[Asia Economy Reporter Hyunseok Yoo] NeuroS is showing strong performance. The increase in sales of air compressors for hydrogen fuel cell vehicles appears to have influenced the stock price, as securities firms predict the company will return to profitability this year.
As of 9:30 AM on the 1st, NeuroS was trading at 5,630 KRW, up 6.24% (330 KRW) compared to the previous trading day.
Hana Financial Investment forecasted that NeuroS will be the sole supplier of air compressors for Hyundai Motor's Nexo until 2023.
Researcher Dohyun Kim of Hana Financial Investment stated, "We expect automotive sector sales to reach 22.9 billion KRW this year, an increase of 101.3% compared to the previous year," and added, "Hyundai plans to mass-produce 100,000 Nexos in 2023."
He continued, "Automotive sector sales are expected to achieve 77.8 billion KRW in 2023," emphasizing, "Currently, there are no competitors other than NeuroS for air compressors used in hydrogen fuel cell vehicles." Furthermore, he analyzed, "Considering that product development takes more than five years, exclusive supply for Nexo until 2023 is feasible."
He explained, "Air compressors are essential for hydrogen fuel cell vehicles to generate electrical energy," and added, "The application of an air bearing system in air compressors is indispensable."
Researcher Kim estimated that NeuroS will achieve sales of 68.5 billion KRW and an operating profit of 7.6 billion KRW this year. Sales are expected to increase by 50.6% compared to the previous year, and operating profit is projected to return to the black.
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