[Click eStock] "IL Science Expected to Benefit from LED Lens Generation Replacement"

[Asia Economy Reporter Hyunseok Yoo] Kiwoom Securities analyzed on the 18th that IL Science is expected to benefit from the generation change of lenses for LEDs. No investment opinion or target price was provided.

IL Science is a lighting solution specialist company that produces and sells LED silicone lenses, LED lighting products, and IoT-based smart lighting systems, which are core optical components of LED lighting products. In 2015, it developed the world's first silicone lens for LEDs.

Jaeil Park, a researcher at Kiwoom Securities, said, "IL Science is expanding its application fields not only in its existing main markets of construction and lighting but also in vehicle LED light parts and smart farms. In December 2018, it acquired IL Bio (formerly Mineral Science Institute) and started developing an LED scalp mask for hair loss prevention using silicone lenses, which is scheduled to be released within the first half of this year." He added, "In addition, IL Science signed a memorandum of understanding (MOU) with a domestic Tier 1 company and is developing LED headlamps applied with silicone lenses. The prototype is in the final stage, and the continuous expansion of application fields will be a medium- to long-term growth momentum for IL Science."

He emphasized, "IL Science developed an IoT-based smart lighting system based on technology that minimizes false recognition and malfunction occurring in existing low-cost IoT products by recognizing values from infrared sensors and temperature sensors through an algorithm. Last year, it secured a smart tunnel project from Korea Expressway Corporation, marking the beginning of B2G sales. Besides smart tunnels, it established smart restroom systems in over 40 highway rest areas nationwide and in SRT and KTX stations, securing references."

Kiwoom Securities forecasted that IL Science's sales and operating profit this year will increase by 47.8% and 91.7% year-on-year to 30 billion KRW and 2.3 billion KRW, respectively. He said, "We expect significant growth this year, driven by increased silicone lens sales due to expanded application fields and the full reflection of previously ordered sales to construction companies. The smart lighting system market is still in its early growth stage, and considering the increasing number of adopting companies, the growth rate is expected to be steep in the future."

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