[Asia Economy Reporter Hyungsoo Park] Lemon, recently listed on the KOSDAQ market, is showing strong performance. As existing mask-related companies such as KM and Welcron have surged, Lemon is also gaining attention. With the worsening shortage of mask raw materials, expectations for improved earnings due to Lemon's expansion are growing.
As of 2:24 PM on the 6th, Lemon is trading at 9,350 KRW, up 7.97% from the previous day.
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 including 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 membrane technology.
At the end of last year, Lemon launched its own brand AirQueen Yellow Dust Mask and AirQueen Quarantine Mask. While conventional respiratory masks use nonwoven fabric charged with static electricity to filter out fine dust particles of about 20,000 nm, nano fiber masks control particles in the range of approximately 100 to 200 nm.
Yoon Hyukjin, a researcher at SK Securities, explained, "The nano membrane produced by Lemon has pore sizes of about 300 nm, allowing water vapor to pass through but blocking water droplets and common bacteria," adding, "It can produce the world's largest scale and uniform quality nano membranes.".
He continued, "Based on its mass production technology for nano membranes, Lemon signed a three-year exclusive contract with The North Face in November 2018," and added, "The North Face launched a new outdoor brand called ‘Futurelight’ in the fall of 2019."
Furthermore, "Leveraging the characteristics of nano membranes, Lemon launched its own breathable sanitary pad brand ‘AirQueen’ to generate product sales," and analyzed, "It has entered a high-speed growth phase through large-scale expansion."
Researcher Yoon also introduced, "Using public offering funds and existing capital, Lemon is investing approximately 43 billion KRW in nano membrane facilities," and explained, "The existing production capacity of 40 million m2 across five lines will increase to 120 million m2 across 13 lines starting from the second quarter of this year." He predicted, "Increased sales of nano membranes for The North Face and products such as ‘AirQueen’ and masks will be growth drivers this year."
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