[Click eStock] "Neosem, Growth with Reason... Promising 2025"

On the 13th, Kiwoom Securities analyzed that despite the sluggish front-end market conditions, NeoSem continues to show solid performance growth and is expected to perform even better this year.

Oh Hyunjin, a researcher at Kiwoom Securities, stated in the report, "Last year, NeoSem's sales reached 102.5 billion KRW (a 2% increase from the previous year), and operating profit was 13.5 billion KRW (a 67% increase from the previous year), marking a record-breaking performance," adding, "By 2025, sales are expected to grow to 131.5 billion KRW (a 28% increase from the previous year) and operating profit to 24.3 billion KRW (an 80% increase from the previous year), indicating further growth."

Researcher Oh analyzed, "NeoSem, which proactively developed the GEN5 product amid recent changes in the competitive landscape of its main business sector, SSD testers, is highly likely to benefit," and added, "As performance improves, more testers are required to produce the same quantity of SSDs, which will also increase demand for GEN5 SSD testers."

In 2023, NeoSem received the Best Partner Award from a U.S. memory semiconductor company and supplies equipment to various domestic and international semiconductor companies. Its server DIMM testers are delivered to major overseas clients, and new orders for DDR5 Automation equipment are also anticipated.

With increasing demand for automated process equipment, Automation equipment is emerging as a core business driving NeoSem's mid- to long-term growth. Accordingly, capacity expansion is planned for this year. The Burn-in testers in the Component division are also growing through customer expansion, with orders from SK Hynix expected in 2024 and efforts underway to secure new overseas clients in 2025.

NeoSem is gaining attention not only for short-term performance growth but also for mid- to long-term growth potential. It is leading the development of GEN6 SSD and CXL 3.1 testers, which are next-generation memory inspection devices expected to see significant growth with the introduction of the PCIe 6.0 interface.

Researcher Oh stated, "The GEN6 SSD tester is planned to complete development in 2024 and begin full-scale mass production in 2027," and analyzed, "The CXL testers have already been globally first developed and commercialized with models 1.1 and 2.0, and the 3.1 equipment is expected to start partial delivery in 2026."