[Click eStock] "Pharmicell, Expansion to Respond to New ASIC Entry"

DS Investment & Securities forecasted on the 25th that Pamisel's sales and profits will increase next year through expansion investment.

Pamisel held a board meeting the previous day and decided to expand its 3rd factory in the Ulsan Onsan Industrial Complex. Without external financing, including paid-in capital increase, it will invest 30 billion KRW using its cash reserves. The goal is to start operations in the second half of next year.

Kim Suhyun, a researcher at DS Investment & Securities, explained, "The expansion decision reflects the increased demand for curing agents and resins needed for artificial intelligence (AI) accelerators and 5G network equipment."

He added, "Doosan Electronics BG is exclusively handling the next Blackwell model, Rubin," and analyzed, "The Taiwanese competitor EMC is shifting its strategy to ASIC." He emphasized, "In fact, following Blackwell, Rubin is also highly likely to be exclusively supplied by Doosan," and "Pamisel's expansion investment appears to be aimed at responding to next year's mass production of Rubin and new entry into additional application-specific integrated circuits (ASICs)."

Researcher Kim analyzed, "Due to increased orders related to ASIC mass production starting next month and production of the upgraded Blackwell version, Ultra, Pamisel is operating in three shifts." He added, "High-quality products used in AI accelerators are not easily dual-sourced by suppliers," and "there is no move toward dual sourcing from Doosan's side either."

DS Investment & Securities revised upward its sales and operating profit estimates for next year by 18.2% and 22%, respectively, reflecting the expansion.

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