[Asia Economy Reporter Hyungsoo Park] Hanatech is soaring. The advantage of being the only company in Korea to have an equipment portfolio covering the entire manufacturing process of secondary batteries seems to be stimulating investor sentiment.
At 10:38 a.m. on the 30th, Hanatech is trading at 124,500 KRW, up 17.45% from the previous day.
Hanatech was listed on the KOSDAQ market last month on the 25th with a public offering price of 35,000 KRW. It closed at 91,000 KRW on the first day of listing and has been showing an upward curve.
Hanatech is the only company in Korea that holds an equipment portfolio for the entire process (electrode plate process, assembly process, activation process, pack process) regardless of the form of secondary batteries (cylindrical, prismatic, pouch, semi-solid). Based on its technological capabilities, it has secured major domestic secondary battery companies such as Samsung SDI, LG Chem, and SK Innovation as clients. Overseas clients are also expanding to companies like Sony, Murata, BYD, and Volkswagen.
In May, it secured an order for a 30MWh battery manufacturing line for semi-solid batteries, known as the next-generation secondary battery. Unlike conventional batteries that inject electrolyte, semi-solid batteries are manufactured using cells that form a slurry (a low-fluidity liquid state) by mixing electrolyte with active materials like clay. This allows for reduced battery manufacturing costs and the production of batteries with long life and stability.
Junyoung Choi, a researcher at Hanwha Investment & Securities, stated in a recent report, "Overseas secondary battery companies prefer turnkey supply where the entire production line is engineered rather than receiving specific equipment separately," and explained, "Hanatech's know-how on the entire process is leading to turnkey orders." He added, "Currently, overseas contracts are estimated to be about 100 billion KRW in China and about 200 billion KRW in Europe and North America," and forecasted, "Although overseas sales accounted for only about 5% this year, they are likely to increase significantly next year."
Attention should also be paid to the high growth potential of new businesses. Hanatech is preparing to enter the inspection equipment market targeting the recycled battery market to expand its growth engine. Researcher Choi said, "As the secondary battery market grows, environmental pollution issues from used batteries become more prominent, inevitably increasing demand for recycling," and predicted, "Hanatech has developed performance testers and pack charge-discharge testers for recycled batteries and will enter the domestic mass production equipment market next year." Additionally, Hanatech plans to enter the foldable display market from 2023 by developing UTG (Ultra Thin Glass) thermal cutting processing technology and equipment, separate from its main business.
Researcher Choi analyzed, "Most of the overhang has been resolved, and considering that Hanatech is the only company in Korea capable of designing the entire secondary battery process, the expected upside in performance next year, and the attractive new business growth strategy, these factors should be taken into account."
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