[Click eStock] "DYPNF, Secondary Battery Equipment Business Expansion Expected... Profit Turnaround Anticipated This Year"

Hana Securities analyzed on the 31st that DYPNF's secondary battery equipment business is expected to expand rapidly. No investment opinion or target price was provided.

DYPNF is an engineering company established in 1996 that designs, manufactures, and installs powder conveying systems. Hana Securities expects DYPNF to record strong performance this year.

Kim Doohyun, a researcher at Hana Securities, evaluated, "DYPNF aims for new orders exceeding 300 billion KRW this year, expecting the largest-ever order backlog renewal along with strong performance driven by recognizing sales from orders delayed due to the war."

As of the first quarter, DYPNF achieved an order backlog of approximately 300 billion KRW. With large petrochemical projects such as the Shahin project and Qatar Ras Laffan project expected to be ordered in the second half, it is anticipated that about 300 billion KRW in new orders can be additionally secured this year. Researcher Kim emphasized, "We believe that the recognition of sales from large projects delayed this year will lead to a performance turnaround."

Alongside this, sales related to secondary batteries are also expected. He explained, "Based on existing business, DYPNF recently secured approximately 50 billion KRW worth of secondary battery-related references, including cathode precursor and waste battery equipment for the Cosmo Group. Based on these references, a full-scale expansion of the secondary battery business is expected with top-tier companies such as P Corporation and S Corporation, which are large groups in the secondary battery sector."

Hana Securities expects DYPNF to achieve sales of 41.2 billion KRW and operating profit of 800 million KRW in the second quarter of this year. Sales would increase by 152.9% year-on-year, and operating profit would turn positive. Annually, sales of 204.4 billion KRW and operating profit of 21.7 billion KRW are forecasted. Compared to the previous year, sales are expected to increase by 80.7%, with operating profit also turning positive.

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