Kumho HT Achieves Record-High First Half Performance... "Surge in Electric Vehicle BMS Sales"

Automotive electronics company Kumho HT has succeeded in achieving record-breaking performance for the first half of the year. Kumho HT announced on the 16th that its consolidated sales and operating profit for the first half increased by 41% and 57% respectively compared to the same period last year, reaching 222.4 billion KRW and 7.4 billion KRW.

Kumho HT achieved strong first-half results as sales of its existing core products and new electric vehicle battery management products grew simultaneously. The supply of LED module products such as RCL (Rear Combination Lamp) and DRL (Daytime Running Lamp) expanded, and the performance of BMS (Battery Management System) and BMA (Battery Module Assy), which began sales last year, surged. However, a loss from equity-method investments in affiliates without cash outflow resulted in a net loss of 8.9 billion KRW.

A Kumho HT representative said, “Following existing products applied to automobiles such as LED and headlamps, the recent launch and full-scale sales of new products for electric vehicle batteries led to strong performance. Through our customers, we ultimately supply products to leading domestic automotive companies, and additional supply of automotive and electric vehicle products is planned for the second half, so we expect the growth trend in performance to continue.”

He added, “As the autonomous driving market expands in the future, we plan to enhance products such as interior mood lights and surface light source LED lamps to secure new growth engines. As a leading domestic company in the automotive lamp sector, we will accelerate performance growth through product diversification.”

Kumho HT began delivering the ‘BMS’ system, which manages the electrical energy charged inside batteries, and the ‘BMA’ product, which supports connections between batteries, starting last year. The company explained that continuous sales of new products occur under long-term contracts, and recent electric vehicle fires have also raised expectations for expanded supply.