[Click eStock] "Jinyeong, Core Business Recovery and New Business Becoming Visible"

FS Research analyzed on the 10th that Jinyoung is expected to recover its performance through the recovery of its core business and the full-scale launch of its semiconductor business. No investment opinion or target price was presented.

Founded in 1996, Jinyoung is a company specializing in the production of high-performance plastics used in the furniture and interior markets. It was the first to use ASA (Acrylate-Styrene-Acrylonitrile), an eco-friendly high-performance material, for furniture surface finishing, and filed patents for related technologies. It has also been proven harmless to the human body by the U.S. Food and Drug Administration (FDA).

Kim Yong-ho, a researcher at FS Research, said, "Jinyoung is focusing on expanding its market share in the furniture market through products utilizing ASA material jointly developed with LG Chem," adding, "ASA material was developed as an exterior material and, although it is somewhat more expensive than PET products, which currently dominate the domestic market, it has excellent weather resistance and features minimal changes in physical properties and appearance." He continued, "Jinyoung has secured major domestic furniture companies such as Hyundai Livart as clients, and since there are no competitors in the ASA material market yet, market expansion can soon lead to external growth."

FS Research expects Jinyoung's new semiconductor antistatic film business to become visible this year. Researcher Kim Yong-ho explained, "The semiconductor antistatic film business is expected to be fully launched within this year," and added, "The semiconductor antistatic film is used during the transfer process in semiconductor and PCB manufacturing."

He said, "While existing antistatic films were manufactured by coating antistatic coating agents on PP material films, the product developed by Jinyoung combines PP material and antistatic material, eliminating the need for separate coating," and added, "Through this manufacturing method, Jinyoung's product has advantages such as a lower defect rate, higher abrasion resistance, and better static electricity prevention compared to existing products."

He also emphasized, "Tests being conducted with major domestic clients are proceeding smoothly, and since manufacturing is possible by simply replacing the roll on the existing production line, rapid mass production response is expected after test completion."

FS Research predicted that Jinyoung's stock price could also rise if performance visibility expands next year. He explained, "Jinyoung was listed in June this year with a public offering price of 5,000 won, but the stock price declined sharply as quarterly earnings plummeted afterward," and added, "The poor performance was due to a decrease in sales to China, but as semiconductor antistatic film sales become full-scale next year, the stock price is expected to show a resilient rise."

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