Pino "Last Year's Sales 30.7 Billion Won... 'Secondary Battery New Business Achievements'"

Pino succeeded in achieving high growth in performance last year based on new business achievements related to secondary battery materials.

On the 10th, Pino announced that its individual sales last year reached 30.7 billion KRW, a 340% increase compared to the previous year. Additionally, operating profit also turned positive slightly, marking an improvement in profitability.

The strong performance last year was due to the entry into the precursor business, a core material for secondary batteries, and the expansion of raw material supply. In particular, after signing a large-scale supply agreement with L&F, a leading domestic cathode material company, it quickly led to actual contracts, significantly increasing its scale.

Starting with a copper supply contract with Hong Kong CITIC Metal Limited in August last year, Pino achieved approximately 20 billion KRW in orders in the secondary battery materials business last year. This achievement came just four months after entering the business based on cooperation with CNGR, the largest shareholder and the global market leader in precursors.

A Pino official said, "As the new secondary battery materials business has been fully launched, the scale has grown significantly and profitability has improved. This year, the effects of entering the new business will be fully reflected, and through expanded cooperation with various domestic and international companies, we expect to continue a strong growth trend in performance."

Meanwhile, after CNGR became the largest shareholder in June last year, Pino decided to focus on the secondary battery materials sector as a new business and began full-scale operations. Going forward, based on the cooperative relationship with CNGR, Pino plans to enhance performance growth and corporate value through expanded investment in secondary battery materials and various related businesses.