CBI "Diversification of Business Achievements... Targeting Profit Turnaround in 2022"

[Asia Economy Reporter Hyunseok Yoo] CBI announced on the 21st that the results of its business diversification strategy, which has been promoted since last year, are expected to shine this year.

CBI judged that relying solely on the automotive parts business has limitations in generating additional sales and improving the profit structure. With the unfavorable internal and external environment due to COVID-19, the company has strengthened cooperation with major clients such as Daimler Trucks while pursuing various strategies since last year. At the same time, it has been dedicated to preparing future growth engines.

The parts supplied by CBI are mostly key core items used in commercial vehicles. While the electrification speed in the passenger car sector is fast, the electrification of commercial vehicles is showing signs of change but requires relatively more time and preparation across the global industry. A company official said, "Recently, demand from major clients such as Daimler Trucks, Hyundai Doosan Infracore, Hyundai Wia, and Daedong continues to increase," adding, "From CBI's perspective, a stable market is expected to be maintained."

Accordingly, this year CBI plans to further strengthen the competitiveness of commercial vehicle parts among automotive parts and maintain close cooperation with major customers such as Daimler Trucks. At the same time, as part of the business diversification strategy promoted since last year, it plans to visualize the UAM business. Along with the launch of the first electric commercial vehicle, it will also enter the automotive electronics business to upgrade the existing commercial vehicle sector through full-scale sales.

Additionally, CBI is proceeding as planned with the initial public offering (IPO) for the domestic listing of 'Kineta,' a US bio company in which it has invested.

A company official emphasized, "Despite the release of lock-up shares of Growns & Value 13th Investment Association, CBI's largest shareholder, there will be no share sales, and management efficiency will be enhanced through stabilization of the governance structure," adding, "By securing concrete profits through selection and concentration, we will lay the foundation for growth and make this year a definite year of turning a profit."