[Asia Economy Reporter Hyunseok Yoo] Tirobotics announced on the 6th that its consolidated operating profit for the second quarter turned to a surplus of 1.254 billion KRW compared to the same period last year. During the same period, sales increased by 107.52% to 19.486 billion KRW.
Tirobotics analyzed that the main reasons for the performance improvement were the expansion of display investments in the Greater China region, diversification of clients, and proactive cost reduction management. A company official stated, "Although uncertainties are expected due to the ongoing COVID-19 pandemic, we will continue strong performance through securing technological superiority in the vacuum robot field and the expansion of investments by Greater China companies in related industries. From a mid- to long-term perspective, we will solidify sales in our core business and continuously improve efficiency in new growth engine businesses to achieve stable performance even amid crises."
Earlier, the Chinese government classified the display industry as a strategic growth industry and has been implementing substantial support policies, leading the company to forecast that OLED investments by Chinese panel companies will continue to expand in the future. Tirobotics supplies 6th generation vacuum robots to 11th generation large vacuum robots to most customers in the Greater China region.
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