Hanju Light Metal is showing strong performance. As interest in Hanju Light Metal's lightweight technology grows, it appears to be influencing its stock price as well.
At 3:09 PM on the 3rd, Hanju Light Metal was trading at 6,130 KRW, up 8.11% from the previous day.
The global popularization of electric vehicles is accelerating. With growing expectations for the electric vehicle market's growth, the market capitalization of secondary battery material stocks has also increased this year. Following secondary battery material stocks, ferrite-related stocks used in electric vehicle motors are gaining attention. As the electric vehicle market expands, focus is turning to stocks likely to benefit from this growth.
Last month, Hanju Light Metal issued 3 billion KRW worth of Redeemable Convertible Preferred Shares (RCPS) to carry out a government project. This is part of the '2023 Investment-Linked Material Technology Development Project,' and as a prerequisite for project selection, the company met the requirement of attracting at least 30% investment from KITIA (Korea Investment Institution Association for Materials, Parts, and Equipment) member companies in government funding.
Hanju Light Metal received a 'Very Excellent' TI-2 grade in the technical evaluation, a prerequisite for investment attraction. The evaluation agency (KoDATA) recognized Hanju Light Metal's specialized casting methods, which complement the productivity and durability of existing processes, as outstanding technology. The company was evaluated as having high growth potential. Based on this, the investor IBK Capital decided to actively invest regardless of the government project selection outcome.
The funds raised through the preferred shares issuance will be used as foundational costs for developing ultra-thin aluminum bodies and electric vehicle parts utilizing reactive mold casting technology. The company expects the investment to contribute to the successful development of world-class reactive mold casting technology.
Jongseon Park, a researcher at Eugene Investment & Securities, explained, "We have registered 10 patents related to next-generation casting methods such as multi/dissimilar joint gravity casting, large/medium hollow low-pressure casting, and electromagnetic stirring high-pressure casting," adding, "Through technology development, we are leading the automotive lightweight market." He further noted, "Based on this, we have established a stable portfolio centered on automotive lightweight parts."
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