Diversification of Products Centered on Proprietary Nanoplatform-Based Materials
Increase in Sales of COVID Molecular Diagnostic Extraction Reagents
[Asia Economy Reporter Hyungsoo Park] NanoBrick, a developer of advanced nano new materials, succeeded in turning operating profit positive through market diversification of material product applications just one year after its technology special listing.
On the 7th, NanoBrick announced that it recorded sales of 8.651 billion KRW and operating profit of 70 million KRW last year. Sales increased by 11% compared to the previous year, and operating profit turned positive.
A company official explained, "By expanding the application market of nano material products, sales in the materials sector increased by about 150% compared to the previous year, improving profitability," and added, "The increase in sales of ‘M-Bead,’ a COVID molecular diagnostic extraction reagent using magnetic particles, a core material in the security business, led to the turnaround to profitability."
CEO Joo Jae-hyun said, "The advanced new materials development business involves long-term large-scale investment, so it carries high risk," and added, "New materials with verified mass production quality are applied to various fields and continuously increase sales and profits, making it a high-profit business group."
He continued, "We have invested long-term to build a nano platform capable of launching various new materials, not just one material," and emphasized, "Based on the mass production-verified nano platform, we will commercialize various advanced new materials together with global customers in each application field."
NanoBrick is expanding its business areas based on its independently established nano platform into ▲anti-counterfeiting and genuine authentication ▲bio and cosmetics ▲functional and sensory display businesses. It was listed on the KOSDAQ market in August 2019 through the highest grade technology evaluation.
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