[Click eStock] "Powerlogics, Blossoming Secondary Battery Business"

Hana Securities forecasted on the 7th that Powerlogics' performance will improve as the sales proportion of battery packs increases. They issued a 'Buy' investment rating and set a target price of 9,000 KRW.

Researcher Kim Gyusang of Hana Securities explained, "Powerlogics is starting an OEM business for medium and large battery packs at its Vietnam subsidiary," adding, "When secondary battery companies supply batteries for electric scooters, trucks, agricultural machinery, and AGVs, Powerlogics supplies BMS, modules, and packs excluding the cells."

He continued, "Since 2018, Powerlogics has installed one production line in Korea and four in Vietnam," and added, "One production line in the battery pack business typically generates sales of about 70 billion to 100 billion KRW."

He emphasized, "The total production capacity is estimated to be around 350 billion to 500 billion KRW," and "The sales proportion of battery packs and secondary battery protection circuits is expected to rise to 25%."

Researcher Kim analyzed, "With the long-awaited battery pack business starting, sales this year are estimated to reach 971.7 billion KRW and operating profit 28.9 billion KRW," noting, "Sales will increase by 28.4% compared to the previous year, and operating profit will turn positive."