KNS Achieves 30 Billion KRW in Sales... "Develops Automated Equipment for 4680 Battery Components"

KNS (KNS, CEO Jeong Bong-jin), a manufacturer of automated equipment for secondary battery CID, BMA, and CAP, announced on the 13th through a provisional disclosure of 'more than 30% change in sales or profit structure' that its consolidated sales and profits for 2023 decreased compared to the previous year.

Sales recorded 30 billion KRW, down 14% from the same period last year, with operating profit at 3.96 billion KRW and net profit at 2.7 billion KRW, representing decreases of 35% and 44% respectively compared to the previous year. The main cause of the performance decline is understood to be the deferred revenue recognition due to customers' requests for delivery delays. Additionally, temporary cost increases such as expenses related to the listing process and fixed cost rises due to production facility expansion affected the performance.

A KNS official stated, "Due to the continued sluggishness in the secondary battery front market last year and customers' requests for delivery delays, sales and operating profit decreased, but the temporary delivery delays will not affect the company's growth in the mid to long term." He emphasized, "As of the end of last year, we hold an order backlog amounting to 26.8 billion KRW, and orders are continuously increasing. We will complete orders at an appropriate time in the future."

KNS is exploring various methods to recover the performance of its core business and achieve steady external growth this year. First, it plans to focus on developing new equipment that can proactively respond to the market and diversify its portfolio. Through proactive research on the 4680 battery components, which are a hot topic in the market, it is promoting the development of automated equipment for CID and rivets, and plans to achieve higher growth by developing equipment in various areas such as collector vision inspection equipment.

Furthermore, KNS announced plans for new facility investment to directly produce CID. The production facility is scheduled to be introduced at KNS Pyeongtaek Plant 2 (old plant), and full-scale CID component production and sales are planned for the second half of this year. The investment scale is approximately 2.6 billion KRW.

Jeong Bong-jin, CEO of KNS, stated, "Although sales slightly decreased due to temporary delivery delays, we have established a stable sales base with the order backlog secured so far," and added, "The company will grow not only by expanding the equipment business but also by directly producing CID components, contributing to the continuous growth of the battery industry."

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