[Market Focus] SNsys Surges as Samsung Heavy Industries Joins MASGA Project... Over 15,000 MRO Records Highlighted

SNsys, a comprehensive shipbuilding equipment solutions provider, is experiencing a surge. The company's stock price appears to be influenced by news that Samsung Heavy Industries has established a strategic partnership with a U.S. shipyard to collaborate on business, officially launching activities for the MASGA (Make American Shipbuilding Great Again) project. Samsung Heavy Industries holds a 14.99% stake in SNsys. As a strategic investor, Samsung Heavy Industries has voluntarily agreed to place 100% of its shares under mandatory holding with the Korea Securities Depository for 24 months from the listing date.

As of 3:10 p.m. on August 26, SNsys is trading at 42,900 won, up 9.44% from the previous trading day.

SNsys was established in June 2017 as a spin-off from the electrical and electronics division of Samsung Heavy Industries. It is the only domestic integrated solutions provider that directly develops, manufactures, and provides maintenance for key ship and offshore plant equipment such as switchboards, ballast water treatment systems, and navigation control solutions.

Leveraging core competencies accumulated over approximately 29 years since the Samsung Heavy Industries electrical engineering team, SNsys has achieved 2,258 power solution projects, 1,020 eco-solution projects, and 2,973 navigation control solution projects in global shipbuilding markets including Korea, China, and Japan. The company has provided MRO solutions (maintenance, upgrades, parts sales, etc.) for over 15,000 projects.

SNsys has established a stable supply base across major domestic shipbuilders such as Samsung Heavy Industries, Hanwha Ocean, HJ Shipbuilding & Construction, and Daehan Shipbuilding. The company boasts a proven track record in high-specification vessels where power management and distribution are critical, such as shuttle tankers and LNG carriers. With the recent surge in global demand for eco-friendly ships, SNsys has demonstrated specialized capabilities, including 380 projects in the rapidly expanding high-specification LNG carrier sector. The company has internalized power analysis and engineering capabilities, minimizing reliance on external engineering and enabling rapid response. By providing optimized solutions through power analysis tailored to the requirements of shipyards and ship owners, SNsys has secured a technological edge.

Park Jongseon, a researcher at Eugene Investment & Securities, explained, "Drawing on 29 years of experience since the Samsung Heavy Industries electrical engineering team in 1996, SNsys provides customized turnkey solutions optimized for vessel characteristics." He added, "The company has established a mid-to-long-term growth strategy through the advancement of existing businesses and expansion into new ones." He continued, "Attention should be paid to the development of the next-generation ballast water treatment system, the world's first zero-chemical product, the establishment of a core lineup for eco-friendly ships, and the development of next-generation smart ships incorporating an AI platform." He also noted, "SNsys is pursuing business diversification through partnerships with ABB for onshore and offshore projects, as well as expansion into the defense sector with naval systems."

SNsys will invest the funds raised through its IPO in expanding production capacity and research and development. To meet rapidly increasing customer demand and global market expansion, the company plans to increase its production capacity by 2.5 times compared to the current level by 2027. CEO Bae Jaehyuk emphasized, "Through the IPO, we will not only strengthen the competitiveness of our existing business but also diversify our business portfolio and expand our market dominance by entering new sectors such as onshore, offshore, and defense, aiming to grow into a top-tier global shipbuilding and offshore equipment company."

On August 25 (local time), Samsung Heavy Industries signed a strategic partnership (MOU) with Vigor Marine Group in Washington, D.C., regarding MRO (maintenance, repair, and overhaul) for U.S. Navy support vessels. Through this MOU, Samsung Heavy Industries will actively participate in the U.S. Navy and Military Sealift Command MRO projects, leveraging its advanced technology, operational expertise, and optimized facilities in the shipbuilding and offshore sectors. Based on the outcomes of this MRO collaboration, the company plans to expand the scope of cooperation to commercial and special-purpose vessels and pursue joint construction with its U.S. partner shipyards.