Jaeyoung Solutec's Operating Profit in H1 Up 259% YoY... "Exceeds Last Year's Total Operating Profit"

Jaeyoung Solutec, a specialist company in camera actuators, continued its strong performance in the second quarter following the first quarter.

Jaeyoung Solutec announced on the 14th that its cumulative sales for the first half of the year on a consolidated basis reached 73 billion KRW, and operating profit was 6.6 billion KRW, representing increases of 51% and 259% respectively compared to the same period last year. Net profit for the same period rose 212% to 5.5 billion KRW.

For the second quarter of this year, sales amounted to 36.3 billion KRW and operating profit was 3.1 billion KRW, marking increases of 80% and 1353% respectively compared to the same period last year. Net profit for the same period rose 99% to 2.4 billion KRW.

The company explained that the strong performance this quarter was due to increased actuator supply volume and improved profitability from productivity enhancements in its core business, the Nano Optics Division. However, the Mold Division continued to incur operating losses due to delayed demand recovery amid sluggish domestic economic conditions.

The Nano Optics Division posted second-quarter sales of 29.8 billion KRW and operating profit of 4 billion KRW, growing 101% and 567% respectively year-on-year. This was driven by diversification of high-value optical image stabilization (OIS) supply models, significantly expanding market share among key customers. The encoder also maintained a high market share among customers due to strong sales of high-end smartphones.

A representative from Jaeyoung Solutec stated, “We have already exceeded last year’s full-year operating profit within just half a year,” adding, “With the Nano Optics business progressing as planned, we expect this year to achieve record-high performance.”

They continued, “If customer demand for the next-generation new OIS, which has been under development since last year, continues to increase, we anticipate securing a favorable position in the OIS market in the future,” and added, “We will expand the OIS supply model lineup to strengthen competitiveness and continue growth into next year.”