In the High-Interest Era, 'Selection and Focus'... 2nd Battery Companies Regain Attention

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[Asia Economy Reporter Park Soyeon] Shinhan Financial Investment has newly set target prices for a large number of companies related to secondary batteries.

According to FN Guide on the 29th, Shinhan Investment Corp. recently issued a report setting a new target price of 14,000 KRW for Inometry, a specialized company in X-ray inspection equipment for secondary batteries, Inometry, and gave a buy investment opinion.

Inometry was established in 2008 and built its reference starting with inspection equipment for secondary batteries in mobile phones in the 2010s. In the electric vehicle battery inspection equipment market, it secured three domestic cell makers and Northvolt as customers. In 2020, the largest shareholder changed to East Bridge Partners SPC Evision Limited.

Shinhan Investment Corp. also newly set a target price of 79,000 KRW for Hanatech, a secondary battery equipment manufacturer.

Hanatech is a company capable of providing equipment solutions for all processes of secondary batteries. Since 2004, it has developed and supplied equipment, securing three domestic cell makers as customers. In April 2022, it signed a purchase and sale agreement for the Hwaseong Plant 2, and it is expected to be able to handle orders worth up to 600 billion KRW by the end of 2023.

Shinhan Investment Corp. also newly set a target price of 75,000 KRW for Daebo Magnetic. Daebo Magnetic started with iron removal business in the food and beverage and petrochemical sectors and expanded into the secondary battery sector. The demand for iron removal related to safety in the growing battery market is steady. By applying the iron removal process, it can filter out metal foreign substances that may cause fires, and as the battery recycling market expands, demand is expected to increase, enabling performance growth.

Additionally, Shinhan Investment Corp. newly set a target price of 12,000 KRW for TSI, a specialized company in secondary battery mixing systems. For PNT, a manufacturer of equipment for secondary battery electrode factories, a new target price of 60,000 KRW was set.