Creates Passes KOSDAQ Preliminary Review... "Full-Scale Global Expansion"

Global sports tech company Creates announced on the 5th that it has passed the preliminary review for KOSDAQ listing by the Korea Exchange. Following this approval, the merger process between Creates and ‘NH SPAC No.20’ will be actively pursued.

Creates is a tech company that independently designs, manufactures, and sells ‘golf launch monitors’ and related software based on ultra-high-speed image processing technology. It is well known overseas under the global brand ‘UNEEKOR’ and domestically as ‘QED’. With the United States, the world’s largest golf market, as its main focus, 70% of its product sales occur overseas, demonstrating its strong global recognition.

Creates successfully targeted demanding overseas consumers first with its patented advanced image processing technologies and algorithms, such as ‘DimpleOptix’ and ‘ClubOptix’, which provide precise measurement performance. DimpleOptix is a technology that measures golf ball spin using only the dimples without artificial markings, while ClubOptix is Creates’ proprietary technology that interprets club trajectory and impact. Based on these technological capabilities, UNEEKOR has established itself as one of the top three brands in the North American ultra-precision golf launch monitor market alongside ‘TrackMan’ and ‘Foresight Sports’.

Leveraging its know-how from successfully leading the North American market, Creates is now actively expanding into overseas markets such as Japan and China. In October this year, after several months of market entry preparations, it completed preparations for establishing a Japanese corporation. Japan is considered the largest market in Asia with a large golf population and significant growth potential. Creates plans to further expand its global sales network to Southeast Asia, Europe, and the Middle East.

Through the merger, Creates will secure 50 billion KRW in cash held by NH SPAC No.20. Creates plans to actively utilize these funds for technology development, mergers and acquisitions (M&A) to enhance business capabilities, and global brand marketing to broaden its customer base. This strategy aims to secure long-term growth momentum.

Centered around the AI Center under the newly established New Business Division in July this year, Creates is developing ‘AI Coach’, which applies deep learning-based motion recognition technology to golf. Additionally, it is planning an innovative launch monitor product equipped with edge AI functionality that performs deep learning model inference at the device level, which was previously done on servers.

Despite the domestic market downturn this year, Creates expects to achieve consolidated sales of approximately 80 billion KRW or more due to overseas market performance. In particular, its subsidiary UNEEKOR, responsible for overseas sales, showed a sharp growth trend with third-quarter sales increasing by 90% compared to the same period last year. Meanwhile, Creates has continuously expanded its growth, recording sales of 19.2 billion KRW in 2020, 45.7 billion KRW in 2021, and 67.1 billion KRW in 2022.

A company representative stated, “Recently, even amateurs prefer training based on numerical indicators derived from data analysis rather than relying on the ‘intuition’ or ‘experience’ of lesson pros or coaches. Creates plans to secure overwhelming competitive advantage in the rapidly changing market by utilizing vast swing video and shot data collected in real-time from launch monitors installed worldwide, combined with AI-based analysis systems.”

The listing of new shares issued through the merger between Creates and NH SPAC No.20 is expected around the end of March next year.

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