Easitronics "Secures Global Production Base through KOSDAQ Market Listing"

Securing Market Leadership in Power Conversion Devices
Focusing on Market Share and Client Acquisition

[Asia Economy Reporter Minji Lee] Easytronics, a specialized power conversion device company, announced at its IPO press conference on the 10th that it aims to accelerate growth by securing a global production base through listing on the KOSDAQ market at the end of this month.

Easytronics mainly develops and manufactures inverters that convert DC and AC power, and converters that exchange high voltage and low voltage among power conversion devices. As an essential component in devices that use electricity, it is often called the "heart" of electric vehicles and hydrogen vehicles. Easytronics has built its business portfolio around electric vehicles (EVs), as well as communication equipment and defense vehicles, and plans to actively enter the ESS and DC distribution businesses in the future.

Having collaborated early on with domestic large corporations in the development and mass production of electric vehicles, Easytronics holds a competitive edge in the EV sector. Kwon Hyuk-il, Executive Director of Marketing, stated, "We will increase the supply of various commercial vehicle products by expanding overseas bases," adding, "The sales proportion of power conversion devices for EVs will continue to rise."

In the telecommunications business, Easytronics produces rectifiers and power supply units used in communication equipment. Through the top domestic telecommunications conglomerate, Easytronics holds the number one position in supplying PSU for optical repeaters. With the anticipated increased demand in the 5G industry, Easytronics is expected to continue its external growth.

The ESS converter product, prepared as a new business, has been jointly developed with a domestic large corporation and is preparing for the first system demonstration in Korea. In another new business area, the DC distribution business, Easytronics has secured the market through joint development with the Korea Electric Research Institute and has started supplying to domestic large corporations.

Easytronics’ power conversion technology is expected to expand its application range infinitely with the advancement of cutting-edge technologies. Executive Director Kwon said, "We will expand product lines in each business area such as eco-friendly vehicles, 5G communications, renewable energy, and defense, and apply the technology to unmanned electric vehicles, catenary-free trams, golf carts, agricultural machinery, solar power, and ships."

Easytronics’ sales in 2020 were approximately 15.3 billion KRW, with an average annual growth rate exceeding 39% over the past five years. More than 50% of its employees are research and development personnel, and it invests over 16% of sales revenue in R&D.

The public offering funds will be used for research and development and facility investment to meet the mass production demands of global customers. To this end, Easytronics plans to accelerate growth by securing a global production base for entry into the European and Southeast Asian markets through the establishment of overseas joint ventures.

Preparing for a "SoBuJang (Materials, Parts, and Equipment) Special Listing," Easytronics will offer 1.98 million shares out of a total of 7.92 million shares planned for listing, with a desired public offering price range of 19,000 KRW to 22,000 KRW. After a demand survey on January 13-14, general investor subscription will be conducted from the 20th to the 21st. The lead underwriter is NH Investment & Securities.

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