[Click eStock] "Furontier, Top Tier in Autonomous Driving Market"

FS Research analyzed on the 8th that Puruntyeo is a top-tier player in the autonomous driving market.

Hwang Se-hwan, a researcher at FS Research, stated in the report on the same day, “Tesla's Elon Musk mentioned on the 19th of last month that full autonomous driving technology might be released within this year,” adding, “Tesla has been developing autonomous driving features for years and has experienced failures, but Musk's statement indicates that the autonomous driving technology has become more advanced.”

Researcher Hwang explained, “Of course, Tesla's autonomous vehicles are not being released immediately, but considering that interest in the autonomous vehicle theme, which had been forgotten, may increase and the pace may accelerate, we can expect performance improvements in related stocks. Given that multiple media outlets report that domestic companies such as Samsung Electro-Mechanics and LG Innotek have succeeded in securing orders from Tesla, it seems likely that domestic camera companies may additionally supply Tesla,” he said.

He also analyzed, “Puruntyeo's performance this year is expected to reach sales of 49 billion KRW and operating profit of 8.2 billion KRW, representing increases of 82.2% and 412.5% respectively compared to the same period last year,” adding, “Both sales and profits are expected to increase significantly due to a surge in sales of camera equipment for autonomous vehicles.”

He said, “Overall, the speed of technology development among autonomous vehicle companies is accelerating, so equipment demand will increase even earlier,” and forecasted, “With this market demand growth, an increase in orders mainly from domestic companies is expected, and there will also be achievements with overseas companies.”

He added, “Since the parent company, Hi-Vision System, is also expected to see about 50% sales growth this year, parts supply related to this will increase.”