[Asia Economy Reporter Hyungsoo Park] Ajinextek surged for the second consecutive day, hitting a new all-time high. As global companies are successively striving to secure robot technology, it appears that news of Hyundai Motor and Samsung Electronics strengthening their robot business capabilities domestically is influencing the stock price. At 'CES 2022,' which opened on the 5th in Las Vegas, USA, Korean companies also focused on introducing robot-related technologies. Expectations for robot-related M&A are also growing as Samsung Electronics is on the verge of a large-scale merger and acquisition (M&A).
As of 11:54 AM on the 10th, Ajinextek was trading at 14,950 KRW, up 12.41% from the previous trading day. During the session, it rose to 15,950 KRW, setting a new all-time high.
Ajinextek operates in the motion control business, which controls the speed of motors or controls movement speed or position for smart factory process automation equipment used in semiconductor, display, and industrial robot manufacturing. It has accumulated over 24 years of industrial motion control technology and has secured technological competitiveness in terms of product unit price and production process by applying semiconductors developed for motion control modules and systems suitable for various industrial sites and robot controllers.
Motion control solutions are necessary for building smart factories and manufacturing robots. Ajinextek is the only company in Korea to have successfully developed motion control chips through its own non-memory semiconductor design technology. It supplies products to about 700 companies. Its major clients include Semes and Wonik IPS, which supply manufacturing and inspection equipment to Samsung Electronics, SK Hynix, and LG Display in the semiconductor and OLED fields.
Recently, due to increased facility investment in key front industries such as semiconductors and mobile phones, sales in the motion control field as well as in new front industries such as secondary batteries and robots have steadily increased, growing Ajinextek into a high-end motion control solution company. It has embedded self-produced motion control semiconductors and a basic-type robot language compiler, and developed the ARC (Ajin Robot Controller), a universal robot controller capable of high-speed and high-precision control of various industrial motors.
Recently, it has started a demonstration project for mobile collaborative robots, a core element of smart factory implementation, and is developing localization of open factory platforms and XR glasses for smart factories. Through technology development projects supported by the Ministry of Trade, Industry and Energy in collaboration with the Electronics and Telecommunications Research Institute, Korea Electronics Technology Institute, and Daegu Gyeongbuk Institute of Science and Technology, it is developing AI and vision technology-based picking solutions. Demonstrations have been conducted targeting mid-sized companies in the automotive, semiconductor, and display sectors, with commercialization aimed for this year. To expand from the motion control business to AI-based vision business, it launched sapphire wafer inspection equipment applying AI machine vision in 2020. Last year, it developed and released a prototype of an AI motion control chip through joint development with domestic research institutes.
Last year, it developed servo amp technology for energy reduction in mobile robots through joint research with MAXON. Its smart health products under development, Cable Machine and Leg Press, were selected for the 2021 'Good Design' award. The Cable Machine received the Silver Award from the Minister of SMEs and Startups. Through collaboration with Japan's Yaskawa Electric, it developed control technology that collects robot status information data and maintenance data widely applied in automation lines and predicts problems through data analysis.
Development of XR glasses for smart factories to apply the metaverse to industrial sites is currently underway with the Gumi Electronics and Information Technology Institute, and a joint venture company producing smart healthcare devices was established with China's Guojin Robot Technology. The core technology device applied to the business is SEA. Unlike existing mechanisms that use inertia through heavy iron or rubber barbells, it uses inertia, viscosity, elasticity, and zero gravity to increase effectiveness while reducing accident risks. It is highly evaluated for technological competitiveness related to commercialization of core technologies such as AI, big data, and blockchain surrounding advanced robot technologies, which have recently become key elements in smart hospitals and smart factory construction.
Last year's third-quarter sales recorded 30.5 billion KRW, an 85.3% increase compared to the same period last year. With a cost ratio in the 50% range securing cost competitiveness compared to the industry, and eased selling and administrative expenses burden due to increased sales, it showed an operating profit margin of 16.6% and a net profit margin of 12.6%. Key financial stability indicators as of the third quarter of last year recorded a debt ratio of 14.5%, equity ratio of 87.3%, and current ratio of 628.5%. It maintains good financial stability indicators through steady profit retention. It holds cash equivalents exceeding the total debt scale.
Kim Chang-ho, CEO of Ajinextek, said, "Ajinextek has been doing business in manufacturing-type robots and high-speed precision machine parts, but through CES, we have expanded into the smart health field, a type of service robot," adding, "We want to create new opportunities by participating in CES, a global stage for new technologies, introducing innovative technologies, and meeting consumers."
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