[Asia Economy Reporter Hyunseok Yoo] On the 16th, SK Securities forecasted that TSI would benefit from the full-scale investment in secondary batteries in the United States.
Park Chansol, a researcher at SK Securities, stated, "The full-scale investment in secondary batteries in the U.S. is a positive factor for domestic equipment companies," adding, "Although competition with Chinese companies is expected to continue in the European market, the recent inclusion of domestic equipment in Northvolt's new investment is an important signal."
He continued, "In the first half of this year, the spread of the COVID-19 Delta variant delayed cell manufacturers' capacity expansion and increased overseas stay expenses for equipment company personnel, resulting in decreased performance for most equipment companies," but added, "However, TSI's order backlog increased to 104 billion KRW at the end of the half-year as it received orders related to domestic cell manufacturers' European factories."
Furthermore, he analyzed, "As Europe gradually emerges from the influence of COVID-19, it is expected to be recognized in performance," and "Successfully securing orders for ACC mass production volumes in the future will serve as an opportunity to confirm TSI's mid- to long-term growth engine."
TSI is a business operator that builds mixing systems. As of the first half of this year, the sales composition by business segment is 55.5% for powder and other systems, 33.4% for mixing equipment, 9.4% for construction, and 1.7% for others. Major clients include LG Energy Solution, Samsung SDI, and ACC.
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