Kiwoom "Cosmax, expected to launch in China, the consumption tax cut Tint"

It was [Korea goyounghun financial newspaper reporter] Kiwoom 15 days of buying color cosmetics brand is expected to launch in China in accordance with the excise duty reduction for investment Cosmax doendamyeo opinion BUY Target price remains at 18 million.

4Q11 Earnings connection Cosmax sales rose 47.1% YoY to 199.7 billion won, operating profit rose 88.1% to 9.5 billion won the same period rose year.

Kiwoom yihuijae researchers and diagnosis "was recorded performance to dispel market concerns over the sluggish consumption in manufactured goods hit game," he said "lower depending on the duty free channel dependent small businesses from the risks of the Sad Chinese customers."

The researchers "had in January announced the injury hue dedicated plant completed production scale dwaeteumyeo 400 million expansion 5000 pieces from the existing 200 million was in Guangzhou also increased from 40 million pieces 1 billion," said "Because of this China's total production capacity is 500 million has secured 50 million, "he said.

He expected that after "such as cosmetic manufacturers are expected to have one global brand items purchased in order to diversify and expand the deficit will be reduced in accordance with US corporate scale-up."



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