US ITC: "SK Inno Does Not Infringe LG Battery Patents"
[Asia Economy Reporter Hyungsoo Park] Yuil Energy Tech is showing strong performance.
As of 9:44 AM on the 1st, Yuil Energy Tech is trading at 21,450 KRW, up 7.79% from the previous day.
Yuil Energy Tech's stock price rose to 41,000 KRW on the day of its listing but dropped about 50% within a month. Uncertainty surrounding one of its major clients, SK Innovation, has been a drag.
It was reported that the U.S. International Trade Commission (ITC) issued a preliminary decision stating that SK Innovation did not infringe patents in the battery-related patent infringement case filed by LG Energy Solution against SK Innovation.
Founded in 2012, Yuil Energy Tech manufactures notching and stacking equipment used in secondary battery assembly processes. Its main portfolio includes pouch-type battery stacking equipment, prismatic battery roll-to-roll (R2R) notching equipment, and small battery equipment for 5G smartphones. Yuil Energy Tech is also fostering 'hydrogen fuel cell manufacturing equipment' as a new growth engine. The company envisions becoming a 'global leader in eco-friendly energy equipment.' Recognizing the growth potential of the hydrogen fuel cell market, Yuil Energy Tech has been focusing on developing manufacturing equipment for hydrogen fuel cell materials for power generation separately from its secondary battery equipment business.
Researcher Jongseon Park of Eugene Investment & Securities explained, "Based on core technology and specialized engineers, the company produces the industry's best products," adding, "It supplies SK Innovation."
He continued, "The notching equipment has secured the industry's best productivity and stability," and added, "While focusing on pouch-type R2S (Roll to Sheet), the company plans to develop prismatic R2R (Roll to Roll) notching equipment this year."
Furthermore, he emphasized, "The company is entering the wide-format battery market centered on next-generation single-width types," and "plans to develop integrated inline equipment capable of both notching and stacking processes by the end of this year."
Researcher Jongwon Lee of Sangsangin Securities stated, "The company commercialized the world's first high-speed wide-format notching machine suitable for high-efficiency electric vehicle batteries," and explained, "In 2012, it received an order for 100ppm notching equipment from SK Innovation."
He added, "In 2018, it developed coating equipment for hydrogen fuel cell materials," and "in 2019, it established an overseas subsidiary in Hungary to prepare for the European forward market."
He also noted, "In 2017, the company developed the industry's first 240PPM high-speed notching equipment," and "is developing integrated in-line equipment for notching and stacking." He emphasized, "The development is planned to be completed this year," and "based on superior technological competitiveness, it holds major battery companies such as SK Innovation as key clients."
The company has recorded an average annual growth rate of 78% over the past three years.
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