KH Philux "Performance Expected to Return to Normal Track"

[Asia Economy Reporter Hyungsoo Park] KH Philux forecasted strong performance this year in its lighting, parts, and materials business sectors. On the 31st, the company announced that it expects to achieve meaningful results in sectors excluding the housing sales business. It explained that the new NDF series has attracted interest among overseas buyers, leading to a positive outlook for sales growth in international markets.

Han Woo-geun, CEO of KH Philux, said, "Since changing our company name to KH Philux last April, we have been pursuing management innovation and new challenges," adding, "We are moving away from the traditional manufacturing image and are promoting new businesses such as eco-friendly electric vehicle parts and bio-business."

KH Philux expects concrete achievements in the parts and materials business sector this year. Last year, it established a joint venture with the largest materials manufacturer in China, enhancing stability in raw material production and procurement. Through this, the company is expanding its market share by supplying volume to global companies. With the Tokyo Olympics held this year and the Beijing Winter Olympics scheduled for next year, TV demand is increasing, and KH Philux anticipates improved performance in its parts and materials business division.

In the LED lighting business sector, which experienced a downturn in overseas markets until the first half of this year due to COVID-19, sales have been rapidly increasing since the second half of this year in key regions such as the United States, Canada, Europe, and Southeast Asia.

A KH Philux official explained, "In preparation for the post-COVID-19 with-corona era, we developed and launched new products with antibacterial and sterilization functions," adding, "We expanded our overseas network through non-face-to-face marketing with overseas customers using Zoom and video conferencing systems."

KH Philux has released new products, DIVA Pure and the NDF series, which have received favorable reviews in the United States and Europe. In the fourth quarter of this year, the company plans to supply NDF to a major casino in the United States and has signed contracts to supply lighting in large quantities to major supermarkets in Canada and Australia, expecting overseas sales to increase.

KH Philux is also seeing results in its new business focus, the automotive electronics parts division. Product development has been completed, and mass production will begin by the end of this year. The automotive electronics parts will be supplied to automobile manufacturers in Europe and Japan.

Through the automotive electronics parts business, KH Philux expects approximately 20 billion KRW in sales over the next five years from products currently scheduled for supply. Including follow-up models under development, the company anticipates a significant increase in sales.

CEO Han Woo-geun stated, "All executives and employees of KH Philux, the flagship company of the KH Group, have done their best and never stopped innovating and challenging even during the COVID-19 period," and added, "Through stable management, we will show results that go beyond recovery to record the highest performance."