[Edaily Reporter Kim Hyung-il ] Chemical materials company #BOWON CHEMICAL CO.,LTD. announced on the 13th that its cumulative revenue for the first three quarters of this year increased by 10.5% year-over-year, driven by stable supply in its automotive interior materials business and expanded sales of building materials.

BOWON CHEMICAL CO.,LTD.’s cumulative revenue for the first three quarters of this year totaled 43.28598 billion won, a 10.5% increase compared to the same period last year. Third-quarter revenue alone also rose 9.3% to 14.60551 billion won. While maintaining a stable supply base for its flagship automotive interior surface materials business, sales of construction materials supported overall revenue growth.

Profitability showed mixed results. Cumulative operating profit for the first three quarters was 3.06511 billion won, a 21.6% decrease compared to the same period last year. On the other hand, net income was 136.69 million won, marking a return to profitability from a net loss of 612.05 million won in the same period last year.

BOWON CHEMICAL CO.,LTD. explained that one-time costs incurred during the merger with a special purpose acquisition company (SPAC), as well as research and development expenses and costs related to new facilities, impacted operating profit. The company emphasizes the significance of achieving a turnaround to a cumulative net profit while maintaining revenue growth.

Building on its existing automotive interior materials business, BOWON CHEMICAL CO.,LTD. is also moving to expand into new business areas. The company plans to cultivate SPC flooring, surface materials for electronic devices, and encapsulation films for organic light-emitting diodes (OLEDs) as new growth sectors. It intends to secure product competitiveness by improving the production efficiency of new facilities and strengthening in-house technology development.

The company is also working to refine its business structure with a focus on high-performance materials. The goal is to increase the share of high-performance materials—which accounted for 7% of total revenue last year—to 30% over the medium to long term. The strategy is to secure both profitability and growth by adding technology-intensive, high-value-added products to the stable revenue base of its existing business.

A BOWON CHEMICAL CO.,LTD. official stated, “Building on the stable competitiveness of our existing automotive interior materials business, we are expanding into new businesses such as SPC flooring and high-performance materials for electronic devices.” The official added, “We will strengthen our foundation for revenue growth by stabilizing mass production at our new facilities and expanding our customer base, while also improving profitability through production process efficiency and cost reduction.”