Samyoung is showing strength. Recently, as demand for capacitor films for electric vehicles has increased, causing a supply shortage, securities firms' analyses expecting benefits appear to be influencing the stock price.
As of 9:10 AM on the 4th, Samyoung is trading at 4,460 KRW, up 7.73% from the previous day.
NH Investment & Securities analyzed that Samyoung has secured mid- to long-term growth momentum through the localization of ultra-thin capacitor films for electric vehicles.
Researcher Kyunggeun Kang of NH Investment & Securities explained, "In the case of capacitor films for electric vehicles, Toray Advanced Materials holds about 90% of the global demand," adding, "Samyoung has completed the development of capacitor films under 2.3μm for electric vehicles and is currently conducting tests with automakers."
He continued, "A new capacitor film production line is scheduled to start operation in the second half of this year," adding, "Currently, three capacitor film lines are in operation, and the new line can produce 400 tons per month."
It is estimated to achieve sales of 166.1 billion KRW and an operating profit of 9.8 billion KRW this year. These figures represent increases of 12.4% and 840.1% respectively compared to last year.
Researcher Kang stated, "The price per kilogram of capacitor films sharply rose from 4,056 KRW in 2020 to 5,725 KRW in 2022," adding, "Since it takes more than four years from equipment ordering to operation for capacitor film equipment, and demand remains strong in the electric vehicle and renewable energy sectors, the possibility of resolving the shortage in the short term is low."
He emphasized, "Samyoung is the only domestic manufacturer of capacitor films," and "The capacitor film market is dominated by a few top companies such as Toray Advanced Materials, Wangja Paper, and Samyoung."
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