[Special Stock] Isu Specialty, Solid-State Battery Core Lithium Sulfide Sales Reach 1 Trillion Won... 'A Path No One Has Taken Before'

Isu Specialty Chemical is showing strong performance. Securities firms' analyses expecting a reevaluation of the company's value due to the development of advanced technology for the mass production of all-solid-state batteries appear to be influencing the stock price. News that Samsung Electro-Mechanics has developed the world's first ultra-small all-solid-state battery used in wearable devices has also sparked increased interest in stocks related to all-solid-state batteries. All-solid-state batteries are called the "dream battery" because of their high energy density, ability to be made in various sizes, and lower fire risk. Samsung Electro-Mechanics is expected to begin full-scale mass production in 2026.

As of 10:11 AM on the 23rd, Isu Specialty Chemical is trading at 52,400 KRW, up 10.55% compared to the previous trading day.

Researcher Noh Woo-ho from Meritz Securities stated, "Domestic battery companies are focusing on the mass production of sulfide-based all-solid-state batteries," adding, "A new market is expected to be created led by Samsung SDI in 2027 and LG Energy Solution in 2030."

He continued, "From the perspective of securing a stable supply chain, new process and material technology development for mass production of all-solid-state batteries is underway," and "joint research and development among companies is actively ongoing."

He emphasized, "Isu Specialty Chemical, which produces lithium sulfide?the key raw material for solid electrolytes?is responding to new market demand through research and development MOUs with prospective customers," and "foresees a competitive advantage in Isu Specialty Chemical’s lithium sulfide business." He analyzed, "With large-scale hydrogen sulfide production technology essential for lithium sulfide mass production, lithium sulfide purity/particle size control technology, and process efficiency, high-purity lithium sulfide mass production is possible." He added, "Considering the cost competitiveness compared to competitors, attention should be paid to the reevaluation of mid- to long-term corporate value based on the competitiveness of the lithium sulfide business."

Researcher Noh projected, "Isu Specialty Chemical’s current lithium sulfide production scale is 40 tons," and "the estimated production scale considering domestic and international customers’ production schedules is 20,000 tons by 2035." He also explained, "There is no market transaction price for lithium sulfide," and "the price level needed to secure economic feasibility according to industry estimates requires a decrease to below 50 USD/kg."

He stated, "Considering the mid- to long-term decline in sales prices, Isu Specialty Chemical’s estimated sales are 97.5 billion KRW in 2030, 360 billion KRW in 2033, and 1.1 trillion KRW in 2035." Furthermore, he emphasized, "Although the timeline to achieve business results is relatively long, this is a new business that can enable a return to a business structure focused on fine chemicals from a long-term perspective."