[Click eStock] "Sinsung ENG, Delayed Orders Now in Full Swing"

Yuanta Securities analyzed on the 21st that orders for Sinsung ENG, which had been delayed, are now gaining momentum, leading to revenue recognition from domestic customers.

Kwon Myung-jun, a researcher at Yuanta Securities, stated in a report on the same day, "Revenue recognition from domestic customers, which was expected last year, is now being realized in earnest this year," adding, "Samsung Electronics' Pyeongtaek Plant 4 and the Taylor plant in the United States are representative examples, with improvements in the memory semiconductor market and price rebounds accompanying this trend, so investments are expected to continue and expand in 2025."

Researcher Kwon also analyzed, "If SK Hynix's investment related to the Yongin cluster materializes, the growth rate is expected to be upgraded," and "Sales related to secondary battery/copper foil Fab dry rooms are also expected to show steady growth."

The secondary battery Fab, conducted as a joint venture (JV), is likely to proceed according to a fixed timeline. As the scale of the Fab expands, it is described as a favorable environment for Sinsung ENG, which can stably build and provide A/S for dry rooms. There is also an analysis that additional increases are possible if the secondary battery industry recovers after the second half of the year.

He also explained, "The customer base for clean rooms is expanding from domestic to overseas companies," and "With overseas expansion, revenue growth and profitability improvement are expected."

He continued, "We secured an order last year for clean room facilities at Texas Instruments' Malaysia plant. Although we had experience delivering existing equipment such as FFUs, this is the first time building a factory clean room for an overseas company," adding, "Micron's entry is also anticipated. Vendor registration has been completed, and product and SPEC negotiations are currently underway."