[Click e-Stock] "Vinatech Achieves Turnaround... Significant Profit Improvement Expected Next Year"

On November 17, Shinhan Investment Corp. analyzed that Vinatech successfully achieved a turnaround in its third-quarter results and is expected to see even greater growth next year. The firm maintained its "Buy" investment rating and target price of 80,000 won.

On a consolidated basis, Vinatech recorded sales of 23 billion won and operating profit of 2.6 billion won in the third quarter. Sales increased by 63.8% compared to the same period last year, and operating profit turned positive. Choi Kyuhyun, a researcher at Shinhan Investment Corp., explained, "The supercapacitor business has continued to improve quarter by quarter since the fourth quarter of last year," adding, "The main factors are the increase in shipments for smart meters (for Europe) and the rise in orders for Bloom Energy (BE)."

Shinhan Investment Corp. expects significant profit growth to be possible next year as well. He said, "Even if we supply in the form of simple cells, we anticipate improved results compared to this year," and projected, "The supercapacitor business will reach 107.5 billion won, up 50.7% year-on-year."

He added, "If the supply scope expands to systems in the future, sales per unit could multiply several times, which would serve as a quantum leap point for Vinatech," and noted, "While it is difficult to predict the exact timing, related achievements are expected to become visible sometime next year."

He also emphasized, "In addition to the ongoing BE project, new projects targeting automotive electronics and artificial intelligence (AI) data centers are underway, and there is a possibility that these will materialize next year."