[Click eStock] “Sinopecs, Full-Scale Market Entry into Artificial Kidney New Business”

On the 25th, KB Securities analyzed that Sinopex is ready to spread its wings as its new artificial kidney business begins to enter the market in earnest.

Kim Hyun-gyeom, a researcher at KB Securities, stated in a report on the same day, "Currently, all hemodialysis products are fully dependent on imports," and added, "Sinopex obtained the Ministry of Food and Drug Safety (MFDS) approval for its hemodialysis (filtration) device in March through research and development under a government national project."

Researcher Kim Hyun-gyeom said, "Currently, South Korea ranks third in the world for the incidence of end-stage renal disease, with about 135,000 hemodialysis patients. The domestic market for hemodialysis-related consumables is estimated at approximately 1.4 trillion KRW," and forecasted, "Sinopex aims to capture more than 30% of the domestic market within five years. If it succeeds in domestic production of hemodialysis devices, which have a higher cost burden than cancer and dementia, it will become a dark horse in the related market."

He also analyzed that the core businesses of FPCB and filters are expected to level up. He said, "Currently, sales of high-spec and high-quality mobile FPCBs are expanding," and predicted, "This year, the release of affordable foldable phone models for client companies, an increase in the proportion of 5G smartphones, and growth in the wearable and XR markets will drive sales growth."

Additionally, he emphasized, "Attention should be paid to the large smart FPCB business for automotive applications," explaining, "As electric vehicles require vehicle weight reduction and integrated sensor wiring, the FPCB market for electric vehicle battery connections is rapidly growing."

He continued, "The capacity expansion at the Dongto and Yenphong plants in Vietnam and the completion of a new factory have prepared Sinopex for the large smart FPCB business," and anticipated, "Future related order announcements will act as growth momentum."