[This article was reported on "Radar M," a paid media outlet specializing in the capital market in Mail Business, on July 7 (10:34)]
JinCostec, a hydrogel-based cosmetics ODM and OEM company, announced on the 7th that it submitted a preliminary review application for listing on the KOSDAQ to the Korea Exchange the previous day.
JinCostec is a KONEX listed corporation and will pursue a relocation listing on the KOSDAQ through this application. Hana Securities Co., Ltd. is the chief organizer of the company.
Since its establishment in 2010, Zincostec has been supplying products to domestic and foreign cosmetics customers, focusing on functional patches and basic cosmetics, including hydrogel mask packs, hydrogel eye patches, and spot patches.
The company develops and produces hydrogel-based products according to the customer's brand concept and product planning direction. The core competitiveness lies in hydrogel formulation technology and mass production capacity.
The company has strengthened its product competitiveness based on technologies such as hydrogel formulation design, formulation stabilization, active ingredient delivery control, improved skin adhesion and usability, and hybrid hydrogel implementation.
In addition, it has secured intellectual property rights related to hydrogel formula, patch and mask structure design, etc. It has been increasing quality competitiveness and production stability by establishing a manufacturing and quality management system based on CGMP and ISO certification.
The product line is also being advanced around hydrogel materials. As of last year, Jin Costec's total sales amounted to 48.6 billion won. Among them, hydrogel material products account for 86.3%.
In detail, full-face hydrogel mask packs account for 44.0% and partial patches hydrogel products account for 42.3%. We have established a portfolio of hydrogels specializing in the categories of mask packs and patches.
It recorded a deficit from 2021 to 2024, but succeeded in turning into a surplus last year by showing a net profit of about 6 billion won. Sales increased from 29.8 billion won in 2024 to 48.6 billion won last year. Last year's operating profit was 4.8 billion won.
The company believes that increased sales of hydrogel mask packs and patches, improved production efficiency, and lower cost rates have affected profitability improvements.
JinCostec plans to use the funds raised by the relocation listing to expand production infrastructure centered on hydrogel products, build new three factories, expand production facilities and auxiliary facilities, and research and development of next-generation functional hydrogel formulations.
It also plans to diversify its product line to adjacent product lines such as basic cosmetics, sunscreens, cleansing products, and hair loss-relieving functional shampoos. It plans to strengthen its brand D2C business and develop overseas markets at the same time.
"We will further strengthen our competitiveness of hydrogel ODM and OEM by focusing on expanding production capacity, strengthening R&D, and expanding overseas markets with financial resources raised through listing," said Kim Im-joon, CEO of Jinkostec.
