[Click e-Stock] "GNS Eco Set to Enter a Boom Phase in Both Semiconductors and Solar Power"

On April 24, SK Securities forecasted that GNS Eco is entering a full-fledged growth phase, as both the semiconductor and solar power investment cycles are expected to coincide. The company is projected to achieve high growth in its performance over the next several years.

Dongjoo Lee, a researcher at SK Securities, explained, "The company manufactures scrubbers that purify hazardous substances generated during production processes in industries such as semiconductors, solar power, and displays. Its main product is the plasma scrubber, and it also produces powder traps and white smoke removal devices." He added, "Based on projections for 2025, the sales breakdown by sector is as follows: semiconductors 50%, solar power 11%, displays 1%, and others 38%."

The company's strong presence is particularly notable in the semiconductor and solar power markets. Researcher Dongjoo Lee stated, "In semiconductors, the company is one of the main vendors for SK hynix. In the Chinese and Indian solar power scrubber markets, its market share reaches 80–90%." However, he added, "The company is significantly affected by the semiconductor and solar power investment cycles. It benefited from the Chinese solar investment boom in 2022–2023, but faced reduced investments due to oversupply in 2024–2025."

From 2026 to 2028, both industries are expected to expand in tandem. Researcher Dongjoo Lee noted, "SK hynix, a major domestic client, is set to invest in the M15X DRAM facility in Korea, followed by NAND investments in its second plant in Dalian, China, in the second half of the year. The company supplies scrubbers to both domestic and overseas client bases." He added, "In 2027, memory capacity expansion will accelerate, and DRAM investment is expected to double compared to the previous year." Accordingly, he emphasized, "Semiconductor-related sales are projected to rise significantly from 46 billion won in 2025, to 50 billion won in 2026, and to 85 billion won in 2027."

The solar power segment is also expected to grow rapidly. Researcher Dongjoo Lee analyzed, "Recently, India has been actively investing in solar power, and the annual new installation capacity is projected to increase from 20GW to 50GW by 2030. The company holds an oligopoly in the Indian solar power scrubber market, so the benefits are substantial." He further stated, "Solar-related sales are expected to jump from around 9.7 billion won in 2025 to 55 billion won in 2026, and are projected to remain at a high level going forward."

The possibility of expansion into the U.S. market was also mentioned. Researcher Dongjoo Lee explained, "Earlier this year, Tesla announced a 100GW solar production project. Since the company has established scrubber references with both Chinese and domestic companies in the HJT cell deposition equipment supply chain, significant trickle-down effects are expected."

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