RaonPeople, Cumulative Order Backlog of 17.5 Billion KRW... "200% Surge Compared to First Half"
[Asia Economy Reporter Hyunseok Yoo] AI specialist company Raon People announced on the 4th that as of November, its cumulative order volume has reached 17.5 billion KRW, an increase of 117% compared to last year's sales and more than 200% compared to the 5.7 billion KRW order backlog reported in this year's semi-annual report.
Looking at the single sales and supply contracts signed in the second half of the year disclosed by the company, contracts confirmed through second-half disclosures amount to 5.1 billion KRW, including 2.55 billion KRW for screen golf sensors, 1.51 billion KRW for the Gyeongbuk Andong open-field smart agriculture pilot project, and 1.05 billion KRW for screen golf sensors. Adding the order backlog of 7.5 billion KRW in smart farm and AI traffic sectors, AI machine vision inspection equipment and solutions, camera module inspection, and golf sensors, the total is analyzed to exceed 17.5 billion KRW.
Raon People is expected to surpass last year's sales of 15 billion KRW with the combination of sales up to the third quarter and the 17.5 billion KRW order backlog in the second half, showing signs of improving performance. Last month, the company secured 30 billion KRW in investment from four investment institutions, including Kiwoom AI New Technology Business Investment Association, strengthening its foundation and expanding its scale to enhance corporate competitiveness.
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A company official said, “Since contract periods vary by order volume, not all will be reflected in this year's performance immediately, but it is certainly an encouraging result that the order volume in the second half is greater than last year's sales.” He added, “We have completed positive structural improvements by strengthening research and development capabilities and sales power through new funding acquisition, as well as laying the groundwork for entering the global market.” He continued, “From the end of this year, when the order volume begins to translate into actual performance, explosive growth can be expected.”
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