[Public Notice+] NanoEntek Reports Operating Profit of 1.3 Billion KRW in H1, Up 45% YoY

[Asia Economy Reporter Jang Hyowon] NanoEntek (CEO Jeong Chan-il) announced on the 14th through a public disclosure that its sales for the first half of this year reached 12.6 billion KRW, an increase of about 6% compared to the first half of the previous year. Additionally, operating profit during the same period was 1.3 billion KRW, up approximately 45% year-on-year. However, net profit for the period recorded 1.6 billion KRW, a decrease of about 10% due to the impact of exchange rate declines.

As a result, the company continues its strong performance trend this year following last year’s profitability in both operating and net profits. In particular, despite the second quarter facing reduced overseas exports due to the impact of COVID-19, sales of the blood product analyzer ADAM-rWBC, supplied to the American Red Cross, increased, enabling stable sales and earnings.

Furthermore, last year saw a significant performance gap between the first and second quarters due to delayed sales in Q1 being realized in Q2, but this year, sales and operating profits for both Q1 and Q2 have been evenly distributed, indicating enhanced performance stability.

In the second half of the year, the company expects increased exports and stable performance growth due to positive potential factors such as additional approvals for COVID-19 diagnostic kits in North and South American regions including the United States, Brazil, and Mexico, as well as in European regions like Belgium, alongside continued strong sales of existing products.

Notably, the United States and Brazil rank first and second globally in COVID-19 infections, and Belgium only grants approval for quantitative tests (which display results numerically) rather than general qualitative rapid diagnostic kits (which show results as negative/positive). Therefore, NanoEntek’s COVID-19 antibody diagnostic kit, capable of both quantitative and qualitative testing, holds a competitive advantage.

Moreover, although FDA review standards have tightened compared to the early stages of the COVID-19 pandemic, causing some delays in approvals, the company is continuously obtaining additional approvals in multiple overseas countries such as Germany, Spain, Indonesia, and Finland, projecting stable sales trends.

NanoEntek’s strategy is to continuously pursue external growth and profitability expansion through the development of various new products and securing growth drivers. Above all, based on its core Lab-on-a-Chip platform technology, the company plans to expand diagnostic items and release new products with enhanced speed and convenience.

Recently, the company plans to sustain fundamental growth through the launch and expanded sales of diverse products including ADAM-CDx, a comprehensive solution supporting all processes of the rapidly growing CAR-T Cell therapy research, development, production, and QC; ‘ADAM-rWBC HT,’ which enables large-scale white blood cell testing at once, overcoming the limitations of small devices; and the addition of cord blood type testing functionality to ADAM-CD34d, which counts hematopoietic stem cells.

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