April 27, 2024
Stocks & Bonds
[EQUITIES] ‘JYP Entertainment remains on upswing’
[THE INVESTOR] JYP Entertainment will maintain its profit momentum, said HI Investment and Securities on Aug. 20, but did not suggest any recommendation or target price.
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Its second-quarter earnings were a record high, with 31.6 billion won revenue and 9.1 billion won operating profit, up 10.9 percent and 31.9 percent on-year respectively, boosted by the return of Twice and concerts of GOT7. Conventionally artists sign a seven-year contract when they debut. With GOT7 in its fifth year and Twice in its thrird, they could propel the growth of the whole company as time goes by, said analyst Lee Sang-heon.
Stray Kids, a new group introduced by JYP for the first time in four years, is in its first year but already has a fan base of its own. While in China BOY STORY will be unveiled next month, the company’s potential in the country could be highlighted as well, said Lee.
By Hwang You-mee (glamazon@heraldcorp.com)
