[Click eStock] "Dreamtech, the First Year of Performance Improvement This Year"

Shinhan Investment Corp. analyzed on the 17th that this year is the period of performance improvement for Dreamtech. The investment opinion 'Buy' and the target price of 20,000 KRW were maintained.

Shinhan Investment Corp. expects Dreamtech's sales and operating profit this year to reach 1,137.6 billion KRW and 112.6 billion KRW respectively, representing increases of 11% and 174% compared to the previous year.

Oh Kang-ho, a researcher at Shinhan Investment Corp., said, "This year, simultaneous growth is possible due to the recovery of the smartphone market and entry into the healthcare market," adding, "Both BHC (medical devices) and IMC/CCM (IT) are positive."

He explained, "The growth key focused on in 2023 is the healthcare business, and it remains the same this year," adding, "Wireless biosensors are expanding market entry by compensating for the drawbacks of existing electrocardiogram tests (wired, movement restrictions, etc.)."

He further explained, "Expansion of new product certifications and an increase in export countries are major growth drivers," estimating that healthcare sales within the BHC business will be 103 billion KRW in 2023 and 155.5 billion KRW in 2024. He added, "With the expansion of healthcare sales, the total sales of the BHC division are expected to rebound from 262.7 billion KRW in 2023 to 321.6 billion KRW in 2024."

Researcher Oh emphasized, "There is sufficient momentum for smartphone demand improvement this year due to the expansion of on-device adoption and the launch of new applications," forecasting that IMC sales will reach 431.5 billion KRW in 2024.