DA Technology Breaks Away from Cyclical Stocks... "The First Year of Performance Turnaround by Strengthening Management Stability"

DA Technology has been removed from the investment caution list.

DA Technology announced on the 23rd that the reason for being designated as an investment caution item has been resolved after receiving an opinion through the audit report that the internal accounting control system is appropriate.

Following last year's record-high order amount, the company has also succeeded in being removed from the caution list, and plans to focus all its efforts on maximizing corporate value this year.

A DA Technology official said, "After being designated as an investment caution item last year, we immediately established an internal accounting management team and continued efforts to enhance accounting management expertise and reliability. As a result, we succeeded in being removed from the caution list within a year," adding, "Along with improving management soundness, this year is expected to be the first year in which the company's growth momentum is further strengthened, as the growth of the secondary battery sector, a front-line industry, accelerates due to the enactment of the U.S. Inflation Reduction Act (IRA) and the European Critical Raw Materials Act (CRMA)."

DA Technology is aiming for a performance turnaround this year. As of last year, the equipment order amount was about 120 billion KRW, the highest since the company's founding.

According to the company, sales in the first quarter of this year are expected to increase 3 to 4 times compared to the same period last year (9.7 billion KRW). Generally, sales recognition is based on the shipment date. DA Technology plans to complete the shipment of secondary battery equipment worth 40 billion KRW from last year's orders by the end of March.

Expansion of scale is also anticipated. From this month, DA Technology is reportedly promoting the production of battery modules for V-Space and UAM (Urban Air Mobility) aircraft based on secondary battery laser processing technology and cathode laser notching technology. V-Space is a company developing batteries for electric-powered aircraft.