[Featured Stock] Samki's Subsidiary Listing Issue Rises Amid LG Energy Solution's IPO Fever
[Asia Economy Reporter Hyunseok Yoo] Samgi is showing strong performance. It appears to be influenced by news that institutional investors' participation in LG Energy Solution's demand forecasting reached 10 trillion won.
As of 9:52 AM on the 13th, Samgi was trading at 5,860 won, up 14.45% (740 won) compared to the previous trading day.
Samgi's subsidiary, Samgi EV, is an automotive parts company primarily producing electric vehicle parts. Its main product is the end plate, which protects the secondary battery module for electric vehicles. Its major client is LG Energy Solution.
Samgi EV's strength lies in its laser welding technology. Compared to competitors, it has reduced the defect rate. During the end plate welding process, high temperatures are applied in a short time, often causing defects such as bubbles. While the industry average defect rate is around 40-50%, Samgi EV's is known to be below 10%.
Samgi is promoting the listing of Samgi EV. This is interpreted as a move to respond to the explosively growing electric vehicle and secondary battery market. Samgi EV has shown steep growth, achieving exports worth 50 million dollars within 9 months of its establishment. Its cumulative sales for the third quarter of last year were 90.8 billion won. Listing on the stock market will facilitate fundraising and attracting investments.
Previously, Samgi sold 7.31% of Samgi EV's shares for 13.9 billion won. Samgi holds 75.49% of Samgi EV's shares.
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Samgi's overseas trading partners include Volkswagen (China and Germany), LG Magna e-Powertrain, and LG Energy Solution. It has signed supply contracts with the Volkswagen Group for DSG valve bodies and valve blocks for plug-in hybrids. With LG Group, it has signed supply contracts for electric vehicle battery motor housings and end plates, expanding its eco-friendly vehicle lineup in line with global automotive trends.
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