[Click eStock] "Microdigital, Investment Point is Export Growth Trend"

"Expanding Global Market Reach Through Bioprocess Division"

Heungkuk Securities evaluated Microdigital on the 18th, stating that "the expansion of export proportions centered on the bioprocess division is an investment point." Accordingly, they maintained a 'Buy' investment rating while lowering the target price to 14,000 KRW, reflecting the stock market adjustment.

Choi Jong-kyung, a researcher at Heungkuk Securities, analyzed, "Microdigital is expanding its business area from biomedical to bioprocess, extending its market globally beyond Korea," and added, "From 2025, exports in the bioprocess division will be in full swing, increasing the overall export proportion."

Founded in 2002, Microdigital is a medical device specialist company that entered the KOSDAQ market in 2019. In 2020, it commercialized the country's first disposable bioreactor 'CELBIC' and culture bag 'THEBAG,' proving the competitiveness of domestically produced bio equipment. As of 2024 sales, biomedical accounts for 73% and bioprocess for 21% of the total.

In December last year, Microdigital signed a supply contract for CELBIC with SII, the world's largest vaccine manufacturer, through India's medical equipment and consumables distributor Acumax. Negotiations are also underway to replace SII's outdated equipment with Microdigital's products. Additional supply discussions with Reliance, Biocon, and others are progressing concretely.

Additionally, at the 'INTERPHEX 2025' bioprocess exhibition held in the United States this month, Microdigital strengthened its global market presence by unveiling the disposable cell culture device 'OrbTec,' developed in cooperation with American bio materials and components company Parker Hannifin.

Researcher Choi noted, "Along with this, the release of upgraded diagnostic equipment in the biomedical division is expected to simultaneously improve performance across all business sectors," and added, "Although the stock is highly volatile, considering the positive situation, it can be utilized as a good investment opportunity."