[Click eStock] "Rino Gong-yeop, Benefiting from AI Market Emergence"

Investment Rating 'Buy' and Target Price Set at 280,000 Won

Shinhan Investment Corp. analyzed on the 9th that Rino Industrial is expected to benefit from the opening of the artificial intelligence (AI) market. They newly issued a 'Buy' investment opinion and a target price of 280,000 KRW.

Rino Industrial is a global manufacturer of semiconductor test probes and sockets. It is expanding its market entry by developing its own brand, Rinopin. The company has over 1,000 customers including IDM, fabless, and packaging test companies.

Shinhan Investment Corp. expects Rino Industrial to benefit from the gradual recovery of the smartphone market this year. Kangho Oh, a researcher at Shinhan Investment Corp., said, "The reason for expecting demand improvement is the on-device paradigm shift and the expansion of applications (MR) due to the opening of the AI market," adding, "If consumer purchase needs for new platforms expand, growth acceleration beyond existing estimates can also be expected."

He explained, "With the full-scale launch of upgraded products by global AP companies and the preparation of AI-applied devices by global IT companies underway," he added, "This is expected to lead to increased demand for high value-added chips and an expansion of mobile application product lines." He further added, "The opening of the AI market signifies a new growth engine for socket companies, especially manufacturers of high value-added products in the form of pogo pins."

Shinhan Investment Corp. forecasted that Rino Industrial's sales and operating profit will reach 294.4 billion KRW and 120.1 billion KRW respectively this year, representing increases of 15% and 16% compared to the previous year. He emphasized, "With the recovery of IT demand and the expected increase in new chip demand from global customers, growth based on technological competitiveness is worth noting."

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