[Click eStock] "Hanon Systems, Expected to Benefit from Significant Increase in Eco-Friendly Vehicle Sales"

[Asia Economy Reporter Park Jihwan] Daishin Securities on the 25th presented a buy recommendation and a target price of 20,000 KRW for Hanon Systems, expecting benefits from the full-scale increase in eco-friendly vehicle sales this year.

Lee Seunghwan, a researcher at Daishin Securities, stated, "This year, sales growth is expected due to an increase in finished car sales." The sales and operating profit in the fourth quarter of last year were 2.1 trillion KRW and 194.3 billion KRW, respectively, representing increases of 7.1% and 13.6% compared to the previous year, meeting market expectations.

Eco-friendly sales surged by 57.1% to 462.3 billion KRW, and the sales proportion also increased by 7 percentage points. It is analyzed that sales and profits rose as major finished car companies increased their eco-friendly vehicle sales.

With the start of mass production of dedicated electric vehicles equipped with Volkswagen's MEB platform, benefits from improved performance are also expected. Most of Hanon Systems' eco-friendly vehicle sales are divided between Volkswagen and Hyundai Motor Group.

Researcher Lee Seunghwan said, "Since the end of last year, related sales are expected to rise with the sequential release of dedicated electric vehicles equipped with Volkswagen's MEB platform, such as the ID.3, ID.4, and ID.5," adding, "This year, the United States is expected to fully enter the electric vehicle market, making the U.S. a key region for the electric vehicle market alongside Europe and China."

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