M-Plus, a company specializing in secondary battery manufacturing equipment, parts, and material solutions, announced on the 10th that its preliminary annual business results recorded sales of 121.3 billion KRW, operating profit of 11.6 billion KRW, and net profit of 12.2 billion KRW. Sales decreased by 64.3%, operating profit by 51.4%, and net profit by 39.1% compared to the previous year.
Despite the significant decline in sales and operating profit, M-Plus emphasized the significance of achieving profitability for two consecutive years and exceeding the operating profit target. A company representative stated, "Despite the prolonged uncertainty caused by the electric vehicle chasm, we achieved profitability for two consecutive years through 2023 and last year," adding, "Both sales and operating profit exceeded our targets."
Initially, M-Plus set its sales target at 103.5 billion KRW and operating profit target at 9.4 billion KRW for this year.
The M-Plus representative added, "Recently, demand from domestic and international electric vehicle manufacturers for prismatic batteries has significantly increased, so remarkable growth is expected this year among companies related to prismatic batteries," and "We will do our best to continue our corporate value enhancement and shareholder return policies, including the cash dividends and treasury stock acquisitions resumed last year."
M-Plus, a secondary battery assembly equipment company, is also pursuing expansion into various new business areas such as next-generation battery equipment, electrode process equipment, and cylindrical battery assembly equipment, based on its experience in establishing over 80 production lines.
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