[Click eStock] "Dongwoon Anatech, Full-Scale Reflection of Technology License"

On the 12th, Eugene Investment & Securities analyzed that Dongwoon Anatech has begun to generate sales from the technology license agreement in earnest.

Dongwoon Anatech recorded sales of 25.9 billion KRW and an operating profit of 8.9 billion KRW on a separate basis in the first quarter of this year. Compared to the same period last year, sales increased by 96.5%, and operating profit turned positive.

Jongseon Park, a researcher at Eugene Investment & Securities, said, "The positive aspect of the first-quarter performance is that sales from the technology license agreement have started to occur," adding, "At the end of last year, we signed a license agreement with Hong Kong's Halo Microelectronics for autofocus (AF) and optical image stabilization (OIS) technologies."

He continued, "Among the $21 million technology transfer fee, the first and second contract payments were reflected in the quarterly performance," adding, "Technology license sales will also be reflected in the second quarter."

It is estimated that Dongwoon Anatech will record sales of 24.8 billion KRW and an operating profit of 7 billion KRW in the second quarter. Sales are expected to increase by 122.6% year-on-year, and operating profit is expected to turn positive.

Researcher Park analyzed, "The current stock price is trading at a price-to-earnings ratio (PER) of 8.9 times based on this year's earnings estimates," adding, "It is trading at a discount compared to the industry average PER of 20.2 times."

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