[Featured Stock] ENPlus Gains Spotlight on Stake in Chinese Secondary Battery Firm Amid 100% Adoption of Hydrogen and Electric Vehicles by Public Institutions

[Asia Economy Reporter Minwoo Lee] ENPlus stock is showing strong performance. This appears to be due to the collaboration with Chinese secondary battery companies being highlighted following the ruling party's announcement to convert 100% of public institution vehicles to hydrogen and electric vehicles.

As of 2:30 PM on the 12th, ENPlus stock price recorded 5.13% increase from the previous day, reaching 5,530 KRW. The ruling Democratic Party's plan to expand the supply of hydrogen and electric vehicles to public institutions seems to have acted as a positive factor.

On the same day in the morning, the Democratic Party held an on-site policy meeting in Goyang-si, Gyeonggi Province, under the theme of 'Innovative Growth and Early Transition Plan for Future Vehicles.' At this meeting, the Democratic Party announced its active support for achieving the '2025 cumulative supply plan of 1.13 million electric vehicles and 230,000 hydrogen vehicles.' With a total investment of 20.3 trillion KRW, the plan aims to supply 1.13 million electric vehicles and 230,000 hydrogen vehicles by 2025, including measures such as ▲ converting delivery cargo four-wheel vehicles and village buses to electric vehicles ▲ expanding ultra-fast chargers on major highways nationwide ▲ mandating 100% electric and hydrogen vehicles for new purchases or leased vehicles by public institutions.

Earlier in February, ENPlus (formerly known as Nanomedics) invested 40 million yuan (approximately 6.8 billion KRW) in the Chinese secondary battery company 'Jiangsu Fengcheng New Energy Power Technology (hereafter FC New Energy),' acquiring a 28.57% stake and becoming the second largest shareholder. FC New Energy has been actively conducting business, including starting research on graphene-applied battery development by receiving graphene from Standard Graphene at the end of last year and collaborating with Yexin New Energy Co., Ltd., an electric vehicle battery company under Zhongxin Group.