[Click eStock] "MOBESEU, Undervalued Company Compared to Growth Potential"

Stunning Value Research analyzed on the 6th that Mobeis is an undervalued company relative to its growth potential. No investment opinion or target price was provided.

Mobeis recorded sales of 650.8 billion KRW and operating profit of 36.4 billion KRW in the first half of the year, representing increases of 4% and 118.6% respectively compared to the same period last year. Youngdae Jeon, a researcher at Stunning Value Research, said, "Despite a significant earnings surprise in the first half, Mobeis is the most undervalued company among domestic listed firms with an expected price-to-earnings ratio (PER) of 1.25 times and price-to-book ratio (PBR) of 0.24 times this year relative to its growth."

He also emphasized the need to pay attention to the growth of the subsidiary Mobeis Electronics. He said, "The subsidiary Mobeis Electronics, which manufactures automotive electronic components and in which we hold a 45.84% stake, also recorded an earnings surprise in the first half."

He explained, "Mobeis Electronics, the subsidiary, is scheduled to supply body domain controllers (BDC) worth a total of 1 trillion KRW to Hyundai and Kia Motors over six years starting from 2026," adding, "Synergy effects with the parent company Mobeis and equity method valuation gains are expected."

He also highlighted the contract with Saudi Arabia's See Motors. He said, "On the 26th of last month, Mobeis Electronics signed a supply contract for multifunction and wheel remote integrated switches with the Saudi Arabian electric vehicle company 'See Motors,'" adding, "Through this third contract, Mobeis Electronics will supply multifunction and wheel remote integrated switches installed on electric vehicle steering wheels." He emphasized, "Mass production will begin in 2026, supplying parts worth approximately 150 billion KRW over 11 years."