[Click eStock] "Hanatech, Expected to Win World's Largest Semi-Solid Equipment Order... Reflected in Next Year's Performance"

[Asia Economy Reporter Hyungsoo Park] Eugene Investment & Securities on the 26th expects Hana Technology to secure the world's largest order for semi-solid equipment, anticipating it to become a mid- to long-term growth driver.

Researcher Jongseon Park of Eugene Investment & Securities explained, "Hana Technology signed a strategic partnership agreement yesterday at its Yongin headquarters with Norwegian battery manufacturer FREYR to establish semi-solid battery production facilities at FREYR's Norwegian battery plant."

He added, "The contract amount is expected to be approximately 1.5 trillion KRW," and "The contract period is estimated to be from the second half of this year until the end of 2025."

He forecasted, "It is expected to contribute to performance growth starting next year," and noted, "Although subject to change depending on detailed implementation plans, equipment supply will begin as early as next year, contributing to performance."

Researcher Park analyzed, "Hana Technology will supply battery assembly and formation process equipment to FREYR's 50GWh-scale European battery plant," and "Through this contract, FREYR plans to build a 50GWh semi-solid battery manufacturing facility in Mo i Rana, Norway."

He stated, "This corresponds to 500,000 electric vehicles," and introduced, "They are pursuing supply to European and Asian companies, including German automaker Volvo."

Researcher Park also emphasized, "Following Mo i Rana, FREYR is expanding investments to the United States, Finland, and other locations," and "They are pushing plans to secure an annual production capacity of 50GWh by 2025, 100GWh by 2028, and 200GWh by 2030."

He estimated sales of 51.5 billion KRW and operating profit of 4.5 billion KRW for the third quarter of this year, representing increases of 30.0% and 644.3%, respectively, compared to the same period last year. Researcher Park said, "Based on the expected 2022 performance, the price-to-earnings ratio (PER) is 39.3 times," and "It is trading at a discount compared to the domestic industry average PER of 49.8 times."

Hana Technology stated that although it signed a memorandum of understanding with FREYR yesterday to establish semi-solid production facilities, nothing has been finalized regarding orders.

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