Seojin System announced on May 15 that, on a consolidated basis, it achieved sales of 281.3 billion KRW and operating profit of 20.9 billion KRW in the first quarter. This marks nine consecutive quarters of profitability.
The ESS equipment division saw a slight decline in performance compared to the same period last year. However, the supply of new mid- to large-sized products is now in full swing. From the second quarter, a significant increase in sales is expected. As demand grows for locations requiring large amounts of energy, the size of containers is being increased to the 20-foot standard to output more electricity, and it is anticipated that the demand to replace existing 7-foot containers will further rise.
The semiconductor division is expanding its supply volume based on its production base in Vietnam. Sales more than doubled compared to the same period last year. Seojin System is accelerating the mass production system for key components centered on Vietnam to actively respond to global customer demand, and plans to continue its ongoing external growth.
A Seojin System representative stated, "It is encouraging that, despite a subdued market environment due to concerns over the US-China trade dispute, both sales and profits increased compared to the previous quarter," adding, "With our unrivaled large-scale production capacity and price competitiveness coming to the forefront, we expect a high level of sales growth again this year."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
