Airute "Woojin Gijeon expects 200 billion KRW in cumulative orders for Q3"

[Asia Economy Reporter Yoo Hyun-seok] A-Route announced on the 19th that its affiliate, Woojin Gijeon, a special power equipment engineering solutions company, is expected to surpass 200 billion KRW in cumulative orders for the third quarter of this year.

Woojin Gijeon's order amount for the first half of this year reached 104.1 billion KRW, a 35% increase compared to the same period last year. If the expected cumulative order amount of 200 billion KRW for the third quarter is achieved, the order performance is projected to exceed that of the same period last year by more than 50%. The sharp increase in orders is due to large-scale contracts signed in power quality solutions and renewable energy solutions.

A Woojin Gijeon official stated, "Investments in front-end industries such as semiconductors and displays are continuing, resulting in order performance far exceeding plans. Including the confirmed third-quarter orders, if large-scale infrastructure construction projects for renewable energy and power quality-related projects expected in the second half of this year are secured, the annual order target of 260 billion KRW is expected to be easily achieved."

Founded in 1984, Woojin Gijeon is an integrated power platform company providing solutions in four areas: ▲power quality ▲power systems ▲power equipment ▲renewable energy.

Jang Chang-ik, CEO of Woojin Gijeon, said, "With economic activities worldwide increasing after a slowdown, and investments in infrastructure and core industry facilities continuing, now is the opportunity for Woojin Gijeon's growth. We will not only respond to the market through the supply of existing power equipment products and solutions but also create new growth opportunities by entering the future energy market."

A-Route acquired a 30.7% stake in Woojin Holdings, the owner of Woojin Gijeon, in June. In December last year, A-Route invested in a private equity fund that acquired convertible bonds (CB) of Woojin Holdings, securing a call option to purchase all the CBs. If A-Route exercises this call option in the future, it is expected to gain management control of Woojin Gijeon.

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