[Click eStock] "Samyoung, Price Increase Due to Capacitor Film Supply Shortage"

Meritz Securities forecasted on the 20th that Samyoung's performance will improve due to a shortage of capacitor films.

Yang Seung-su, a researcher at Meritz Securities, explained, "A shortage occurred as capacitor films began to be installed in inverters used in electric vehicles," adding, "This is because the production lines of the global number one company were entirely converted to electric vehicle film production."

He continued, "Electric vehicles use thin capacitor films ranging from 2.3 to 3.5㎛, and the thinner the film produced, the more production volume decreases due to yield issues," and added, "Currently, Toray supplies over 90% of the capacitor films used in electric vehicles, with the remainder supplied by Wangja Paper."

Researcher Yang analyzed, "Due to the shortage, the unit price per kilogram of capacitor film rose from 4,321 KRW in 2021 to 5,844 KRW as of the first quarter of this year," and "During the same period, Samyoung's capacitor film sales increased by more than 30% annually on average."

He emphasized, "The shortage of capacitor films is unlikely to be resolved in the short term," explaining, "This is because demand for capacitor films for electric vehicles continues to increase, and there is a lack of companies capable of responding with capacitor film production equipment, leading to lead times extending beyond three years."

Furthermore, he stated, "Since 2019, Samyoung has developed capacitor films under 2.3μm for electric vehicles through national projects," and "Having passed quality tests for domestic automakers, gradual model expansion is expected starting with hybrid models next year."