[Click eStock] "FineMTech to Start Supplying Secondary Battery Parts in Q4... 2024 Sales 69 Billion Won"

NH Investment & Securities forecasted on the 5th that Fine M Tech will officially enter the EV Module Housing market starting from the 4th quarter of this year, with sales expected to reach 69 billion KRW next year.

Son Se-hoon, a researcher at NH Investment & Securities, explained in a report on the same day, "Fine M Tech has entered the EV Module Housing market by utilizing metal processing technology," adding, "This component is applied to cell modules, serving to secure battery cells and protect them from external shocks."

This component has been selected for a specific model by domestic battery manufacturer S and is scheduled for production starting in the 4th quarter of this year. The EV Module Housing production capacity (CAPA) at the Vietnamese subsidiary VINA CNS Plant 2 is 500,000 units annually, and supply is expected to increase next year. Currently, additional production facilities capable of producing 2.5 million units annually are being expanded.

Researcher Son Se-hoon stated, "Sales of secondary battery components are projected to be 14 billion KRW this year, the first year of entering the new market, and 69 billion KRW next year."

Attention is also drawn to the growth potential of the core business, the interior hinge segment. Researcher Son analyzed, "Interior hinges are applied to most foldable displays of client companies, and since various forms of foldable smartphones are expected to be released in the future, stable growth is possible."

He further explained, "Foldable displays are expected to be expanded and applied not only to smartphones but also to various devices such as gaming consoles, tablets, and laptops, indicating high growth potential."

He added, "Fine M Tech has also entered the exterior hinge market, and it is expected to be applied to new foldable phones released this year," noting, "There is a high possibility that Fine M Tech will supply parts for foldable phones to be released next year as well."