GRT "Expecting Soaring Growth Backed by Global Major Companies"

GRT, a precision coating new material specialist company, announced on the 12th that it is accelerating its growth engine with the dual pillars of smart devices and electric vehicles through strengthened joint ventures with major global smart device glass company Nansha Technology (LENS TECHNOLOGY).

GRT recently expanded the scope of its joint venture with Nansha Technology and will supply products related to smart device touch panels as well as electric vehicle C-pillar and B-pillar products in the future. While Nansha Technology previously only supplied glass for Apple’s touch panels, by providing complete touch panel products, it has been able to capture market share from existing Taiwanese companies.

Nansha Technology’s automotive-related products have also expanded from existing center fascia, instrument panels, and displays to include production of B-pillar and C-pillar related products. Nansha Technology is a strategic investor holding shares in GRT’s core subsidiaries, and the company explains that Nansha Technology’s rapid growth is expected to bring significant benefits to GRT.

Benefits are also expected from the expansion of the Chinese electric vehicle market and increased demand for automotive-related products. According to statistics from the China Association of Automobile Manufacturers, sales of new energy vehicles in China reached 3,747,000 units in the first half of this year, a 44.1% increase compared to the same period last year.

The current cooperation areas between GRT and Nansha Technology are mainly display, automotive, and new energy sectors, with last year’s delivery scale to Nansha Technology reaching 100 million yuan. The sales proportions for each sector are approximately 43%, 35%, and 22%, respectively. According to company officials, “Based on the business plans currently under discussion between both parties, this year’s delivery scale is expected to increase by more than 200% compared to the previous year,” adding, “Although consolidated sales grew by 79% last year, an even greater growth rate is anticipated this year.”

Chinese listed company Nansha Technology recently announced at a corporate briefing held for over 100 institutional investors in China that it achieved sales of 20.2 billion yuan (approximately 3.8 trillion KRW) and net profit of 554 million yuan (approximately 103.5 billion KRW) in the first half of this year. In particular, it recorded sales of 2.282 billion yuan (approximately 426.3 billion KRW) in business areas such as new energy vehicles, showing a 54.98% increase compared to the same period last year.

Meanwhile, Nansha Technology holds a 35% market share in global glass for touch panels. It is the overwhelming number one, and its clients include powerful global companies such as Apple, Huawei, Google, Meta, CATL, BMW, Mercedes-Benz, and BYD. GRT is expected to continue its steep growth trend by leveraging Nansha Technology’s network as a growth engine.