[Click eStock] "Toptec to Secure Competitiveness through Business Diversification This Year"

KB Securities announced on the 20th that Toptec is expected to demonstrate differentiated competitiveness and profitability this year due to business diversification.

Hyunkyum Kim, a researcher at KB Securities, stated, "As the growth of the electric vehicle market shows signs of slowing down, related companies are delaying investments," adding, "Toptec plans to expand its business areas by adding battery electrode processes, recycling, and semiconductor probe stations to its existing portfolio of secondary batteries, smart factories, and displays."

He continued, "Compared to other companies, Toptec has a diverse portfolio and possesses process competitiveness that can significantly reduce the chronic issue of performance volatility faced by equipment companies."

He emphasized, "Due to the rapid facility expansion of secondary battery companies, it is difficult to control costs because of shortages in manpower and other conditions. Nevertheless, Toptec is expected to deliver differentiated performance through excellent cost control capabilities."

Additionally, it was anticipated that the company recorded strong results last year. KB Securities expected Toptec's separate basis sales and operating profit last year to have reached 551.8 billion KRW and 73.5 billion KRW, respectively, representing increases of 74.5% and 139.4% compared to the previous year. He said, "The overall sales composition is 75% secondary batteries, 15% smart factories, and 10% displays and others," adding, "Profitable battery assembly modules and smart factory equipment are estimated to have led the profit improvement, resulting in a surprising performance."