Top KOSDAQ Market Cap Stocks, Spotting the Newly Rising New Faces

Enchem Ranks 6th, Sinseong Delta Tech Enters at 8th
Restructuring with Secondary Battery, Bio, Semiconductor Stocks
Frequent Ranking Changes Expected if Transferred to KOSPI

Amid the departure of the top market capitalization stocks on the KOSDAQ this year, Enchem and Shinseong Delta Tech have firmly established themselves as new members of the top 10 by market cap. As entertainment and gaming stocks, which had previously made up the top KOSDAQ stocks alongside secondary battery and bio stocks, have been pushed out, the market is being reorganized around secondary battery, bio, and semiconductor-related stocks. With KOSDAQ leader EcoPro BM also considering a transfer listing to the KOSPI market, further reshuffling of the top KOSDAQ stocks is expected.

According to the Korea Exchange on the 14th, Enchem rose to 6th place and Shinseong Delta Tech to 8th place in KOSDAQ market capitalization, each climbing one rank from the previous day. Enchem hit the daily price limit, rising to 267,500 KRW and setting a new 52-week high. Shinseong Delta Tech also rose more than 9%, reaching a 52-week high during the session.

Enchem first entered the top 10 by market cap at 9th place after L&F, which was ranked 4th, moved to the KOSPI market on the 29th of last month, and steadily climbed to secure the 6th position. Shinseong Delta Tech surpassed JYP Ent. on the 5th of this month to reach 10th place, then consecutively pushed out Rino Industrial and Rainbow Robotics to claim the 8th spot.

The emergence of new faces among the top KOSDAQ stocks is due to the departure of existing top stocks. Posco DX moved to the KOSPI market earlier this year, and on the 12th, following the completion of the Celltrion merger, Celltrion Healthcare exited the list. L&F also completed its transfer subsequently.

Enchem and Shinseong Delta Tech, whose stock prices surged sharply this year, filled the vacancies. Shinseong Delta Tech recorded a 178.49% increase in stock price this year, ranking second in overall gains, while Enchem followed with a 159.12% rise. Enchem, which was ranked 36th in market cap at the beginning of the year, jumped 30 places to 6th, and Shinseong Delta Tech, previously outside the top 50, climbed to 8th. Enchem is a global specialist in secondary battery electrolytes, particularly growing as a key secondary battery materials company in the North American market. The recent rise in Enchem’s stock price was driven by expectations of benefits from the Advanced Manufacturing Production Tax Credit (AMPC) under the U.S. Inflation Reduction Act (IRA). Shinseong Delta Tech’s stock surged significantly as a superconductor-themed stock, having been included in the theme due to its subsidiary L&S Venture Capital holding shares in the Quantum Energy Research Institute.

With the arrival of these new players, entertainment and gaming stocks, which had maintained their positions among the top KOSDAQ market cap stocks, have been pushed out of the top 10. The top KOSDAQ stocks are now reorganizing around secondary battery (EcoPro BM, EcoPro, Enchem), bio (HLB, Alteogen, Celltrion Pharm), and semiconductor stocks (HPSP, Rino Industrial).

Market capitalization changes among the top KOSDAQ stocks are expected to continue throughout the year. EcoPro BM, the top KOSDAQ stock by market cap, has announced it is considering a transfer listing to the KOSPI market, and 3rd-ranked HLB is also pursuing a transfer listing. Celltrion Pharm is scheduled to be absorbed and merged into Celltrion within the year. On the 7th, during its earnings conference call, EcoPro BM stated it is reviewing a transfer listing to the KOSPI market. EcoPro BM explained, "As part of measures to enhance shareholder value, we are considering a transfer listing to the KOSPI market," adding, "Upon transfer listing, we expect passive fund inflows due to inclusion in the KOSPI 200 index." As of the 13th, EcoPro BM’s market capitalization stood at 23.4723 trillion KRW, accounting for 5.9% of the total KOSDAQ market capitalization.