Q1 Consolidated Sales of 127 Billion KRW and Operating Profit of 31.8 Billion KRW
Growth Drivers Include Mobile Cover Glass, Automotive, Watch, and Camera
New TGV Glass Substrate Business Launched... Accelerating Mid- to Long-Term Growth
JNTC is showing strong performance. The news of achieving a 'surprise performance' in the first quarter of this year through product and customer diversification appears to be influencing the stock price.
As of 10:16 AM on the 13th, JNTC is trading at 18,300 KRW, up 5.9% compared to the previous trading day.
On this day, JNTC, a leading company in 3D cover glass, announced that it achieved consolidated sales of 127.1 billion KRW and operating profit of 31.8 billion KRW in the first quarter of this year. This represents an increase of 12.6% and 504.6%, respectively, compared to the previous quarter. Operating profit surged by 1,325.7% compared to the same period last year.
In the previous quarter, JNTC recorded sales of 112.8 billion KRW and operating profit of 5.3 billion KRW. The first quarter sales and operating profit marked a significant increase. The company explained that alongside the increase in sales of existing mobile products, the synergy effect is emerging as the yield of major new products pursued under the goal of customer and product diversification has entered a stabilization phase.
Additionally, the company secured further growth momentum through ▲acquisition of surface treatment technology optimized for automotive 3D cover glass ▲visible entry into the automotive 2D market ▲acquisition of new customers for watch products. Through detailed efforts to diversify customers and expand market share (M/S) across all product lines, the growth momentum is expected to become more visible in the second half of this year.
If the company achieves its annual sales target this year with differentiated competitiveness, the compound annual growth rate (CAGR) from 2022 to 2024 will reach 84%. A company representative explained that continuous efforts to diversify the product portfolio, including new businesses, will drive accelerated growth in the mid to long term.
Recently, JNTC officially announced its entry into a new business for semiconductor glass substrates for TGV, capable of quantum jumps, based on the technology accumulated in the 3D cover glass business. It is expected that a prototype demonstrating its own technological capabilities can be presented within a short period. In the mid to long term, the company is likely to focus all its capabilities on solidifying its position in the semiconductor glass substrate market for TGV, along with its image as a leading company in 3D cover glass.
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