[Click eStock] "Oros Technology, Continuing Differentiated Growth"

Kiwoom Securities analyzed on the 23rd that Oros Technology should be noted for its growth through diversification of sales channels and new equipment. No investment opinion or target price was provided.

Kiwoom Securities forecasted that Oros Technology's sales and operating profit last year would be 57.5 billion KRW and 1 billion KRW, respectively. Sales increased by 26% compared to the previous year, but operating profit decreased by 60%. Hyunjin Oh, a researcher at Kiwoom Securities, said, "The breakeven point rose due to new equipment development and the sluggish market conditions, which widened the deficit in the first half," but added, "In the second half, as the delivery of new equipment such as post-process equipment began in earnest, performance rebounded."

He stated, "Although global semiconductor integrated device manufacturers (IDMs) are expected to have limited new expansion investments this year, Oros Technology is expected not only to sustain external growth but also to improve profitability," adding, "The number of overlay measurements is increasing due to process miniaturization, and as equipment usage diversifies into post-process and substrates, growth is possible."

This year's expected sales and operating profit are 63.8 billion KRW and 9.3 billion KRW, respectively, representing increases of 11% and 874% compared to the previous year. He explained, "The company supplied test front-end measurement equipment to a Japanese NAND flash company in the second half of last year," and added, "Based on the test results, full-scale equipment orders are expected this year."

Product diversification through new equipment development is also an anticipated factor. He said, "In addition to the pad (PAD) overlay equipment for high bandwidth memory (HBM) delivered to domestic customers, infrared (IR) overlay equipment has also been developed," adding, "IR overlay is wafer stacking inspection equipment, expected to be highly necessary in next-generation HBM and hybrid bonding processes." He further noted, "As it is a globally leading technology, it is understood that there is significant interest from various customers."