Naintech "Achieves 34.7 Billion KRW in Q3 Sales... 55% Increase YoY"

Ninetech, a specialized company in secondary battery and IT material parts equipment, announced on the 7th that it achieved consolidated sales of 34.7 billion KRW in the third quarter of 2024, marking a 55% increase compared to the same period last year. Operating profit for the same period recorded a surplus of 1.57 billion KRW, successfully turning around its performance.

The cumulative sales for the third quarter of 2024 reached 101.9 billion KRW, up 16.6% year-on-year. Operating profit turned positive at 2 billion KRW. This was the result of the full-scale delivery of secondary battery equipment to North America, and sales are expected to be maximized in the fourth quarter.

This strong performance was driven by cost reductions through expanded overseas raw material sourcing, continuous fixed cost reduction efforts, and improved subsidiary performance. The company stated that this has laid the foundation for sustainable growth going forward.

Ninetech is supplying key assembly process equipment using the Roll to Roll method to NextStar Energy, a joint venture between LG Energy Solution and Stellantis. NextStar Energy began mass production of battery modules on the 23rd of last month and plans to start full-scale battery cell production next year. Through this, Ninetech plays a crucial role across LG Energy Solution’s global projects and is solidifying its position in the North American and global markets.

Ninetech’s assembly process equipment boasts high productivity. In particular, the Roll to Roll lamination equipment consistently secures orders from global partners, including LG Energy Solution, due to its process consistency and efficiency.

A Ninetech representative said, “The company has been growing rapidly with an average annual sales growth rate of 40% since 2021, and we expect the best performance this year as well. We will diversify our portfolio not only in secondary battery assembly processes but also in glass substrates for display and semiconductor packaging processes, as well as new businesses through subsidiaries and affiliates, creating broader growth opportunities next year.”