[Featured Stock] JNTC Shows Strength Compared to Opening Price... Benefiting from Foldable Trend

[Asia Economy Reporter Yoo Hyun-seok] Newly listed company JNTC is showing strength compared to its opening price. Securities firms analyzed that it is expected to record high growth this year based on keyless cover glass and other products.

As of 9:29 AM on the 4th, JNTC recorded 17,500 KRW, up 5.39% (550 KRW) from the opening price of 10,200 KRW. However, it is down compared to the public offering price (11,000 KRW).

JNTC confirmed its public offering price at 11,000 KRW following a demand forecast conducted for domestic and foreign institutional investors on the 19th and 20th of last month. This price exceeded the upper limit of the desired public offering price band (8,500 to 10,500 KRW). A total of 1,282 institutional investors participated in the demand forecast, recording a competition rate of 1,077.88 to 1.

JNTC confirmed its public offering price at 11,000 KRW following a demand forecast conducted for domestic and foreign institutional investors on the 19th and 20th of last month. This price exceeded the upper limit of the desired public offering price band (8,500 to 10,500 KRW). A total of 1,282 institutional investors participated in the demand forecast, recording a competition rate of 1,077.88 to 1.

Founded in 1996, JNTC develops and manufactures components such as 3D cover glass and connectors applied to smartphones. In 2014, it developed the world’s first 3D cover glass applied to smartphone displays and exclusively supplied the 'Edge Glass' for Samsung Electronics’ Galaxy Note 4. In 2018, it again developed the world’s first keyless cover glass for smartphones. It is also supplying keyless cover glass commercialized through proprietary technology. With the global expansion of 5G services before commercialization, demand is increasing, and its contribution to sales is expected to grow further. Additionally, this year, it has secured advanced thin-film glass technology and is preparing to enter the foldable cover glass market.

Kim Young-jun, a researcher at KTB Investment & Securities, said, "We expect continued performance improvement this year through increased sales of keyless cover glass to China and new deliveries of cover glass for vehicles. Sales this year are projected to reach around 520 billion KRW, an increase of about 30% compared to the previous year, with operating profit expected to be around 90 billion KRW."

He emphasized, "The company has moved away from the customer risk of having Samsung Display as its sole client in 2016, diversifying its customers to LG Display, BOE, and other Chinese companies, which is expected to increase business stability."

This content was produced with the assistance of AI translation services.