[Click eStock] "WithTech, Expected Benefits from Expanding Molecular Contamination Diagnosis Area"

Hana Financial Investment Report

[Asia Economy Reporter Minji Lee] Hana Financial Investment expressed on the 28th that Withtech is expected to continuously benefit from the expansion of the molecular contamination diagnosis field. No investment opinion or target price was provided.

Withtech, established in 2003, provides molecular contamination diagnosis systems for advanced industries such as semiconductors and displays. As of last year, its composition was 67.6% manufacturing environment monitoring systems, 10.3% process monitoring systems, 5.7% atmospheric environment monitoring systems, and 16.4% service contracts.

The manufacturing environment monitoring system, which accounts for the largest portion of sales, can detect up to seven types of substances, whereas global competitors measure only one type. This is because Withtech accumulated technological expertise by acquiring the semiconductor cleanroom molecular contamination measurement business from AceLab, a leading domestic company in semiconductor cleanroom molecular contamination control technology with long-standing experience and strengths in molecular contamination measurement and control in semiconductor cleanrooms since the early 2000s.

Currently, Withtech has large customers in the domestic semiconductor and display industries, including SK Hynix, MagnaChip as registered partners, as well as Samsung Electronics and LG Display. It is judged to hold an overwhelming market share within its customers in the manufacturing environment monitoring sector based on its unique molecular contamination diagnosis technology.

Researcher Dohyun Kim of Hana Financial Investment stated, “Based on high market share with customers, continuous benefits are expected in the manufacturing environment monitoring sector, which is basically installed during semiconductor fab expansions. Growth drivers will diversify into process monitoring due to process miniaturization and environmental pollution sectors.”

Withtech is expected to achieve stable performance growth in the manufacturing environment monitoring sector due to cleanroom expansions in promising industries, based on its unique technological capabilities. Additionally, demand for the process monitoring system sector is also expected to increase significantly due to rising defect check requirements from domestic and international manufacturers following semiconductor process miniaturization. Researcher Kim said, “Next year, the process monitoring sector will newly contribute significantly alongside steady existing businesses, continuing a high growth trend.”