Mobease Electronics is showing strong performance. This is interpreted as being influenced by the news that Hyundai Motor recorded its highest-ever performance in the first quarter of this year.
As of 9:36 AM on the 26th, Mobease Electronics is trading at 2,935 KRW, up 12.05% compared to the previous day.
The day before, Hyundai Motor announced that it recorded consolidated sales of 37.7787 trillion KRW and operating profit of 3.5927 trillion KRW in the first quarter of this year. Sales increased by 24.7% and operating profit by 86.7% compared to the same period last year. Along with this, ordinary profit of 4.5909 trillion KRW and net profit of 3.4194 trillion KRW were achieved.
The first quarter operating profit was an earnings surprise, exceeding the market forecast of 2.9 trillion KRW. It also surpassed Samsung Electronics' operating profit of 600 billion KRW.
Mobease Electronics supplies Hyundai Motor with an ‘integrated controller’ that inputs destinations or phone numbers into the handwriting recognition control panel. Mobease Electronics was the first in Korea to commercialize this technology in 2020 and began supplying it to Hyundai Motor.
Additionally, Mobease Electronics supplies wireless chargers for vehicles to Hyundai Motor. 45% of Hyundai Motor vehicles use Mobease Electronics products. The vehicle wireless chargers are known to have supply contracts not only with Hyundai Motor and Kia Motors but also with overseas companies.
They have also secured new overseas customers. Mobease Electronics signed a supply contract with the U.S. electric vehicle startup Canoo and plans to supply multifunction switches and tailgate switches for minivans starting in August.
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