Jaeyoung Solutec Q3 Sales 24 Billion KRW, Up 15% YoY... "Expanding High-Spec Product Share"

Jaeyoung Solutek succeeded in improving its performance in the third quarter, traditionally an off-season, by expanding the proportion of high-spec actuators.

Jaeyoung Solutek announced on the 13th that its consolidated third-quarter sales this year reached 24 billion KRW, a 14.8% increase compared to the same period last year. Operating profit turned positive to 200 million KRW. Net loss for the period was 800 million KRW, reducing the loss compared to the same period last year.

Jaeyoung Solutek is a specialized company in actuators for camera image stabilization devices. It produces all types of actuators, including voice coil motors (VCM) that move along a single axis, encoders operated by sensors, and optical image stabilization (OIS) devices that move along three axes.

In particular, this quarter, the core business division, the nano-optics sector, not only increased in scale but also led profitability improvements. The nano-optics business recorded sales of 18.3 billion KRW and an operating profit of 700 million KRW in the third quarter. The proportion of low-priced VCMs decreased, while the share of high-margin encoders and OIS increased. OIS sales rose by 46.4% and encoders by 42.9% compared to the same period last year.

The mold business division continued to post a slight loss due to the economic slowdown. Although new sales were made mainly to secondary battery and petrochemical clients, the performance improvement in the general pallet sector was delayed due to the economic recession.

A company representative said, “Starting to supply the flagship model Galaxy S23 FE OIS, the proportion of high-priced actuator sales is expected to increase further from the fourth quarter,” adding, “We have also entered mass production of encoders to respond to the Galaxy S24 scheduled for release next year.”