Report
EUR 17.42 For Business Accounts Only

Green Cross (006280.KS): 3Q17 review: growth driven by core business

  • 3Q17 review: sales grew 8.7% YoY and 7.8% QoQ to KRW356.1bn,  in-line.
  • Operating profit surpassed expectations on booming exports.
  • Maintain BUY as IVIG-SN’s entry into the US market.

 

Underlying
Green Cross Corp.

Green Cross is engaged in the biopharmaceutical industry using the life science technologies. Co. is also engaged in the manufacture of pharmaceutical including prescription drugs. Co. provides blood derivatives, vaccines, diagnostic reagents, prescription drugs and over-the-counter drugs.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Yang Ku Kang

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