% to 99.3 billion won, while net income increased 158.8% to 4.5 billion won.

Looking solely at third-quarter (July–September) results, revenue reached 37.5 billion won, a 71.8% increase compared to the same period last year. Operating profit rose 117.2% to 3.0 billion won.

The company explained that its automotive interior parts business in the Americas drove the improvement in performance. Cumulative revenue for this business segment in the third quarter reached 44.9 billion won, a 214.7% increase compared to the same period last year. Operating profit also rose 131.3% to 2.2 billion won.

The company explained that the results of its business restructuring are becoming evident as the effects of last year’s intensive investments, the stabilization of the domestic household goods division, and the expansion of the automotive interior parts business in the Americas have all converged. JEONGMOON INFORMATION CO.,LTD. forecasts that this year’s annual revenue will exceed the initially set target of 117.5 billion won.

Building on this improved performance, JEONGMOON INFORMATION CO.,LTD. is also working to restructure its financial position to enhance shareholder returns. On September 2, JEONGMOON INFORMATION CO.,LTD. held an extraordinary general meeting of shareholders and resolved to cover accumulated losses by reducing statutory reserves and capital surplus. The company explained that this move lays the groundwork for securing distributable profits when future earnings are generated.

In addition, to resolve the issue of so-called “penny stocks”—shares trading below 1,000 won—the company decided on a 5-for-1 reverse stock split, raising the par value from 1,000 won to 5,000 won. The new shares resulting from the reverse stock split are scheduled to be listed on the 10th.

Previously, in May, JEONGMOON INFORMATION CO.,LTD. retired 740,014 treasury shares, representing 2.27% of its total issued shares. The book value of the retired treasury shares was approximately 2 billion won. The CEO and other related parties have also been purchasing the company’s shares on the open market.

JEONGMOON INFORMATION CO.,LTD. official stated, “We are seeing remarkable growth in company-wide profitability through the expansion of our domestic household goods business and our automotive interior parts business, centered on our U.S. subsidiary,” adding, “Based on the current improvement in our solid fundamentals, we will enhance our financial structure and implement shareholder return policies to boost both corporate value and shareholder value.”