On the 11th, Huvis (CEO Shin Yoo-dong, Ticker: 079980), a leading specialty chemical fiber sector company, disclosed its 2Q 2023 financial results. The company reported a consolidated revenue of KRW 229 billion, an operating loss of KRW 12 billion, and a net loss of KRW 12.2 billion. For the year's first half, the figures stood at cumulative sales of KRW 457.1 billion, an operating loss of KRW 34.1 billion, and a net loss mirroring the operating figure of KRW 34.1 billion  (based on consolidated financial statements).

Compared to the same quarter in 2022, there's a notable 15% decline in sales. Nevertheless, operating profit and net profit showed improvement by 18.4% and 8.2%, respectively. In a sequential comparison to 1Q 2023, sales saw a modest growth of 0.4%, while the operating profit and net profit experienced robust enhancements of 46.0% and 44.1%. After grappling with supply chain disruptions and inflationary pressures in 2022, which curtailed global demand, this year marks a V-shaped revival, notably propelled by rejuvenated demand from the U.S. and a buoyant global automotive market.

A Huvis spokesperson remarked, "Our consistent efforts in revising the pricing of our core products and streamlining operations for effective cost management have borne fruit. We ramp up sales in innovative materials, including automotive, cooling, and super fibers. Moreover, we remain unwavering in our commitment to enhancing performance, focusing on commercializing our chemical recycled LMF (Low Melting Fiber) in the latter half of the year."