HB Technology is showing strong performance. It has already delivered three pilot mass-production glass substrate inspection and repair equipment units this year, and there is an analysis that sales could increase up to 10 times in the future, which seems to be influencing the stock price. The stock prices of YC Chem and Philoptics have risen by 120-130% over the past eight trading days. It is interpreted that buying interest is also gathering for HB Technology, which has a relatively smaller increase.
As of 9:57 AM on the 5th, HB Technology is trading at 3,420 KRW, up 6.21% from the previous day.
Shinhan Investment Corp. analyzed on the 5th that HB Technology is expected to experience substantial growth starting next year, beginning with the first supply of glass substrates this year.
HB Technology produces inspection and repair equipment in the display, secondary battery, and semiconductor sectors. Namgung Hyun, a researcher at Shinhan Investment Corp., said, "It is judged to hold a dominant position within organic light-emitting diode (OLED) inspection equipment manufacturing," adding, "Based on its existing inspection capabilities, it has succeeded in diversifying new applications twice."
Results are also expected in glass substrates. He stated, "Among semiconductor companies, Intel and AMD are actively adopting glass substrates, and major substrate companies such as Samsung Electro-Mechanics, SK Abslix, and LG Innotek are also expanding their glass substrate sectors," emphasizing, "Three pilot mass-production glass substrate inspection and repair equipment units have already been delivered in 2024, and depending on the capacity expansion of customers in 2025, sales for glass substrates could increase up to 10 times."
He emphasized, "Due to the high process difficulty of glass substrates, the importance of inspection and repair equipment is high, so the contribution to operating profit is inevitably higher compared to existing applications," and added, "Improvements in profitability are expected due to structural improvements from the increased sales proportion in the semiconductor sector and increased sales of high-profit products."
Shinhan Investment Corp. expects HB Technology to record sales of 196.6 billion KRW and operating profit of 15.2 billion KRW this year. Compared to the previous year, sales are expected to increase by 76.1%, and operating profit is expected to turn positive.
In 2012, HB Technology acquired the materials business division related to the manufacturing of light guide plates and diffusion plates for TFT-LCD from Cheil Industries, and in 2013, it merged with its affiliate LS Tech, a light guide plate manufacturer. Major customers include Samsung Electronics, Samsung Display, and Samsung SDI.
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