[Click eStock] "JSTEC, Robot + India + Secondary Battery Momentum Up"

Hanyang Securities analyzed on the 16th that JSTEC is a company excelling in both its core business and new ventures.

JSTEC is a specialized manufacturer of smart equipment in various fields such as displays, semiconductors, and secondary batteries. Last year, with Samsung Display's announcement of investment in 8.6-generation OLED for IT use, the industry is showing signs of recovery. It is also expected to benefit from AGV (Automated Guided Vehicle) and the expansion of secondary batteries by the US battery cell company IBC in India.

Lee Jun-seok, a researcher at Hanyang Securities, stated in the report, "JSTEC developed AGV based on its existing technology and signed a supply contract worth 6.16 billion KRW with Samsung SDS," adding, "AGV is an automated logistics robot used within the secondary battery manufacturing line that minimizes labor and increases efficiency, thereby contributing to cost minimization."

Therefore, demand for unmanned robots is expected to continue increasing. Although the scale of this supply contract is not large, it is meaningful in terms of ▲securing a reference from a leading domestic cell maker ▲generating full-scale new business sales. In fact, the sales proportion of the secondary battery division was about 4% in the first half of last year but is expected to rise to 27% this year.

It was also analyzed that Tesla IBC in India provides sufficient long-term momentum for JSTEC. He explained, "The US battery cell company IBC is understood to be planning to expand a 50GWh secondary battery cell factory in Karnataka, India, by 2033," and "JSTEC, as the second largest shareholder holding 20% of IBC's shares, signed an automation process solution contract worth about 50 billion KRW last year."

He continued, "Starting with a 100 billion KRW automation process construction cost corresponding to 0.5GWh this year, full-scale sales are expected to begin next year (1.5GWh, estimated 300 billion KRW)," and "IBC is currently conducting funding for the expansion, with the first round of 35 million USD funding completed in January this year, and the second round of 70 million USD funding expected to be completed in the first half of this year."