[Featured Stock] Cellumed, Government Considering Lifting Visa Restrictions on China... Expectation Rises for Final Contract with Electric Vehicle Leader BYD

[Asia Economy Reporter Jang Hyowon] Cellumed is on the rise. It is interpreted that buying demand is pouring in due to expectations of signing a formal contract with BYD, the global No.1 electric vehicle company.

As of 1:01 PM on the 2nd, Cellumed is trading at 5,310 KRW, up 4.94% from the previous trading day.

Prime Minister Han Deok-soo responded at a press briefing with reporters on the 31st to the question, "Won't the issue of short-term visas for Chinese nationals affect Korea-China exchanges?" by saying, "We will review the lifting of restrictions even before then if we assess the results of Chinese COVID-19 PCR (polymerase chain reaction) tests and determine that it is bearable."

Earlier this year, Cellumed signed a memorandum of understanding (MOU) with BYD regarding electric two-wheelers and secondary battery cells, establishing a close cooperative relationship. The company stated that it will conduct detailed discussions between the two companies, including specification adjustments for ‘process standardization’ to finalize the formal contract.

At the end of last year, Cellumed imported BYD’s electric two-wheeler Nerva and is conducting detailed performance verification together with its self-developed Korean model ‘K-MAX’. Cellumed plans to obtain government approval and begin mass production of replaceable batteries for electric two-wheelers within this year.

Recently, Cellumed has been aggressively acquiring patents related to replaceable batteries and secondary batteries. According to industry sources, this is a proactive response to secure a leading position in the replaceable battery sector, which is gaining attention and activating markets in Korea and Europe.