[Click eStock] "Deepnoid, Stock Price Differentiation Expected with Visible Achievements"
SK Securities analyzed on the 24th that Deepnoid is expected to show differentiated stock price performance based on visible achievements. No investment opinion or target price was presented.
On the 17th, Deepnoid announced the signing of a development and supply contract for a secondary battery vision system program worth 7.5 billion KRW. Donggeon Lee, a researcher at SK Securities, explained, "This supply contract for the AI solution for factory automation, ‘DEEP:FACTORY,’ has a confirmed contract amount of 7.5 billion KRW, which corresponds to about 236% of last year's separate sales revenue," adding, "It is significant as it is the first mass production contract for a machine vision AI solution for secondary batteries by a domestic AI company and also the largest in terms of scale."
He said, "Sales from this contract are expected to gradually increase starting in 2024," and added, "Based on the addition of related sales, a clear performance turnaround is anticipated with 2024 guidance of approximately 20 billion KRW in sales and about 7 billion KRW in operating profit."
SK Securities expects that starting with this supply contract, Deepnoid will also show visible achievements not only in industrial AI but also in the medical AI field. The researcher explained, "The brain aneurysm AI imaging diagnostic solution DEEP:NEURO, developed for the first time domestically, was selected as an innovative medical device last August and has officially entered the non-reimbursed market," adding, "Clinical trials are expected to begin in earnest based on networks with major domestic tertiary hospitals for market entry."
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He emphasized, "Although many AI companies that recorded significant stock price rebounds earlier this year amid high interest in AI are continuing to show weak stock prices," he stressed, "starting with the DEEP:FACTORY supply contract, Deepnoid, which holds competitiveness and momentum in both industrial AI and medical AI, is expected to show differentiated stock price trends."
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