iWons, Progressing Contract for Secondary Battery Material Technology Transfer

[Asia Economy Reporter Yoo Hyun-seok] iWons announced on the 14th that it is in the process of signing a technology transfer contract related to secondary battery materials with a European secondary battery development company and is also discussing the establishment of a joint venture in the second half of the year.

Currently, technology tests related to secondary battery materials are being conducted simultaneously at domestic research institutes and university research centers in the United States.

Meanwhile, iWons also announced the finalized first-quarter performance figures, which exceeded the preliminary estimates. The operating profit for the first quarter was 6.657 billion KRW, a surge of 760% compared to the previous quarter and 421% compared to the same period last year. This also broke the company's highest operating profit record of 5.8 billion KRW set in the second quarter of 2018.

The net profit for the period was 5.571 billion KRW, an increase of more than 518% compared to the same period last year. Sales amounted to 37.719 billion KRW, showing a 13.7% increase.

An iWons official stated, "The increase in order volumes from domestic and international clients and cost reduction effects led to the improved performance," adding, "In the traditionally peak seasons of the second and third quarters, the impact of diversifying clients and expanding order volumes is expected to be even greater."

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