AFW Reports Operating Loss of 2.5 Billion Won Last Year...Turned to Deficit Compared to Previous Year

[Asia Economy Reporter Park Ji-hwan] Secondary battery parts company AFW announced on the 9th that its operating loss turned to a deficit of 2.5 billion KRW last year compared to the previous year.

Last year's sales amounted to 7.2 billion KRW, a 37% decrease from the previous year. Operating loss and net loss for the period turned to deficits of 2.5 billion KRW and 4.3 billion KRW, respectively. The overall sales decline was due to a change in battery design by the final delivery destination, which reduced demand for the main product, anode friction welding terminals. Additionally, one-time expenses affected the net loss for the period.

AFW is continuously investing in R&D to enter new businesses and is producing research results. In fact, the company is securing mass production technology centered on patented technologies such as CAF·CCA busbars, film capacitor busbars, and pouch-type battery cells.

Last year, the company registered patents related to electric vehicle battery modules and introduced FSW (friction stir welding) technology for welding electric vehicle electronic component cases. It is evaluated that the company has secured core source technologies that will lead innovation in eco-friendly vehicle batteries. In particular, the technology secured by the company has advantages in price, quality competitiveness, and weight reduction compared to existing technologies, aiming to enter various markets.

An AFW official stated, "We are continuously investing in R&D and facility investments for mid- to long-term growth," adding, "Based on friction welding and FSW (friction stir welding) technology, we are devoting ourselves to developing various secondary battery parts and electric vehicle parts, and we will establish cooperative relationships with major domestic and international companies to become a core parts company."

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