[Asia Economy Reporter Jang Hyowon] Hansong Neotek's secondary battery material specialized subsidiary, Shinhwa IT, announced on the 13th that it has signed a lead underwriting agreement with Korea Investment & Securities to list on the KOSDAQ market.
Established in 1998, Shinhwa IT is a specialized company in 'lead tabs,' one of the essential materials for secondary batteries. Shinhwa IT produces large lead tabs for electric vehicles (EV) and energy storage systems (ESS), as well as small lead tabs used in augmented reality (AR) glasses and laptops, through its self-manufactured equipment.
Lead tabs are materials commonly used not only in widely used lithium-ion batteries but also in next-generation secondary batteries such as 'lithium-sulfur,' 'lithium-metal,' and 'all-solid-state batteries.' Shinhwa IT handles all processes with its self-manufactured automated equipment and possesses outstanding technology in the 'film attachment' process, which is considered the most critical and important step.
Shinhwa IT has continuously invested in research and development (R&D) of lead tabs over a long period, holding about 10 patents. Based on this, it produces high-quality lead tabs with excellent safety against secondary battery explosions and superior yield, supplying them to domestic and global secondary battery companies.
Shinhwa IT counts global secondary battery companies such as SES (formerly SolidEnergy Systems), Enovix, Enertech International, and Kokam among its major clients. Recently, due to the increasing demand for high-quality lead tabs driven by the global expansion of the secondary battery market, Shinhwa IT is expanding its factory to increase production capacity (CAPA).
A Shinhwa IT official stated, "We plan to proceed with an initial public offering (IPO) based on the accumulated stabilization technology and know-how related to secondary batteries," adding, "The funds secured through the IPO will be used to further strengthen the secondary battery material and parts business and accelerate growth through new business expansion."
A Hansong Neotek official explained, "Shinhwa IT plans to file for examination for listing on the KOSDAQ market within 2 to 3 years in collaboration with Korea Investment & Securities," and added, "Listing on the KOSDAQ market will be an important opportunity for Shinhwa IT's continuous growth and leap forward."
He continued, "Shinhwa IT currently supplies products to numerous global top-tier customers while conducting joint research and development," and added, "As Shinhwa IT's major customers are expanding their factories to GWh scale in various locations domestically and internationally, Shinhwa IT's sales and profits are expected to grow significantly in the future."
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