HLB Genex Chairman Jin Yang-gon and CEO Kim Do-yeon purchased company shares on days 20-21 and day 13 respectively, following a stock price decline triggered by the parent company HLB's liver cancer drug approval delay in the United States. Jin acquired 50,428 shares over two days while Kim purchased 32,567 shares in a single transaction, according to disclosures filed with Korea's Financial Supervisory Service on day 22. Industry observers interpret the purchases as management's confidence in the enzyme manufacturer's core business fundamentals and long-term growth prospects despite short-term market volatility related to the parent company's regulatory setback.
Jin Yang-gon Purchases 50,428 Shares Over Two Days
Jin Yang-gon purchased 50,428 HLB Genex shares on the open market over days 20-21, according to electronic disclosure filings. This marks Jin's 17th share purchase transaction this year, bringing his total acquisitions to 337,183 shares. CEO Kim Do-yeon separately purchased 32,567 shares on day 13, his fourth purchase transaction this year totaling 79,538 shares. Kim's total shareholding increased to 92,248 shares following these transactions.
HLB Genex Expands Enzyme Business in Semiconductor Sector
HLB Genex supplies catalase enzyme to three global semiconductor foundries for decomposing hydrogen peroxide used in manufacturing processes. The enzyme operates effectively in high-temperature and strong acid-alkaline environments with low sensitivity to heavy metals in semiconductor wastewater. The company also produces lactase enzyme for lactose decomposition and galacto-oligosaccharide (GOS) manufacturing, supplying global dairy companies with products developed using proprietary enzyme modification technology. Galacto-oligosaccharides are used in prebiotics, premium infant formula, dairy products, and functional food ingredients.
Subsidiary HLB Neurotob is conducting preclinical trials and process development for NT-3, an antisense oligonucleotide treatment targeting Parkinson's disease symptom improvement and dopamine neuron death inhibition. GF Fermentech produces vitamin K2, phytosphingosine, and nattokinase using precision fermentation technology, with phytosphingosine supplied to global ceramide manufacturers as a precursor for skin barrier maintenance.
Company Reports Revenue Growth and Profitability Turn
HLB Genex recorded consolidated revenue of 43.4 billion won, a 22% year-over-year increase, and operating profit of 1.2 billion won, turning profitable from the previous year. First quarter revenue reached 11.67 billion won, up 9.1% year-over-year, with operating profit of 1.005 billion won, a 23.3% increase from the same period last year.
An HLB Genex representative stated the executive share purchases demonstrate confidence in the core enzyme business and subsidiaries' mid-to-long-term growth potential. The company plans to expand catalase and lactase supply while enhancing corporate value through HLB Neurotob's drug development and GF Fermentech's bio-material business.
FAQ
How many shares did Jin Yang-gon purchase on days 20-21?
Jin Yang-gon purchased 50,428 HLB Genex shares on the open market over days 20-21 according to Financial Supervisory Service disclosures filed on day 22.
What revenue did HLB Genex report in the first quarter?
HLB Genex reported first quarter revenue of 11.67 billion won, representing a 9.1% year-over-year increase, with operating profit of 1.005 billion won, up 23.3% from the same period last year.
