Wijit, Last Year’s Consolidated Sales of 357.7 Billion KRW and Operating Profit of 13.8 Billion KRW

Wizit, a semiconductor and display core component manufacturing company, achieved its highest-ever performance last year.

According to Wizit on the 24th, the company recorded consolidated sales of 357.7 billion KRW, operating profit of 13.8 billion KRW, and net profit of 1.6 billion KRW last year. Compared to the previous year, sales increased by 915%, operating profit by 279%, and net profit turned positive.

This strong performance of Wizit is largely due to the inclusion of Powernet, acquired in 2017 for business diversification purposes, as a subsidiary under accounting standards.

Powernet is a specialized company developing and manufacturing power conversion devices (SMPS) that supply stabilized power to IT, OA, home appliances, and industrial electronic products. Recently, it has expanded its business area to the secondary battery LFP (Lithium-Iron-Phosphate) industry. Wizit increased its stake in Powernet to 38.9% through a paid-in capital increase in July last year.

Wizit is a national strategic technology materials, parts, and equipment (SoBuJang) specialized company. It has been designated by the government as a national strategic technology commercialization facility manufacturing advanced memory semiconductor (HBM, DRAM, NAND flash) materials and parts.

Based on industry-leading know-how and technological capabilities, Wizit supplies products to prominent semiconductor and display manufacturers such as LG Display, Samsung Display, Samsung Electronics, and SK Hynix.

A Wizit official explained, "With Powernet’s performance included in the consolidated results last year, sales and profitability increased significantly. Although the semiconductor and display industries, our main business areas, are generally stagnant, we will continue the performance momentum by expanding our business portfolio through entry into the eco-friendly cleaning business and expanding supply centered on high value-added new products."

Meanwhile, Wizit is continuously expanding its business area by entering the glass substrate SoBuJang market, which is regarded as the next-generation semiconductor substrate.