[Click eStock] "PineMTech, Secondary Batteries to Boost Performance in 2024"

NH Investment & Securities analyzed on the 26th that secondary batteries will contribute to Pine M Tech's performance growth in 2024.

Son Se-hoon, a researcher at NH Investment & Securities, stated in a report on the same day, "Pine M Tech started supplying EV Module Housing (End Plate) parts, which fix battery cells and protect them from external shocks, applied to cell modules for battery company S's US-bound products from the 4th quarter of this year," adding, "The existing parts supplier supplies to Europe, and the company was newly selected as the supplier for the US market."

Researcher Son Se-hoon said, "Expansion related to this is underway, and the annual capacity of the VINA CNS Plant 2, a Vietnamese subsidiary, is expected to increase from 500,000 units to 3 million units, with completion scheduled for the 2nd quarter of next year," and predicted, "Until now, sales related to secondary batteries have come from Cooling Blocks, amounting to about 10 to 15 billion KRW annually, but with the supply of EV Module Housing, related sales are expected to increase to 69 billion KRW in 2024 and 96 billion KRW in 2025."

He also analyzed that the importance of Pine M Tech's internal hinges will be highlighted. He explained, "Samsung Electronics has mentioned the possibility of applying foldable displays to laptops and tablet PCs, and the future form factor changes of IT devices will be led by foldable displays," adding, "Foldable displays are expected to be further applied to gaming devices and automotive displays, indicating high growth potential."

He continued, "Pine M Tech is preparing to supply hinges for devices other than smartphones, with the supply timing expected in the 4th quarter of next year," and added, "Additionally, customer tests are underway to enter the external hinge market."

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