GRT Achieves Record High Annual Sales Exceeding 700 Billion Won... "Key Player in Secondary Battery Materials"

GRT, a KOSDAQ-listed company, announced that it surpassed annual sales of 700 billion KRW this year (fiscal year ending in June), setting a record high performance.

According to the Financial Supervisory Service's electronic disclosure on the 25th, GRT's cumulative annual sales (from July 2022 to June 2023) recorded 4 billion CNY (approximately 767.6 billion KRW), an increase of about 78.7% compared to the previous year. During the same period, operating profit and net profit increased by approximately 59.6% and 38.4% year-on-year, reaching 440 million CNY (about 83.7 billion KRW) and 320 million CNY (about 60.2 billion KRW), respectively.

The growth of its subsidiary Jiangsu Huizhi New Material Technology Co., Ltd. is also remarkable. Sales reached 2.14 billion CNY (about 406 billion KRW), achieving an explosive growth rate of 962.4%, roughly 10 times that of the previous year, while operating profit and net profit increased by 451% and 770.1%, respectively.

The company cited the expansion of orders in the secondary battery materials business as the main factor for achieving record-high performance. Through strategic partnerships with global major companies, it has stepped into the secondary battery materials business and is currently negotiating supply to major local Chinese electric vehicle battery companies. Annual sales of the secondary battery materials business amount to 1.18 billion CNY (about 224.9 billion KRW), accounting for 29.5% of total sales, and are expected to expand further.

With improved technological capabilities, the MLCC materials business also showed positive results. The company has secured major domestic and Chinese customers and is preparing for mass delivery of MLCC dielectric films starting in the second half of this year. The company is also conducting technology development and supply negotiations with various partners in the semiconductor sector, which is expected to expand sales related to semiconductor materials.

The future of the display materials business area is also bright. OLED support films to be supplied to major Chinese display companies have completed product production testing and are scheduled for mass production in the second half of the year, with plans to supply LCD-related products in the future.

A company official stated, “With improved technological capabilities, expansion of production capacity at the third plant, the driving effect of upstream industries, and the increased use of domestic components by Chinese companies, the company’s future growth momentum is expected to accelerate further.”