Shinsung ENG Reports Q3 Sales of 469.7 Billion Won... 'Balanced Growth Across All Sectors'

[Asia Economy Reporter Hyungsoo Park] Sinseong ENG continued strong performance across all business divisions.

Sinseong ENG announced on the 8th that it recorded cumulative sales of 469.7 billion KRW for the third quarter on a consolidated basis this year, a 65% increase compared to the same period last year. Operating profit and net profit for the same period turned positive at 20.9 billion KRW and 10.9 billion KRW, respectively.

Third-quarter sales reached 155.6 billion KRW, up 41% from the same period last year. Operating profit turned positive at 7.8 billion KRW.

By business division, the Clean Environment (CE) division posted sales and operating profit of 370.7 billion KRW and 15.5 billion KRW, respectively, marking increases of 75% and 252% compared to the same period last year. The CE business is related to air purification equipment. It produces and sells cleanrooms and dry rooms, which are high-purity spaces where semiconductors, displays, and secondary batteries are manufactured.

Orders increased as the company expanded the business areas applying cleanrooms and dry rooms. The amount of new orders Sinseong ENG secured through the third quarter this year totaled 430.7 billion KRW. The order backlog stood at 312.3 billion KRW as of the end of the third quarter, indicating solid sales growth expected through next year.

The Renewable Energy (RE) division recorded sales of 98.8 billion KRW, approximately a 36% increase compared to the same period last year. Operating profit turned positive at 5.4 billion KRW. The RE division manufactures and sells solar modules. It also undertakes power plant design, procurement, and construction (EPC) to ensure stable power generation.

This year, price spreads across the solar value chain have balanced, and securing OEM (Original Equipment Manufacturer) volumes for the U.S. market has maintained stable operating rates. Based on product competitiveness and solar power construction expertise, the cumulative number of contracts signed with RE100 demand companies and institutions has exceeded 1,000.

A Sinseong ENG official said, "Orders are continuously being secured across all business divisions, leading to stable sales growth. We will actively respond to the changing market by developing the 'ECO Platform,' which enables economic analysis for RE100 supply and demand companies, and by expanding cleanroom and dry room production capacity."

Established in 1977, Sinseong ENG succeeded in domestic localization of cleanrooms for the first time in Korea and supplies products mainly to the manufacturing industry. Recently, it established the Jeungpyeong plant, the largest air conditioning equipment facility in Korea. The plant will focus on producing Outside Air Conditioners (OAC) and dry rooms used in the semiconductor field.