New Stock Lemon 'Celebration'... 300% Expansion of Nano Membrane for Protective Masks and Outdoor Materials

[Asia Economy Reporter Hyungsoo Park] Lemon, newly listed on the KOSDAQ market, is soaring compared to its opening price.

At 9:22 a.m. on the 28th, Lemon was trading at 10,800 KRW, up 25.29% from its opening price. Lemon started trading at 8,620 KRW, 19.7% higher than its public offering price on the day.

Lemon received preliminary review approval for KOSDAQ listing in December last year. The public offering price was set at 7,200 KRW through demand forecasting targeting institutional investors. The general subscription recorded a competition rate of 800 to 1.

Founded in 2012, Lemon produces high-performance electromagnetic interference (EMI) shielding components and heat dissipation sheets using nanotechnology, as well as nano membrane materials with ultra-fine pores. It has supplied materials to various smartphones such as the Galaxy S series, Note series, and 5G series. It has also entered the outdoor market by exclusively supplying materials to The North Face. Recently, it has gained attention for its quarantine masks applying nano material membrane technology.

At the end of last year, it launched its own brand AirQueen Yellow Dust Mask and AirQueen Quarantine Mask. While conventional respiratory masks filter fine dust of 20,000 nm size by charging nonwoven fabric, nano fiber masks control particles in the range of about 100 to 200 nm.

Kim Hyogyu, CEO of Lemon, stated, "We will not remain where we are but continue to develop as a leading global company in the nano material sector."

Yoon Hyukjin, a researcher at SK Securities, said, "Using public offering funds and retained funds, Lemon is investing approximately 43 billion KRW in nano membrane facilities," adding, "the existing production capacity of 40 million m2 across 5 lines will increase to 120 million m2 across 13 lines starting from the second quarter of this year."

He added, "The increase in sales of nano membranes supplied to The North Face, which will be fully supplied from the second half of the year, and products such as the ‘AirQueen’ masks will be growth drivers this year."