[Public Notice+] LIS Posts Strong Q2 Earnings... "Accelerating Growth Through Business Diversification"

[Asia Economy Reporter Eunmo Koo] LIS announced on the 24th through a public disclosure that its consolidated sales for the first half of this year amounted to 127.6 billion KRW, representing a 104% increase compared to the same period last year. Operating profit for the same period also rose by 156% to 11.2 billion KRW, and net profit turned positive, reaching 12 billion KRW.

Second-quarter performance also saw significant growth. Sales grew by 89% to 74.9 billion KRW, and operating profit increased by 102% to 6.8 billion KRW. Net profit recorded 3.5 billion KRW, turning positive.

A company representative explained, "The Chinese government is utilizing the OLED display sector as part of its economic stimulus measures to overcome COVID-19," and added, "This strong performance is analyzed to be driven by China's investment in OLED equipment."

This year, LIS has consecutively secured orders for display manufacturing equipment. On the 2nd, it received an order worth 31.5 billion KRW from CSOT, and in April and May, it secured orders worth 13.9 billion KRW from Tianma and 48 billion KRW from BOE, respectively, for display manufacturing equipment.

It is known that sales of mask manufacturing equipment are also included in this performance. The company has been preparing to enter the mask sector by adding mask-related business objectives through an extraordinary general meeting of shareholders held on the 22nd of last month.

A company representative stated, "Due to the continued increase in demand for mask equipment in the market, we started producing and supplying mask equipment from the second quarter," and added, "As the mask market size grows, inquiries for equipment contracts continue, so we expect more contracts to be made in the second half of the year."