[Click eStock] "Hansol Chemical, Expected Achievements in Secondary Battery Materials"

[Asia Economy Reporter Song Hwajeong] NH Investment & Securities on the 19th raised the target price of Hansol Chemical from 290,000 KRW to 370,000 KRW, forecasting that while significant growth is taking place in the semiconductor materials business, visible results will also appear in the secondary battery materials business in the future. The investment opinion was maintained as 'Buy.'

Since launching the binder for secondary battery anode materials in 2020, Hansol Chemical has been increasing its market share within the industry. Through its subsidiary TapeX, sales of tapes for electric vehicle (EV) secondary batteries have shown a steep upward trend. Researcher Hwang Yusik of NH Investment & Securities stated, "By announcing the expansion of production facilities for silicon additives for anode materials through a public disclosure, the new business has been formalized," adding, "It is estimated to be a Si-C moisture silicone additive, and after completing a 750-ton facility at the end of 2022, there are plans to expand it to 1,500 tons."

Following strong performance in the second quarter, operating profit growth for key products is expected to continue in the second half of the year. Hansol Chemical recorded an operating profit of 53.9 billion KRW in the second quarter, a 39.4% increase compared to the same period last year. Sales of semiconductor-grade precursors and precursors increased, and sales of anode binders for secondary batteries and TapeX also performed well. Especially in the fourth quarter, higher performance is expected with new sales of quantum dot organic light-emitting diode (QD-OLED) materials and NB latex. Researcher Hwang explained, "Operating profit is estimated at 56.6 billion KRW in the third quarter and 51.0 billion KRW in the fourth quarter," adding, "The fourth quarter is the bonus payment period, and excluding this, operating profit will increase significantly."