[Click eStock] MCNEX, Full-Scale Launch of Automotive Electronics Component Sales
Daishin Securities analyzed on the 18th that MCNEX's sales of automotive electronic components, including autonomous driving, will begin in earnest. The investment opinion of "Buy" and the target price of 41,000 KRW were maintained.
Daishin Securities forecasted that MCNEX's sales and operating profit for the second quarter will reach 193.8 billion KRW and 1 billion KRW, respectively. Kangho Park, a researcher at Daishin Securities, said, "Due to the slowdown in Samsung Electronics' smartphone sales, performance is expected to be weaker than previously estimated. However, sales of automotive electronic components are estimated to increase by 23.2% quarter-on-quarter to 62.2 billion KRW." He added, "The sales proportion will exceed 30% (32.1%) for the first time."
Researcher Park predicted that MCNEX's automotive electronic component sales will increase rapidly. He explained, "The number of cameras adopted per vehicle has increased from the previous 4-6 units to 10-12 units. With the adoption of autonomous driving functions, additional core components have been added, marking the beginning of a full-scale sales growth phase."
Along with this, he expected the average supply price to rise due to the increase in the number of cameras adopted in vehicles and the additional sales of automotive electronic components. He emphasized, "With the launch of Kia's EV9 applying Level 3 autonomous driving, the average supply price is estimated to have expanded 3 to 4 times compared to before due to additional sales of related automotive electronic components."
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Finally, Daishin Securities forecasted that MCNEX's automotive electronic component sales will continue to increase from 176.3 billion KRW in 2022 to 255.8 billion KRW in 2023 and 323.1 billion KRW in 2024. He predicted, "With stagnant sales of smartphone cameras but increased sales of automotive cameras and components, total sales in 2024 will significantly improve to 1.0045 trillion KRW, and operating profit will reach 38 billion KRW."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
