[Click eStock] "NCS, a Specialized Company in Secondary Battery Inspection Equipment Preparing for All-Solid-State Batteries"

KB Securities analyzed on the 29th that Ensys is a secondary battery equipment specialized company preparing for all-solid-state batteries. They did not provide an investment opinion or target price.

Ensys is a secondary battery inspection equipment manufacturing specialist company that was listed on the KOSDAQ market in 2021. It has a lineup of inspection equipment for all battery manufacturing processes, including electrode, assembly, and formation processes.

KB Securities forecasted that Ensys's sales and operating profit this year will increase by 52% and 517% year-on-year to 77.6 billion KRW and 11.7 billion KRW, respectively. Jaeyoon Han, a researcher at KB Securities, said, "The sharp increase in new orders and order backlog, along with successful cost improvements, are the reasons for expecting strong performance in 2024," adding, "Although various macro issues persist, the fact that customers' existing investment plans are proceeding without disruption suggests that the strong order trend is likely to continue for the time being."

He explained, "Since 2022, Ensys has acquired shares in companies such as Gapjin, a charge-discharge equipment company; Rakyeong Engineering, an assembly process equipment company; and CAT Beam Tech, an X-ray equipment company. Internally, it has continued developing various new equipment including copper foil, preparing for a transition to a comprehensive battery equipment company," adding, "The launch of activation process equipment, assembly process equipment (cylindrical batteries), and copper foil-related equipment is expected, and sales generation is anticipated from 2025."

He emphasized, "The mid- to long-term promising field is the all-solid-state battery, which is expected to begin commercialization in 2027," highlighting, "It is significant that Ensys's inspection equipment was delivered to the Giheung pilot line established by Samsung SDI this year."

He continued, "It is judged that Ensys has quickly secured references with global cell manufacturers, gaining a favorable position compared to other companies," and said, "We focus on the possibility that this will become Ensys's core growth engine in the mid- to long-term."

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