[Click eStock] "Hyundai Mubeoks, Expected to Win 2nd Battery Logistics Automation Orders"

NH Investment & Securities Report

[Asia Economy Reporter Kwangho Lee] NH Investment & Securities forecasted on the 29th that Hyundai Movex's order backlog and sales will increase simultaneously due to expanded orders related to secondary battery logistics automation. No target price or buy recommendation was provided.

Researcher Yeonseung Jeong of NH Investment & Securities stated, "Hyundai Movex is a total logistics automation solution company that secured a project in April this year to build logistics automation equipment for LG Chem's cathode material factory, expanding its front-end industry area into secondary batteries," adding, "It is also a top-tier domestic player in the subway automatic door sector."

Researcher Jeong explained, "In the short term, corporate CAPEX investment may shrink due to the slowdown in e-commerce market growth and concerns about economic recession, but as domestic secondary battery companies begin full-scale expansion in the U.S., demand for logistics automation is expected to increase accordingly," and added, "They plan to offset the reduction in CAPEX of distribution companies through secondary battery logistics automation orders in the U.S. in 2023."

He also said, "They secured the Sydney Metro automatic door project in Australia last December," and predicted, "If detailed installation contracts are finalized within 2023, the order amount could expand up to 100 billion KRW."

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