[Click eStock] "Tipleks, Record High First Half Performance... Expecting Electric Vehicle Momentum"

[Asia Economy Reporter Hyunseok Yoo] KB Securities analyzed on the 29th that T플랙스's strong performance will continue due to the recovery of its upstream industries. No investment opinion or target price was provided.

T플랙스 is a primary metal processing company that was listed on the KOSDAQ market in 2009. It procures raw materials from SeAH Changwon Specialty Steel and supplies products to over 1,500 customers in industries such as shipbuilding and semiconductors. It holds the number one market share in the stainless steel bar sector.

Its sales and operating profit for the first half of this year were 86.6 billion KRW and 6.5 billion KRW, respectively, representing increases of 25.1% and 174.3% compared to the same period last year.

The strong performance is expected to continue. KB Securities researcher Sang-guk Lim stated, "We focus on the favorable performance growth cycle driven by increases in stainless steel prices and sales volume, as well as cost reductions," adding, "An increase in orders is anticipated due to the recovery of upstream industries such as semiconductors and shipbuilding."

He continued, "The demand for stainless steel valves and fittings, driven by semiconductor facility investments and large-scale LNG ship orders, is sustaining the continuous growth of the CD Bar business division."

Additionally, momentum from nuclear power plants and electric vehicles is expected. He explained, "As stainless steel materials are used in electric vehicle battery modules, performance expansion is expected with the growth of the electric vehicle market," noting, "T플랙스 supplies stainless steel materials for the pillars of electric vehicle battery module cases."

He emphasized, "Stainless steel round bars are used as materials for nuclear power plant valves," and added, "In the past, T플랙스's main product was stainless steel round bars for nuclear power plant valves, which could serve as a future momentum."