N2Tech Achieves Record High Performance in First Half of Year... Sales Increase by 222%

[Asia Economy Reporter Lee Jung-yoon] N2Tech, a specialized company in semiconductor parts processing, valve production and sales, and drama production, announced its best performance for the first half of the year.

On the 15th, N2Tech, a corporation with a fiscal year ending in June, revealed that its consolidated sales for the half-year reached 41.6 billion KRW, a 222% increase compared to the previous year. Operating profit turned positive to 1.8 billion KRW during the same period. Earnings before corporate tax increased by 1181% to 5.6 billion KRW.

This performance was driven by increased sales of vacuum chambers and valves, which are parts for semiconductor and display process equipment, as well as expanded orders in the drama production division. Additionally, the drama division produced the Disney+ original drama "Grid," which will be released on the 16th.

Based on separate financial statements, N2Tech recorded sales of 36.1 billion KRW, operating profit of 1.8 billion KRW, and earnings before corporate tax of 5.4 billion KRW. Furthermore, as of the end of the half-year, the consolidated total assets amounted to 122.6 billion KRW, with a debt ratio of approximately 50%, and an equity ratio of 67%, demonstrating a strong financial structure.

A company representative stated, "'Grid' is the next work by writer Lee Soo-yeon, who opened a new horizon for genre dramas with the 'Secret Forest' series, and it is expected to showcase the appeal of K-genre dramas globally. The semiconductor division anticipates increased sales this year through securing new clients and expanding overseas exports."

They added, "The financial structure is the result of ongoing efforts to reduce debt. N2Tech has a current ratio of 166% and holds cash equivalents of 50.5 billion KRW. We will continue to strive to maximize corporate value through sustained performance improvements in the future."