Yuhwa Securities "Polaris Works, Expected Performance Improvement Benefiting from Autonomous Driving"

[Asia Economy Reporter Hyungsoo Park] Polaris Works announced on the 27th that YuHwa Securities has published a corporate analysis report.

YuHwa Securities analyzed Polaris Works, stating, "This year, sales from the image sensor packaging division and the modular division are expected to increase, leading to improved performance." They did not provide investment opinions or target stock prices.

Researcher Seungjun Yoo from YuHwa Securities analyzed, "First, starting from the second quarter when image sensor packaging orders from PixelPlus begin full-scale delivery, the performance of this division will improve sharply." He added, "The modular business will also reflect the orders received last year starting from the first quarter," and predicted, "Performance will turn profitable from the second quarter, with profits increasing further in the second half of the year."

Recently, automakers have been rapidly equipping autonomous driving options. Demand for automotive image sensors is also surging.

Researcher Yoo said, "The modular business, which started last year, is expected to see significant growth this year," explaining, "This is because the Green Smart Future School project, which remodels old school facilities into future-oriented schools, will be in full swing starting this year."

He continued, "PixelPlus has secured before-market image sensor orders from Japan's largest automaker, increasing sales of automotive image sensors," and predicted, "Sales linked to PixelPlus will increase accordingly." He stated, "Sales to PixelPlus are expected to begin in earnest from May," and "The supply volume will increase over time."

Polaris Works' automotive image sensor packaging sales are expected to grow from around 6 billion KRW this year to approximately 20 billion KRW next year.

He further emphasized, "The modular business is a large-scale national project with a government budget of 18.5 trillion KRW," and "Polaris Works started the business last year as a modular supplier and has established itself in the market."