Daejin Advanced Materials, a specialized company in secondary battery packaging composite materials, is preparing to enter the KOSDAQ market. As it is known to be an affiliate of HiSonic, there is growing interest in whether this will positively impact the expansion of synergies related to the secondary battery business among affiliated companies in the future.
According to the Financial Supervisory Service's electronic disclosure system on the 22nd, Daejin Advanced Materials is a special related company of EROptics Co., Ltd., the largest shareholder of HiSonic.
Daejin Advanced Materials received preliminary listing approval from the Korea Exchange on the 21st and plans to officially start the public offering process from December, aiming to enter the stock market in January next year. Daejin Advanced Materials is an eco-friendly composite material development specialist company, supplying materials mainly for secondary battery processes and automotive parts, and is expanding its order competitiveness by developing CNT (carbon nanotube) conductive materials.
Its major clients include LG Energy Solution, Hyundai Motor Company, Tesla, and Dyson. In particular, it has strengths in the field of ‘special plastic-based packaging’ used in electric vehicle battery manufacturing, and has grown into a global company by supplying to LG Energy Solution-General Motors (GM) joint venture ‘Ultium Cells’.
It has also achieved continuous sales growth. Sales were 13.5 billion KRW in 2020, 27.7 billion KRW in 2021, 53.6 billion KRW in 2022, and 64.6 billion KRW last year, successfully turning operating profit positive. This year, it is expected to reach 100 billion KRW, with a goal of achieving 300 billion KRW in sales by 2028.
The industry highly values Daejin Advanced Materials’ technological capabilities and growth potential. If the IPO is successfully completed, synergies among affiliated companies are also anticipated. Within the clean mobility ecosystem, Daejin Advanced Materials is expected to create synergy effects and further enhance corporate value by focusing on secondary battery packaging and special composite materials, while HiSonic focuses on secondary battery components.
HiSonic, formerly known as HS Holdings (previously Anno28), has been actively pursuing the secondary battery components business since the change of its largest shareholder. Starting with the establishment of a local subsidiary in Atlanta, Georgia, USA this year, it is sequentially progressing with projects such as collaboration with global battery companies on ESS projects for the US market and building a local factory in the US. The company explains that once it establishes secondary battery production infrastructure in the US next year, it will be able to rapidly expand its customer base.
At the same time, based on its technological competitiveness in secondary battery components, it is expanding its secondary battery components business portfolio to include not only prismatic but also cylindrical types. Full-scale sales from the secondary battery business are expected to begin next year.
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